GBT art

Parcels F and G at River North

The Davidson County Register of Deeds has now recorded GBT Realty’s acquisition of two River North parcels last week, with the transaction price of $16.21 million an acre seemingly having established a local record.

The raw land sold for $60 million.

GBT on Oct. 28 issued a release announcing the purchase but did not include the price or what the Brentwood-based company plans for the sites, known as parcels F and G and comprising about 3.7 acres.

For comparison, Oracle in June paid more than $253 million in 13 separate transactions for 60 acres of River North property on which it plans its regional headquarters campus. That transaction was the equivalent of about $3.71 million per acre.

Chicago-based Monroe Investment Partners was the seller of the two parcels, which have placeholder addresses of 0 Waterside Drive. The south parcel borders the home of TopGolf.

Of note, New York-based investment advisory firm Atalaya Capital Management is serving as an equity partner with GBT. A loan for $45 million has been secured according to a register of deeds document.

The two parcels GBT acquired are zoned to accommodate buildings of up to 38 floors, and their sizes suggest at least three buildings could be undertaken.

Representing Monroe in the transaction were Avison Young’s Lisa Maki, senior vice president; Wes Boatwright, principal; Mike Jacobs, senior vice president; and Warren Smith, principal and managing director.

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