Monarch, GBT buy 8 acres in Midtown

Friday, December 24, 2021, Vol. 45, No. 52

Monarch Alternative Capital LP, an investment firm with approximately $9.5 billion of assets under management, has purchased the 8-acre Beaman Toyota dealership property on Broadway.

In partnership with Nashville-based GBT Realty, Monarch plans to create a development in Midtown to address the city’s increasing real estate needs.

The development site, located in the Midtown submarket of Nashville’s central business district, is currently zoned for 1.75 million square feet of mixed-use real estate.

Currently zoned as a Mixed-Use Intensive Alternative, the site allows for development of residential, retail, hospitality and office use.

Sobro Holiday Inn & Suites sold

A joint-venture between affiliates of Dreamscape Companies and Meritage Group LP has completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel at 415 Fourth Avenue South in SoBro.

This purchase marks Dreamscape’s second hospitality transaction in the city in 2021, having acquired The Sheraton Grand Nashville Downtown at 623 Union St in June.

Aimbridge Hospitality will oversee and manage operations at the Nashville Holiday Inn & Suites Downtown and is working hand in hand with the hotel’s staff to ensure a seamless transition.

The Nashville Holiday Inn & Suites Downtown has been outfitted with 230 rooms and 8,700 square feet of meeting space.

The property, which opened its doors two years ago, also includes the street-front cocktail bar and restaurant, 4th and Peabody, which is preparing to undergo a renovation, as well as an on-site parking garage.

In addition to reimagining the hotel’s dining concept, Dreamscape also is planning to integrate additional retail concepts within the property’s expansive lobby.

Qualifacts + Credible buys InSync

Nashville’s Qualifacts + Credible, a provider of electronic health record platforms for behavioral health and human services organizations, has acquired InSync Healthcare Solutions.

Qualifacts + Credible is adding InSync’s highly configurable, clean and intuitive platform to their portfolio of EHR solutions

InSync Healthcare Solutions is a leading provider of EHR and practice management software plus revenue cycle management services for behavioral, medical and rehabilitative professionals.

“The acquisition allows the combined organization to deliver innovation, technology, customer support, and complementary solutions to a broader behavioral health and human services market,” says Paul Ricci, chief executive officer of Qualifacts + Credible. “It also better positions us for long-term growth by expanding our ability to serve small to medium-sized practices and agencies.”

The company will continue to support all three platforms, with CareLogic and the Credible platforms remaining primarily focused on enterprise accounts.

Fortress Wealth joins Smyrna firm

Cetera Financial Group, a network of financial professionals, has announced that Fortress Wealth Management has joined the Cetera Advisors community, based in Smyrna.

Cetera Advisors was formerly affiliated with LPL Financial and oversees approximately $137 million in assets.

A longstanding provider of family wealth management, planning and related services, Fortress has decades of experience helping clients realize their financial goals and pursue their long-term objectives.

The Smyrna office of Fortress Wealth Management is located within the Town of Smyrna’s historic district at 9 North Lowry Street.

The Pointe at Five Oaks sold

West Shore LLC, a multifamily real estate investment firm, announces its expansion into a new market with the acquisition of The Pointe at Five Oaks, a new construction luxury apartment community situated on 29 acres of rolling countryside in Lebanon.

This is West Shore’s third property in Tennessee, adding to its two properties in Knoxville.

“We are pleased to expand our portfolio in Tennessee in the growing and exciting Nashville market,” says Steven P. Rosenthal, chairperson of West Shore. “The Pointe at Five Oaks is a terrific property that sits just outside Music City in Lebanon, giving residents an exceptional living experience with easy access to the city.”

The Pointe at Five Oaks community offers custom one-bedroom and two-bedroom floor plans with loft apartment options, some with attached private garages.

The 312 apartment homes are beautifully designed with quality finishes, gourmet kitchens and stainless-steel appliances, with each unit featuring a private outdoor patio or balcony.

LUCD rebrands, changes name to BOSS

Nashville-based LUCD, the team of Ph.D.s and data scientists behind the only commercially available Federated Learning Solution, has completed an extensive rebranding.

