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Posted by Business Wire on 5/19/2016

RICHMOND, Va.–(BUSINESS WIRE)–Lingerfelt CommonWealth Partners, LLC today announced the disposition of Bank of America Plaza located at 414 Union Street in downtown Nashville, TN, totaling 435,525 square feet, for a gross sales price of $74 million. The Company acquired the property in July 2013 for $41.75 million.

Lingerfelt CommonWealth Partners will continue to operate the asset for the new owner via its vertically integrated operating platform. Commonwealth Commercial Partners, the Company’s property management affiliate, will handle all aspects of the day-to-day asset and property management. CB Richard Ellis will continue to handle the leasing and marketing.

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