Renasant Corp. has acquired the property that has been home of its founding branch since 1994 and plans to build a Nashville headquarters there.
XMi Commercial Real Estate on Friday announced the sale of 0.76 acres at 1820 West End Ave. and 1817 Hayes St. by Amerimar Enterprises subsidiary 1808 West End Avenue LLC. Renasant started at that high-profile location in 1994 as Capital Bank & Trust.
Initial plans for the property include building a Nashville headquarters for Renasant Corp. that will include office and retail space. A schedule has yet to be determined.
"Purchasing land in Nashville is a tremendous opportunity for Renasant," said Rick Hart, Renasant’s Tennessee Division president. "We are committed to being a strong corporate citizen that engages, develops and invests in our community."
Renasant, which has a total asset base of about $4 billion, runs four offices in Davidson County and one each in Williamson and Sumner counties. As of June 2011, those branches had $300 million in deposits, good for a regional market share of 0.8 percent.
Stan Snipes and Henry Menge of XMi Commercial Real Estate represented Renasant in the deal. Menge said the bank looked at numerous other properties on West End and in Green Hills before deciding on its current home. The terms of the deal were not immediately available.