US property group Drawbridge Realty has acquired the Bridgestone Tower office building in Tennessee from Highwoods Properties for $255m (€217.7m).
The KKR-backed real estate investment firm said the acquisition of the 514,000sqft office tower marks its entry into the Nashville commercial real estate market.
The 30-storey building was delivered in 2017 as a build-to-suit project for tyre and rubber firm Bridgestone Americas, which fully occupies the site.
Charlie McEachron, CEO of Drawbridge Realty, said: “Bridgestone Tower is a high-quality, mission-critical asset leased to a major global credit tenant in one of the most attractive investment markets in the country.
“We’re delighted to add such an exceptional property to our nationwide portfolio and to establish Drawbridge’s presence in Nashville.”
Following this latest deal, Drawbridge has acquired more than $740m of assets totalling over 1.1m sqft within the last year.
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