KNOXVILLE, Tenn. (Story courtesy of WVLT) – An iconic piece of Knoxville’s skyline will likely have a new bank’s name spread across its top. Apex Bank announced Tuesday it had purchased Riverview Tower in downtown Knoxville, also known as the Truist building.
The 24-story office building is located at 900 S Gay St. The purchase also includes the 421-space attached garage. The sale’s deed put the value at $44,170,000.
“We are proud to make this investment because we believe deeply in Knoxville’s future,” said Dave Miller, CEO of Apex Bank. “With 95 years of history and our headquarters in this city, we are honored to own this landmark, reaffirming our commitment to the people and places we serve.”
The purchase also represents a pretty hefty investment by Apex Bank in the Knoxville area.
“This acquisition is about more than real estate; it is a strategic investment in the city we call home,” said Matt Daniels, Chairman. “Bringing Riverview Tower under local ownership for the first time in decades ensures that a cornerstone of Knoxville’s skyline remains tied to the growth and stability of a local institution.”
Apex Bank said it’s employees would take up a portion of the building, and the rest of the building’s tenants would be keeping their spots.
Apex itself was founded in 1931. In 2008, Daniels purchased it and set the bank on a course for growth.
