Tidal Real Estate Partners, via its Flank GP Fund I, has secured $400m (€341m) in debt and equity financing to develop a landmark hotel and residential tower in Nashville.
The Nashville EDITION Hotel and Residences will be built by Tidal Real Estate in The Gulch neighbourhood of Nashville and will comprise 261 hotel rooms and 84 private condominium residences. Construction has already started.
The debt and equity financing was provided by affiliates of KSL Capital Partners, Madison Realty Capital in partnership with Newbond Holdings, and affiliates of the developer.
Mick Walsdorf, CEO of Tidal Real Estate Partners, said: “As we make strides toward delivering The Nashville EDITION, we are excited to partner with KSL, Madison and Newbond to bring this world-class project to life.
“Following our strong initial sales reception, this construction capitalisation marks a major milestone that reflects the continued strength of Nashville’s luxury real estate and hospitality markets, as well as the confidence of our capital partners in the city’s long-term growth. We are proud to contribute to the city’s dynamic urban evolution through this landmark development, which will set a new standard for luxury experiences in Nashville.”
Dan Rohan, partner and head of tactical opportunities at KSL, said: “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.”
Josh Zegen, managing principal and co-founder of Madison Realty Capital, said: “We are pleased to support Tidal Real Estate Partners in bringing the EDITION brand to Nashville, a market that continues to see extraordinary growth in both hospitality and residential demand. This financing reflects our conviction in both the long-term strength of The Gulch and Tidal’s ability to deliver a truly landmark development.”
Neil Luthra, founding partner of Newbond Holdings, said: “Nashville continues to establish itself as one of the country’s most dynamic hospitality markets, and The Nashville EDITION represents the level of best-in-class development we are committed to supporting.”
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