Oracle has paid more than $253 million in 13 separate transactions for River North property on which it plans its regional headquarters campus — seemingly the largest real estate deal in Davidson County history.
The sellers were as follows, according to various Davidson Country Register of Deeds documents:
• Various entities related to Chicago-based Monroe Investment Partners, the main (prior to the transaction) land-holder in River North. Those entities sold 10 parcels for $222,224,000. The parcels cover roughly 60 acres, leaving Monroe with approximately 23 acres of River North land.
• Advanced Plating sold a 2.28-acre site at 1425 Cowan Ct. for $8,667,800. It paid $600,000 for the property in 1998, according to Metro records.
• IMI Tennessee Inc. sold a 4.58-acre site at 1433 Cowan Ct. for $17,415,400. A related entity paid $125,000 for the property in 1996, according to Metro records.
• Mark Steven Meadows (Nashville Ready Mix) sold a 1.33-acre site at 1436 Cowan Ct. for $5,054,000. He paid $90,000 for the property with a business partner in 1988, according to Metro records.
Austin-based Oracle acquired the properties via subsidiary company Oracle America Inc.
The transaction is the equivalent of about $3.71 million per acre and $85.28 per square foot.
Nashville-based law firm Waller Lansden Dortch and Davis has provided legal representation to Monroe for more than 10 years and assisted in the 10-parcel transaction.
Led by Don Allen, Monroe in mid-2019 completed a $42.5 million sale of roughly 13 acres to MRP Realty and Creek Lane Capital, a partnership that plans The Landings for the site. Previous local media reports have The Landings — to offer office, retail, restaurant and residential spaces in multiple buildings — to carry a $275 million price tag, with preliminary site work underway (read here).
Relatedly, the Metro Council recently approved $20.9 million in infrastructure upgrades for that site and an additional approximately 27 acres.
In Austin, Oracle operates from a 25-acre campus located on Ladybird Lake near downtown. Austin-based STG, which has a Nashville office, was the architect for those buildings. Previously, Oracle was headquartered in Redwood City, California, near San Francisco.