The Dallas-based owner of 100 Oaks Mall is in the process of selling the high-profile property to an undisclosed buyer.
ATR and Associates, which bought the property in 2006 from Belz Enterprises for $49.2 million, has an institutional buyer for the complex anchored by a collection of Vanderbilt Health clinics and offices as well as retailers including Guitar Center, Ross Dress for Less and Burlington Coat Factory. Contacted via phone Wednesday morning, Tony Ruggeri declined to identify the party or to note a closing date.
“We are under contract to sell with a national buyer,” he told the Post.
The Nashville Business Journal first reported the looming deal.
The buyer will not be the first major real estate player to enter the Nashville market of late. Health Care REIT Inc. (which has proposed One City for land along Charlotte Avenue), Northwestern Mutual Real Estate Investments (which plans to redevelop the North Gulch) and Walton Street Capital (which just bought Velocity), among others, have established a local presence during the past two years.