The effort is in response to accelerated company growth and a renewal in its corporate vision to democratize artificial intelligence, the company states.

At the heart of this rebranding is an update to the corporate logo and a change of the company name to BOSS – emphasizing the mission to enable leaders to put their data to work.

Led by CEO and co-founder Russ Blattner, the BOSS Data team includes leading AI industry experts and data scientists.

“This is a major milestone for the company as the Enterprise AI market accelerates, creating a unique opportunity for the BOSS brand to become synonymous with the results companies can expect when they achieve AI at scale.”

Built Pay adds digital pay solution for construction

Nashville’s Built Technologies, a construction finance platform in the U.S., has launched Built Pay, which eliminates common pain points associated with making and receiving construction payments.

Built Pay is a digital payment solution that is purpose built to simplify construction payment processes and provide payors and payees the flexibility to choose the payment method that is right for their situation.

The product was developed in partnership with Melio, a leading B2B payments company, and is available immediately to current Built customers using its Lien Waiver Management and Compliance products at no additional subscription cost.

Construction is one of the least digitized industries in the world and is notorious for its reliance on manual accounts payable processes and paper checks.

A number of factors combine to make construction payments particularly complex, including required collaboration amongst a number of critical parties beyond just the back office, siloed legacy systems and pre-requisite compliance documents that must be validated before funds are released.

This leads to an average payment cycle that often extends more than three months, putting burdens on everyone involved.

Cedar Recovery buys Knoxville facility

Cedar Recovery, a provider of outpatient addiction treatment based in Middle Tennessee, has acquired Occupational Health Services East Knoxville, an opioid treatment facility previously owned and operated by Dr. James Harrison.

Cedar Recovery is an office-based opioid treatment facility licensed by the state of Tennessee Department of Mental Health and Substance Abuse Services now with five locations (Columbia, Knoxville, Lebanon, Mt Juliet and Shelbyville). Cedar Recovery engages patients struggling with substance use disorders.

According to the Centers for Disease Control and Prevention, more than 100,000 people lost their lives to a drug overdose in between 2020 and 2021 with opioids being the primary contributor.

Medication-assisted treatment in an OBOT setting works by combining Food and Drug Administration approved medications, such as buprenorphine and naltrexone, with counseling and care coordination services to provide a comprehensive level of treatment. Unlike in-patient and residential treatment settings, OBOTs allow for same-day and pain-free engagement.

Harrow Health joins Nasdaq Biotech Index

Nashville’s Harrow Health, Inc., an ophthalmic-focused health care company, has been added to the Nasdaq Biotechnology Index.

The Nasdaq Biotechnology Index is designed to measure the performance of a set of securities listed on The Nasdaq Stock Market that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark.

The Nasdaq Biotechnology Index is calculated under a modified market capitalization-weighted methodology. Companies in the Nasdaq Biotechnology Index must meet eligibility requirements, including minimum market capitalization, average daily trading volume and seasoning as a public company, among other criteria. Nasdaq selects constituents once annually in December.

Bridgestone to supply Audi electric SUV

Nashville’s Bridgestone has been selected as tire supplier for the Audi Q4 e-tron – Audi’s first compact, fully-electric SUV.

To meet Audi’s demanding technical requirements for the Q4 e-tron, Bridgestone developed custom-engineered ultra-low rolling resistance summer tires with ENLITEN Technology. Sustainable and lightweight, ENLITEN Technology reduces tire rolling resistance by up to 30% and weight by up to 20% to extend EV driving range and reduce environmental impact.

Howard named director of TN Guard Joint Staff

NASHVILLE (AP) — Brig. Gen. Cassandra Howard will be the new director of the Joint Staff for the Tennessee National Guard, Adjutant General Maj. Gen. Jeff Holmes said.

Howard will manage the Joint Staff of the National Guard, which includes key staff from the Army and Air National Guard, the guard said in a news release.

In civilian life, Howard is vice president and chief medical officer at Methodist Le Bonheur Germantown Hospital in Memphis.

In the military, she has been assistant for mobilization and reserve affairs with the Office of the Assistant Secretary of Defense for Health Affairs in Washington, D.C.