Oracle acquired a River North property from GBT Realty Corp. for $60 million. In June 2021, Oracle paid $253.7 million for more than 65 acres of East Bank land for its future campus on the Cumberland River.

Construction of its planned $1.35 billion riverfront office campus has yet to begin, and no start date has been given. Oracle plans to have 8,500 workers in Nashville by the end of 2031.

The Nashville Business Journal reports Oracle’s tech campus is the single-largest economic development deal in city and state history. Oracle Chairman Larry Ellison tagged the campus as the company’s future world headquarters and revealed that he’s hired architect Norman Foster to design it on 70 acres on the East Bank.

Since 1987, GBT has been involved with the development, construction, leasing, management and acquisition of over 40 million square feet of commercial development, including grocery-anchored shopping centers, neighborhood centers, single-tenant buildings, regional power centers and mixed-use developments, representing over $8 billion in real estate. 

Sellers of a 65-acre site on the Cumberland River set the price at $200 million. Ewing Properties, the property owner, has hired Stream Realty to market the property.

The parcel, called “The Riverside,” was once slated for 5 million square feet of residential, office and retail space. Ewing paid $7.6 million for the property and assembled the 65 acres starting in 2015.

The Nashville Business Journal reports the price is comparable to the number Carl Icahn is seeking for his East Bank scrapyard property, located just a few miles down the river. Oracle Corp. paid $253.7 million for more than 65 acres of East Bank land across the river from Germantown for its future campus in 2021, and Southwest Value Partners paid $125 million for the 15-acre former Lifeway Christian Resources campus in 2015.

IPA Capital Markets, a division of Marcus & Millichap, has secured $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit multifamily property located in West New York, NJ. Built in 2006, the property is located adjacent to the Hudson River, directly across from Manhattan.

The New York-based IPA Capital Markets team of Marko Kazanjian, Max Herzog, Andrew Cohen and Max Hulsh arranged acquisition financing with Bank of America on behalf of their client, a new joint venture between a New York-based multifamily owner/operator focused on acquiring value-add apartment assets in the Northeast and a global institutional investment manager.

“The acquisition represents a significant value-add opportunity for the sponsor,” said Kazanjian. “In Q4 2024 alone, our team secured approximately $150 million in JV equity partnerships with an additional $100 million in progress. We are excited about the continued momentum as we begin 2025 and look forward to further expanding our business.”