AJ Capital addresses Exit/In plans, Cobb family responds

On the afternoon of April 8, Exit/In owners Chris and Telisha Cobb celebrated a milestone in their endeavor to purchase the property that the iconic Nashville club sits on. The GoFundMe campaign they launched April 2, when the news broke that the site was under contract to developer AJ Capital Partners, reached its goal of $200,000. Since then, donations have continued to pour in — at press time, more than 4,000 donors have contributed more than $213,000, intended to help sweeten the Cobbs’ planned offer (backed by an undisclosed amount from Grubb Properties' Live Venue Recovery Fund) to purchase the site from AJ. 

The developer remained silent about its plans for the property until after 6 p.m. on April 9, when a statement was issued to media. A note attributed to AJ Capital Partners founder Ben Weprin says that the company does not (and never did) plan to build a hotel on the property, and will be taking up the task of putting the venue on the National Register of Historic Places. Furthermore, the company is making an offer to refund all donations to the GoFundMe.