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VOL. 42 | NO. 41 | Friday, October 12, 2018

Church buys 50,000-square-foot building in MetroCenter

Updated 2:25PM
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The Belonging Co. Church has purchased a 50,000-square-foot property at 201 Great Circle Road in MetroCenter from commercial real estate firm Southeast Venture, which developed the property.

Previously meeting at Rocketown, The Belonging Co. Church was founded in 2013 by co-pastors Henry and Alex Seeley, who moved to Nashville from Australia in 2012.

Southeast Venture developed the MetroCenter property in 2007 for Accredo Health, which vacated the space earlier this year. The Belonging Co. is currently working on converting the space and plans to move in by September 2019.

Metro govt. earns strong bond ratings

Metro Nashville Government has received strong bond ratings from both Moody’s Investor Services and Standard & Poor’s Financial Services.

Moody’s affirmed its Aa2 rating, while S&P affirmed its AA rating for Metro’s general obligation bonds.

Metro Nashville Government is rated by both agencies in conjunction with bond offerings. Both look at factors such as revenue, debt, liquidity and governance to determine their ratings.

In its ratings outlook, Moody’s states “the stable outlook reflects the expectation that Metro’s regional tax base will continue to grow and provide the necessary revenues to support ongoing capital needs and governmental operations, including annual financial support to Metro’s Hospital Authority.”

S&P cites that their rating reflects their assessment of Nashville’s strong economy; strong fiscal management; good financial policies and practices; adequate budgetary performance; strong budgetary flexibility; very strong liquidity; and very strong institutional framework score.

Olmstead Nashville wins design award

Olmsted Nashville, a downtown apartment complex developed and managed by CF Real Estate Services, has been named Multifamily Executive’s Best Mid-Rise Project of the Year.

Olmsted Nashville was the second Olmsted branded development and was developed under the direction of CF’s Brett Oliver. The architect for the project was the Atlanta office of Davis Architects led by Greg Clever.

“Olmsted Nashville’s architecture and design was born to be different,’’ Oliver says. “The project was not reversed engineered from a budget or a design template, but began with a vision and a drive to create a destination for urban life that delivered beyond expectation.

“To achieve this, we very intentionally moved away from the trends that have dominated and homogenized much of today’s multifamily projects.”

The core consideration for this project was “Nashville Made.” Partners included a local fashion designer, Savannah Yarborough, to style the model homes, Southern Lights Electric to create two key chandeliers in the main entry and event spaces, and 1767 Designs to make custom pieces at the center of the pool courtyard, as well as Sideshow Sign Co. to put the final touches on signage and decor.

The lease-up, managed by CF’s in-house management group, was incredibly successful and opened its doors in late December 2017. Olmsted Nashville was able to lease-up without offering concessions.

Olmsted Nashville is five stories of wood construction over a two-story concrete podium that includes secure resident parking. The project is located on a 1.98-acre downtown site at the corner of 5th Avenue and Peabody Street.

Bradley named to ABA’s Top 10 list for health law

Bradley Arant Boult Cummings LLP has been recognized in the American Bar Association Health Law Section’s “Sixth Annual Regional Law Firm Recognition List.” The firm ranked third in the Top 10 list for the South Region.

The list recognizes the top 10 law firms with the largest number of lawyer membership in the ABA Health Law Section as of Aug. 31, 2018, in the following regions: South, Southeast, Midwest, West and Northeast.

Bradley’s Healthcare Practice Group represents a broad range of health care industry clients in a wide variety of matters, from business transactions to litigation to regulatory compliance.

Titan Cloud Software launches partnership

Brentwood-based Titan Cloud Software, a SaaS and IoT company, and M33 Growth, a growth-stage investment firm, have announced a partnership.

The joint venture is designed to accelerate the expansion of Titan’s downstream oil and gas industry solutions for fuel retailers, fleet operators, environmental firms, and Petroleum Equipment Institute service providers, distributors and manufacturers.

M33 Growth’s mission is to partner with bootstrapped, high-growth companies located outside traditional startup hubs who have built industry-leading products.

CarePayment teams with Ares Management

CarePayment, a patient financial engagement company based in Nashville, has entered into an asset-backed revolving credit facility provided by funds managed by affiliates of Ares Management L.P.

CarePayment partners with healthcare providers throughout the U.S. to provide flexible, affordable payment programs to patients with no application and no risk to credit score.

