NASHVILLE, TENN. — Tidal Real Estate Partners has received $400 million in construction financing for The Nashville Edition Hotel & Residences, a 28-story mixed-use tower that is under construction in the state capital’s Gulch district. The project will comprise 261 hotel rooms and 84 condos.
Tidal is developing The Nashville Edition Hotel & Residences in collaboration with Left Lane Development and Marriott International. The project team also includes architecture firms ESa and INC Architecture & Design, as well as Corcoran Reverie of Corcoran Sunshine Marketing Group.
The construction financing, which includes both debt and equity, was provided by affiliates of KSL Capital Partners, Madison Realty Capital, Newbond Holdings and affiliates of the developer.
“The Nashville Edition is the type of design-forward, experiential project that elevates an entire neighborhood, and this financing reflects our conviction in both the long-term strength of The Gulch and Tidal’s ability to deliver a truly landmark development,” says Josh Zegen, managing principal and cofounder of Madison Realty Capital.
The hotel component will occupy the lower floors of the tower and will feature various amenities, including a double-height restaurant and bar, lobby lounge, a 50-foot heated saltwater pool with cabanas and a wraparound deck with bar and restaurant service. Additional offerings include event spaces, meeting rooms and a spa.
The top 15 floors of the building will house 84 private condo residences ranging in size from one- to four-bedroom floor plans, including two half-floor penthouse suites. Condos are now available for purchase, with a starting price of $1.6 million.
Resident-only amenities will encompass a fitness center, sports simulator, outdoor terrace, lounges, a game/screening room, private dining room with a catering kitchen and valet parking. Additionally, residents will also benefit from access to the Edition Hotel services, which includes 24-hour concierge and security, personal training options, special event planning, in-residence dining and spa treatments, as well as priority access to the hotel’s planned food and beverage venues.
“Nashville has become one of the most exciting luxury hospitality markets in the country, and The Nashville Edition will be a defining addition to that landscape,” says Dan Rohan, partner and head of tactical opportunities at KSL.
Charleston, S.C., and Palm Beach, Fla.-based Tidal Real Estate Partners has completed roughly $1.2 billion of real estate development projects.
New York-based real estate firm Left Lane Development has developed more than 1.5 billion nationally recognized projects in New York, Brooklyn and throughout the southeast under the umbrella of its Flank, LP and Flank Fund I investment vehicles.
Global private equity firm KSL Capital Partners specializes in the travel and leisure sector, focusing on hospitality, recreation, clubs, real estate and travel services.
Madison Realty Capital manages $23 billion in assets on behalf of a global institutional investor base and has completed $70 billion real estate credit transactions since 2004.
Newbond Holdings is a real estate investment and operating platform specializing in hospitality and multifamily assets, which focuses on acquiring, managing and creating value in hotels and residential properties through equity, debt and operating businesses.
— Abby Cox