$106 million sale of multi-housing development closes in Nashville, TN

 

Matthew Lawton

NASHVILLE, TN – JLL Capital Markets  has closed the $106 million acquisition of and the $62 million financing for Abberly Riverwalk (formerly known as a Alta Riverwalk), a 304-unit, three-story, apartment community in Nashville, Tennessee.

 JLL represented the buyer, HHHunt, in this transaction, and secured the floating-rate, bridge loan financing on behalf of the new owner.

 

With an anticipated completion of July 2023, Abberly Riverwalk will feature studio, one- and two-bedroom offerings with an average size of 799 square feet.

 Brian Dawson 

 

Community amenities will include direct access to the Greenway Riverside Parkway, sundeck courtyard, outdoor firepit, co-working space, outdoor kitchen and grills, golf simulator, putting green, pet spa, 24/7 fitness club and more.

 

Abberly Riverwalk is positioned off of Highway-12 (15,000 VPD) and the highly trafficked I-65 (53,000 VPD), allowing residents easy connectivity to the rest of the submarket, as well as employment nodes like Downtown Nashville.

Nick Brown

In addition to premier connectivity, the property is positioned along the Cumberland River and also offers an entrance to The Greenway, a 200-mile interconnected trail throughout the metro area.

 

The JLL Capital Markets Investment Sales team that represented the buyer was led by Matthew Lawton, Brian Dawson and Nick Brown and the Debt Advisory team that arranged the financing was led by Travis Anderson and Warren Johnson.

 

“It has been a pleasure working with the entire HHHunt Team on this unique assignment to redeploy significant capital on a strategic basis, building on the already solid foundation that HHHunt has built over many decades,” said Lawton.

 

“The team truly offers a vertically integrated platform that is best-in-class.”

 

JLL was exclusively retained by HHHunt to represent them on an exclusive buy-side representation for a large capital placement of a 1031 transaction, where they sold a significant asset in the Northeast to strategically redeploy into strong, long-term growth markets in the Sunbelt. 

 

 There are a total of five, Class A multi-housing assets acquired in Nashville, Atlanta and Charlotte. HHHunt intends to continue to acquire assets on a strategic basis going forward.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

 

 

 

CONTACTS:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

www.hhhunt.com.   

Veritas Development Introduces Lively Hotel: a new hotel experience by Hilton™, coming to OAK, a vibrant mixed-use district rising in Oklahoma City

 

Sarah Pickard 

OKLAHOMA CITY, OK, Feb. 13, 2023 -- Ryan McNeill of Veritas Development announced Lively Hotel, a 132-key boutique hotel concept by Hilton™, will join the community at OAK, the mixed-use destination rising in Oklahoma City. Vertical construction on the site is underway.

 Ryan McNeill 

Designed as OAK’s “living room,” Lively Hotel is an original concept and part of the Tapestry Collection by Hilton™, a gathering of original upscale hotels.

As Oklahoma’s first Tapestry Collection hotel, Lively Hotel will feature 132 rooms; a 3,050-square-foot bar and restaurant; an elevated amenity deck with a 2,400-square-foot outdoor bar and activated pool area; a fitness center; and over 2,600 square feet of meeting space.

Rendering of OAK Lively Hotel, Oklahoma City, OK

Recently announced retailers for OAK include RH Design Gallery, Arhaus and Capital Grille – with more being announced this spring.

 The scissortail, the state bird of Oklahoma, is the leading design inspiration for the hotel.

Penn Collins

“Lively Hotel is a testament to our belief in a ‘new luxury’ that defines itself with ease and energy,” said Penn Collins, President and CEO for Gatehouse Capital.

 “Historically, Gatehouse’s most successful projects have been lifted by both brand affiliations and partnerships.

 Michael Nagy

"The firm’s work in concert with Hilton, Veritas, and OAK’s tenants promises to bring not only a new hotel product to Oklahoma City, but an entirely new experience to the region.

 

"Benefitting from the amenities provided by this placemaking development, Lively promises to offer both an elevated destination for visitors and a fabulous perch atop OAK for local guests as well.”

