A Nashville-based real estate investment firm is working toward a contract to buy the six-story Tower at Renaissance office building.

Elmington Capital Group was picked from among parties that had expressed interest after the tower, located atop downtown’s Renaissance Nashville Hotel, was put back on the market roughly two months ago. The company signed a letter of intent to buy the nearly 100,000-square-foot building from Rodgers Welch Venture Inc., which includes the estates of both deceased Republican fundraiser and Nashville businessman Ted Welch and his business partner, Joe M. Rodgers, the onetime U.S. ambassador to France.

Douglass Johnson, a broker with CBRE Capital Markets in Nashville, who listed the tower along with his colleague, Steve Preston, plus Barry Smith and Dan Bauchiero of Eakin Partners, confirmed that a buyer had been selected.

“We are proceeding to get the transaction wrapped up,” he said, declining to identify the selected local group. “We’re in final negotiations on a contract.”

The Tower at Renaissance is 85 percent leased. Public relations firm McNeely Pigott & Fox, the Tennessee Chamber of Commerce & Industry and law firm Brewer, Krause, Brooks Chastain & Burrow are among the largest tenants.

The building at 611 Commerce St. has 175 parking spaces for office tenants in the garage underneath the nearby Nashville Public Library garage.

Elmington Capital, whose partners include Nashville developer Scott Sohr, already owns roughly a half-million square feet of office space, including downtown Nashville’s 75,000-square-foot St. Cloud Corner office and retail building.

The company also owns four office buildings in Huntsville, Ala., with about 350,000 square feet of space overall, roughly 97,000 square feet of office and retail space off Nashville’s Demonbreun Street and the 25,828-square-foot Eighth Avenue Commons retail strip center in Nashville’s Melrose area. It also owns 1,500 apartment units and, through management company Elmington Property Management, manages roughly 7,500 units in nine states across the Southeast.