Three-Way Joint Venture Acquires Hutton Hotel in Nashville, Tennessee
As part of a new three-way venture, BentallGreenOak (BGO), Flank Management LP(Flank), and Geolo Capital (Geolo) today announced the acquisition of the Hutton Hotel in Nashville, Tenn., in an all-cash purchase for an undisclosed price. Credited with energizing Nashville's West End neighborhood upon opening in 2009, the Four-Star, Four Diamond Hutton Hotel weaves a creative spirit across 250 guest rooms and suites, Writers Studios for musicians, and a social club & entertainment venue with live performances.
"We are pleased to make our relationship with Geolo and BentallGreenOak official as partners in this transaction"
Given the ongoing global health crisis that has impacted the commercial real estate market since March 2020, the joint acquisition among BGO, Flank and Geolo signals a significant and exciting hospitality transaction. The deal is the first of what BGO, Flank and Geolo hope will lead to more strategic partnerships to come.
"We're believers in the resiliency of the Nashville market and are excited to be partnered with our friends at Flank and Geolo on this investment," said Mark Van Zandt, Managing Partner of BGO.
"We are pleased to make our relationship with Geolo and BentallGreenOak official as partners in this transaction," said Ken Copeland, Flank CIO and Partner. "Despite the challenges we all face in the current environment, we remain committed to Nashville and believe in its strength as a top hospitality investment market in the long-term."
"We're thrilled to partner with BentallGreenOak and Flank Management LP to have secured the Hutton Hotel acquisition during such an unprecedented time across all industries," said John Pritzker, Founding Partner and Director of Geolo Capital. "This venture is a testament to the power of collaboration and fills us with optimism for the months and year ahead."
Hutton Hotel offers an immersive journey into Nashville's creative music culture from its central Midtown location near the world-famous honky-tonks and entertainment venues of Music Row. The hotel features 250 sophisticated guest rooms and suites including three penthouse suites, two Writers Studios for writing and recording music, and three dining concepts encompassing a coffee shop, all-day restaurant & bar serving modern takes on classic diner food and a 5,000-square-foot social club & entertainment venue with live performances in an inviting living room setting. Additional hotel amenities include a Tesla Model S house car for guest transportation, a state-of-the-art fitness center with Peloton bikes and more, spa treatment suites, and in-room record players with vinyl albums upon request. Hutton Hotel also offers more than 20,000 square feet of event and creative space including 13,600 square feet of flexible space on one floor for seamless events, meetings and celebrations.