Prime real estate in Brentwood sold Friday to Bhavin Patel for an undisclosed sum to mark his sixth Williamson County acquisition.
Patel — a young, local investment banker who serves as a co-founding partner at D.C.-based Clearsight Advisors — heads PBNJ Management, which released to the press Friday that it closed on a deal to buy the office park at 9000 Church St. in Brentwood, a fully leased building highly visible from Interstate 65.
At 7,592 sq. ft., the two-story building is currently home to Medi Weight Loss and Skin Essentials Med Spa, both providing services within the healthcare continuum.
While PBNJ did not release the amount for which Patel purchased the property, the price listed at the time the acquisition was executed was about $2.29 million. According to the release, the seller previously purchased it in 2017 for $2.05 million. The property is well positioned on one of the core Brentwood development market’s most trafficked thoroughfares.
Last August, PBNJ also spent $1.4 million on a property in Franklin’s Historic Downtown at 246 Second Ave. S. It sits only a couple blocks from four other buildings the investment firm already owned, and at the time, several retail tenants were already angling to secure spaces in three of the five buildings. The occupants of all five now include Cuts N Blessings, Kimbros, Pedego Bikes, Ritual Wellness and White Magnolia.
Deeds surfaced showing acquisition of the other four around March 2021, and all neighbor each other on S. Margin St. The smallest two of them were fully leased at the time of acquisition.
Those deals were brokered by Cushman & Wakefield. They represent a rare occurrence since buildings in the heart of Franklin are not often available.
Founded in 2011, Clearsight Advisors opened an office in Cool Springs back in early 2018 under Patel, drawn to the Greater Nashville area for its burgeoning tech scene. Patel and his wife, Preeti Arla — a former ABC News reporter and owner of The Perch Coffee shop — purchased a home in Brentwood for almost $1.4 million in January that year.
The firm helps growing companies whose sales notch at least $15 million or more raise capital and navigate mergers and acquisitions. Clearsight rendered these services to major tech consulting firm Cumberland Consulting Group, a Cool Springs-based company, and guided it to be successfully acquired by Tegria, a Seattle peer backed by Providence, one of the country’s biggest Catholic health systems.
Regions Financial Corp. — the parent company of Regions Bank headquartered at McEwen Northside in Franklin — just acquired Clearsight little more than a month ago. A release in December explained that Clearsight will be incorporated into Regions' capital markets division.
Patel was already familiar with the Nashville area before coming to lead the charge for his fintech investment bank’s local team due to having previously served as vice president with Houlihan Lokey and as a financial analyst at Avondale Partners.