The financing facility with Ares will enable the CarePayment to continue to meet the strong demand from both providers and patients for its comprehensive, flexible, and affordable, 0.00% APR payment plan solutions.

“CarePayment is excited to be working with a respected financial brand like Ares to help fuel our continued growth,” says Craig Hodges, CEO of CarePayment.

“When we set out to identify the best sources of financing for our company’s future, Ares quickly rose to the top because of their financial expertise and strong track record with companies of our size and growth trajectory.”

Providers fully sponsor the program and offer CarePayment to their patients before, during or after clinical care so that any patient who needs help paying their bills has the options they need when they need them.

Once enrolled in a payment program, CarePayment takes over the full billing and payment experience for the patient until payment is made in full. As a result, providers see a significant increase in balance after insurance collections and reduction in bad debt, as well as an increase in patient satisfaction.

Ampersand unveils Medicaid platform

Nashville-based Ampersand Health, a value-based provider of health solutions, has introduced a scalable platform to address health disparities in vulnerable Medicaid populations.

The Ampersand Health Solutions Platform partners with Medicaid-managed care organizations and local health systems for a scalable solution to engage members, align providers, close gaps in care, address social determinants of health, and increase primary care access and capacity.

“Serving America’s nearly 75 million Medicaid beneficiaries’ physical and behavioral health needs is increasingly challenging for states, managed care organizations and local health systems,” says Ampersand Health CEO Tim Petrikin. “Our work in inner-cities over the years has taught us that we can’t do it without aligning other providers. And addressing poverty and poor health requires dramatically different approaches than for commercial and Medicare populations.

“Further, we have to address health where members live, learn, work and worship and can’t merely rely on reactive, clinic-based sick care to improve the health outcomes and lower the more than $500 billion spent in managed Medicaid annually.”

The Ampersand Health Solutions Platform leverages technology, in-community care teams and clinic-based care for a complete solution for Medicaid populations.

State provides funds for stream cleaning

Several Middle Tennessee areas will benefit from state grants from the 2019 aquatic stream clean-up project.

The program from The Tennessee Wildlife Resources Agency assists cities, schools, community organizations, civic groups, watershed organizations and conservation groups.

Among those receiving funding are:

-- Friends of Warner Park for the Little Harpeth River, Vaughn’s Creek and tributaries in Davidson County.

-- Keep Maury County Beautiful for the Duck River in Columbia

-- Keep Putnam County Beautiful for Cane Creek

-- McMinnville Breakfast Rotary Club for Barren Fork and Collins River in Warren County

-- Mill Creek Watershed Association for Mill Creek and tributaries in Davidson County

-- Whites Creek Watershed Alliance

LandFund Partners buys Mississippi farmland

Nashville-based LandFund Partners, a farmland investment and management firm, has announced a contract for its second property in its fourth investment vehicle.

The 1,000-acre contiguous, irrigated farmland property is located in western Mississippi. The firm, which manages over 20,000 acres of farmland, plans to purchase two to three more of its Fund IV pipeline properties in 2018 and 2019.

“We are fortunate to have a strong pipeline and trust in our underwriting methodology, which allows us to be patient,’’ says John Farris, founder and president. “After months of negotiations, we have reached an agreement for Fund IV’s second acquisition.’’

Fund IV builds on the firm’s regional presence in the lower Mississippi River Valley, and will remain open to investors until hitting its $30M equity hard cap.

“While tariffs have caused short-term disruption in certain crop prices, global supply-demand dynamics and the ingenuity of the American farmer have positioned U.S. farmland for continued strong, non-correlated investment returns,” says Chris Morris, managing director.

Middle Tennessee has four Blue Ribbon Schools

Four Middle Tennessee schools have been awarded 2018 National Blue Ribbon School honors.

There were only six in the state, including Donelson Elementary in Arlington and Lakeland Elementary, in Lakeland.

The recognition is based on a school’s overall academic performance or progress in closing achievement gaps among student subgroups.

The schools in the Nashville area are

Discovery School in Murfreesboro, Hume-Fogg Academic High School in Nashville, Merrol Hyde Magnet School in Hendersonville and Scales Elementary in Brentwood.

Now in its 36th year, the National Blue Ribbon Schools Program has bestowed recognition on more than 8,800 schools.

All schools are honored in one of two performance categories, based on all student scores, subgroup student scores and graduation rates:

Exemplary High Performing Schools are among their state’s highest performing schools as measured by state assessments or nationally normed tests.

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