 

Chris Speciale

At the ground floor, the hotel will feature 13,500 square feet of retail space. Open Realty’s Michael Nagy and Chris Speciale are already in talks with several new-to-market brands for the retail space, with plans to announce concepts in the coming months.

 

Nelson Worldwide is the hotel architect; Sarah Pickard of Pickard Design Studio is the interior designer. Vincit Constructors, the general contractor, and Valor Bank, the lending partner, are both based in the Oklahoma City area.

Kenny Thomas

 "Valor is excited to be leading the financing for the project,” said Kenny Thomas, Chief Lending Officer. “Lively Hotel will be the first of its kind in Oklahoma and is just one part of the exciting redevelopment of this area of Oklahoma City.

 

"We are honored to be a part of this endeavor and look forward to watching the creative vision come to life over the next 24 months.”

 

The hotel news comes on the heels of several major retail announcements, including RH’s Design Gallery, a new concept encompassing three levels and featuring a Rooftop Restaurant and Garden, Wine Bar, in-house Interior Design Firm and more. Arhaus, a premium home furnishing brand known for its globally inspired, artisan-crafted furniture and decor, will open a 17,000-square-foot space to showcase its products and design services. 

Zac Craig

Upscale steakhouse Capital Grille will open its first location in Oklahoma in a 10,000-square-foot space. Additional retail announcements are planned for later this spring. 

“Within the past two years, Oklahoma City has seen an impressive tourism rebound,” said Zac Craig, President of Visit Oklahoma City. “In 2021, we welcomed 21.4 million visitors with an economic impact of $3.8 billion.

 

"We're excited for OAK to begin taking shape, and know that the mix of top-tier retailers, restaurants, and now, Lively Hotel, will be a significant draw for new visitors, further enhancing Oklahoma City's offerings as a destination.”

Everett Dobson

The OAK community also encompasses 320 multifamily homes, developed in partnership with luxury multifamily housing developer Mintwood Real Estate.

McNeill is joined by Everett Dobson and the Dobson family as partners in the multi-phase project.

 

To learn more, please visit oakokc.com and follow the project on Facebook, Twitter and Instagram.

 

CONTACTS:

 

Michael Nagy - michael.nagy@openra.com

Chris Speciale - chris.speciale@openra.com 

 

The Wilbert Group

Raechel Blitchington

Vice President

www.thewilbertgroup.com

912.432.0858

rblitchington@thewilbertgroup.com

 

www.oakokc.com and follow on Twitter, Facebook and Instagram.

www.mintwoodre.com.    

 

Banesco USA Hosts Grand Opening of its New Corporate Headquarters in East Doral, FL

 

Alina Mayo Azze

Miami, FL, Feb.13, 2023) — Banesco USA, an independent Florida state-chartered bank with $3 billion in assets and six locations between South Florida and Puerto Rico, celebrated the opening of its new corporate headquarters on Thursday, February 9, 2023.

 The complex is located at 3155 NW 77^th Avenue in East Doral.

Banesco USA new corporate HQ
3155 NW 77^th Avenue,
East Doral, FL

 More than 300 guests comprised of community leaders, clients from South Florida, Puerto Rico and multiple Latam countries, and Banesco USA’s Board and executive management members attended the commemoration.

 The program included remarks by Banesco USA Chairman of the Board Carlos Palomares and President & CEO Calixto (Cali) Garcia-Velez. Miami-Dade County District 6

Carlos Palomares 

 
Miami-Dade County District 6 Commissioner  Kevin Marino Cabrera presented Banesco USA with a proclamation congratulating the bank on their grand opening. Alina Mayo Azze, former news anchor on Univision Channel 23, served as the master of ceremonies.

 

Calixto (Cali) Garcia-Velez

“The grand opening event was the culmination of strategic priority that began in 2020 when the former industrial facility was purchased,” stated Garcia-Velez. “This investment reflects our long-term commitment to service business, professional, and commercial clients with a relationship-focused banking model.”

 Kevin Marino Cabrera

 The bank’s new headquarters is a three-story thoughtfully designed building with 60,000-square-feet of dedicated office spaces plus a full-service branch with state-of-the-art amenities.

