Northwood Investors acquires Nashville’s Fifth + Broadway for $715m

Northwood Investors has purchased Fifth + Broadway, a newly developed 6.2-acre mixed-use, open-air center in Nashville. The property was developed and operated by Brookfield Properties, which completed construction in 2021. Northwood has purchased the property in its entirety, including its retail district, 501 Commerce office tower, and The Place residences, from a subsidiary of Brookfield.

The sales price was undisclosed; however, it is estimated to be $715 million, according to the Nashville Post.

The latest acquisition marks the fifth asset the firm has invested in within the city. Other properties include The Conrad hotel, Capital View apartments, the McEwen Northside mixed-use center and Franklin Park office towers.

Centrally located within Nashville's vibrant urban core, Fifth + Broadway is one of the largest single-phase, mixed-use developments in the city and the state of Tennessee. The  project, which replaced the 6.2-acre Nashville C