Elmington pays $10.15M for Renaissance Hotel building office space

Company to spend about $2M in upgrades

Nashville-based Elmington Capital Group has paid $10.15 million for 100,000 square feet of office space located within the top six floors of downtown's Renaissance Nashville Hotel building.

Rodgers Welch Venture Inc. was the seller.

Elmington Capital plans to spend upwards of $2 million to update the space, the company said.

The acquisition follows the commercial real estate investment and development firm’s purchase earlier this month of the 126-unit Post Oak Apartments in Louisville, Elmington's latest of many moves in the Kentucky city.

"We look forward to having a stake in a building that helps make up the Nashville skyline," said Ryan Seibels (pictured), Elmington senior vice president of commercial acquisitions. "As much as anything, this reflects our conviction in Nashville. You can see a lot of energy and money being pumped into the Nashville economy."

The Renaissance Nashville Hotel building, which opened in 1987, rises 385 feet and 31 floors. It is Nashville’s eighth tallest building.