The ultra-modern headquarters boast an interactive training room, café with in-house chef, an outdoor terrace, and numerous meeting rooms named after famous areas in South Florida and Puerto Rico, for over 300 employees.

 To encourage team collaboration and workflow efficiencies, employees have the freedom to work anywhere in the facility with upgraded technology.

  After all, the heart of Banesco USA is about bringing employees, clients, and the community together for the greater good of all. 

 For more information, visit 

 

CONTACTS:

 

Marianna La Riva

 Account Executive

JWI PR

MIAMI & NYC

Cell +1.954.471.0759

marianna@JWIpr.com

Facebook, Instagram and Twitter @JWIpr

 

Jessica Wade Pfeffer

 305-804-8424

 jessica@jwipr.com

 

Tyler Sminkey

 786-390-8510

 tyler@jwipr.com

 

 BanescoUSA.com.

Twenty Four Seven Hotels Announces Grand Opening of 128-Room Hyatt House Sacramento/Midtown, a 95-Year-Old Former Eastern Star Hall

128-room Hyatt House Sacramento/Midtown,
2719 K Street in the Sutter District, 
Sacramento, CA

 

 SACRAMENTO, CA, Feb. 13, 2023—Twenty Four Seven Hotels, a third-party hospitality management company for premium-branded, select-service and lifestyle hotel segments in the western U.S., announced the grand opening of the 128-room Hyatt House Sacramento/Midtown. 

Amanda Hawkins-Vogel

The adaptive reuse project, owned and developed by Hume Development, Inc., repurposed the former Eastern Star Hall, which is located in the heart of Sacramento's art, music and cultural scene.

                  “The Hyatt House Sacramento/Midtown is the perfect marriage of the classic and the contemporary, providing the latest amenities and services in a setting that draws heavily from its nearly century-old history to provide a uniquely Sacramento experience,” said Amanda Hawkins-Vogel, chief operating officer, Twenty Four Seven Hotels.  

 

Chef Graham Forbes

“This hotel is an extension of our presence in Northern California and marks our first opening this year with two more to come in 2023. 

 

 As the newest hospitality offering in the city, we expect the Hyatt House Sacramento to quickly take its rightful place as the segment and market leader for business and leisure travelers.”

Situated at 2719 K Street in the Sutter District, the pet- and family-friendly hotel is near Capital Mall, Crocker Art Museum and the Old Sacramento Waterfront. 

Crocker Art Museum, Sacramento, CA

Guest rooms are designed to mimic studio apartments, with kitchens in 87 rooms, ideal for extended stays. 

The Hyatt House also provides four suites with separate bedrooms, two of which are specialty owner suites featuring high ceilings and Restoration Hardware fixtures.

Hotel amenities include complimentary Wi-Fi, 24/7 fitness center, guest laundry, business center and 700 square feet of flexible meeting space.

 

Old Sacramento Waterfront

Guests can grab a quick snack at the Hyatt House’s grab-n-go sundry shop or a full morning meal at the complimentary breakfast bar. 

Additionally, guests and locals may dine at the Star Lounge, a full-service restaurant and bar, located on the hotel’s third floor.

Star Lounge continues the tradition of being a gathering place, offering happy hour, an inventive craft cocktail menu and dinner featuring small plates, burgers and steaks. 

Capital Mall, Sacramento, CA

The lounge is led by Chef Graham Forbes, formerly the chef de cuisine at the Kimpton Sawyer Hotel.

The Romanesque Revival-style building first opened in 1928 as a Masonic women’s meeting place and is listed on the National Register of Historic Places. 

Star Lounge, Sacramento, CA

While keeping the major architectural features of the historic building intact, the renovation included the redevelopment of five floors within the original structure that includes the lobby, restaurant, fitness center and meeting space, as well as the addition of a new three-story annex that includes additional hotel rooms.  

The hotel’s history is incorporated throughout the building by using the original front doors, tables, plaster, brick and a repurposed pulpit as the host’s stand.

 

CONTACT:

 

Chris Daly, media

(703) 864-5553

chris@dalygray.com

 

www.247hotels.com