Oakmont Capital, a Meridian-based private equity firm, has agreed to purchase the Union Hotel building at 2000 Front St.

Anthony Thomas with Great Southern National Bank is financing the transaction.

Oakmont Capital is managed by Austin Davis, Brent Gough, and Chad Carmichael.

“We are pleased to have the opportunity to invest in Meridian, ” Davis said in a news release. “Downtown’s redevelopment has great support and momentum, just look at the turnouts for downtown events. Lots of people care about it, us included, and want it to succeed. There are some exciting things happening here and more on the way. I’m proud of Meridian and pleased to call her my home.”