(Nashville, TN) December 10, 2015 – LifeWay Christian Resources announced today it has signed a letter of intent Thursday to purchase a 2.7-acre site in Capitol View, a large mixed-use development in downtown Nashville’s North Gulch district. Northwestern Mutual Real Estate is developing the 32-acre Capitol View site at Charlotte Avenue and 11th Avenue North with Boyle Investment Co.
“I am very excited about LifeWay’s opportunity to remain in downtown Nashville, only a few blocks from our historic location,” said Thom S. Rainer, LifeWay president and CEO.
Rainer added: “As a major employer with a significant presence in downtown, LifeWay looks forward to helping transform and grow the North Gulch as a vibrant and strategic section of our city. And we couldn’t be more pleased with the partnership with Northwestern Mutual. The deal has progressed quickly and smoothly.”
Jeff Haynes, partner with Boyle Investment Co. said, “Boyle and Northwestern Mutual are pleased that LifeWay has selected Capitol View for its new Nashville headquarters. LifeWay’s decision affirms our efforts to create a master-planned mixed-use urban neighborhood, complete with office, retail, restaurants, hotels and apartments, all in close proximity to the city’s bikeway greenway trail and an urban park.”
Rainer said LifeWay will immediately begin due diligence on the property located at the northwest corner of 11th Avenue North and Jo Johnston Avenue where it plans to construct a 250,000 square foot corporate headquarters. Until the new building is ready for occupancy, LifeWay is leasing back a portion of its former property for 1,100 downtown employees.
Founded in downtown Nashville in 1891, LifeWay is the largest Christian resource provider in the world. The ministry publishes tens of millions of Bible studies, books and Bibles each year, operates a nationwide chain of Christian stores, employs over 5,000 staff, and generates half a billion dollars in revenue annually.
About Capitol View
Capitol View is a land joint venture between Northwestern Mutual Life Insurance Company and Boyle Investment Company. Capitol View will be a walkable, dynamic, urban space offering convenient access to downtown Nashville, The Gulch, Vanderbilt University, the new Nashville Sounds Baseball Stadium, the Nashville Farmer’s Market, Germantown, New Salem and East Nashville. The 32-acre mixed-use development will be home to 1,000,000 square feet of office space, 300,000 square feet of retail and restaurants, 2 hotels, 1000 multifamily residential units, an urban park and community space, and more, conveniently located at Charlotte and Interstate 40, providing quick and easy access to all parts of Nashville and downtown. HCA will open its headquarters for Parallon and Sarah Cannon in the fall of 2016. www.capitolviewnashville.com
About Boyle Investment Co.
Boyle Investment Company owns the property in conjunction with partner Northwestern Mutual. Boyle is committed to creating engaging, sustainable mixed-use communities with a conservative approach and commitment to quality. Founded in 1933 by three Boyle brothers in Memphis, the Nashville office opened in 2001. Boyle provides on-site leasing, management, and development services at Capitol View Nashville. Other notable Boyle mixed-use projects include Berry Farms in South Franklin, CityPark Brentwood and Meridian Cool Springs. www.boyle.com
About Northwestern Mutual Real Estate
Northwestern Mutual Real Estate is the real estate investment arm of Northwestern Mutual and one of the largest real estate investors in the nation, with investments in commercial mortgage loans and equities across all major property types.
An essential ingredient in maintaining Northwestern Mutual’s financial strength and ability to deliver value to its policyowners is the performance of the company’s $195 billion general account investment portfolio, assets that back the company’s insurance and annuity products.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $230 billion in assets, $27 billion in revenues, nearly $90 billion in assets under management in our investment products and services, and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual is recognized by FORTUNE magazine as one of the “World’s Most Admired” life insurance companies in 2015.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Real Estate Investments, LLC; Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company.