Congress Group, AECOM Capital to Develop $360M Four Seasons Hotel in Nashville
NASHVILLE, TENN. — A partnership between Boston-based developer The Congress Group Inc. and AECOM Capital will develop the Four Seasons Hotel and Private Residences, a $360 million project in Nashville.
The property will comprise 232 hotel rooms, an undisclosed number of for-sale residential units, 10,000 square feet of retail space and a 368-space parking garage. Construction is slated to begin sometime during the second quarter of 2019.
Located at 151 First Ave. South, the hotel will overlook the Cumberland River and offer immediate proximity to the Broadway entertainment district, as well as Nissan Stadium, home of the NFL’s Tennessee Titans. In addition, the hubs of four of the five largest employers in Nashville — including Pinnacle Financial Partners and Bridgestone — are located in close proximity to the hotel.
Riaz Cassum, Danny Kaufman, Robyn King, Andrew Gray and Mary Dooley of HFF worked on behalf of the development team to arrange $360 million in debt and equity financing for the project. The lender and loan terms were not disclosed.
“This transaction garnered strong interest from both lenders and equity investors via the strength of the sponsors and their vision for a world-class development on the best site in Nashville,” says Cassum. “The arrival of Four Seasons to Nashville speaks volumes to the attractiveness of the city as a destination for both leisure and business, as well as one of the most desirable places to live in the country.”
Four Seasons is a luxury hotel brand. Its sub-brand, Private Residences, offers for-sale luxury condominiums, often co-developed within the same building as a Four Seasons hotel.
— Taylor Williams