Category: Hospitality

Property details

nashville, tennessee

Pendry Hotel & Residences by Montage

Investment type

Development

Asset Class

Hospitality

Ownership Structure

Joint Venture

Year Acquired

2024

Investment Summary

The ground-up development of the Pendry Nashville Hotel and Residences by Montage Hotels and Resorts, located within the Gulch, a premier neighborhood in Nashville, TN. The Project will be developed and managed by a joint venture partnership with deep experience in all facets of hotel and residential development, and is comprised of Trestle Studio (“Trestle”), JE Dunn Construction, and SomeraRoad Inc. The Project is scheduled to break ground in October 2024 and to deliver in mid-2027.

The Project will include a 30-story hotel and residential tower comprised of 146 luxury condominium units and 180 hotel rooms, all under the Pendry brand. Pendry is a boutique luxury hotel and residential brand that operates properties in upscale areas of West Hollywood, Newport Beach, New York City, San Diego, Chicago, Park City, Washington DC, and Baltimore.

The ground floor and second floor amenities will include separate hotel and condo lobbies, a 100-seat restaurant, a 75-seat lobby bar/café, and over 13,000 square feet of meeting and event space comprised of a ballroom, conference facilities, writer’s room & library, parlors, and meeting room. The third floor will include a 10,500 square foot hotel pool and indoor/outdoor pool bar and lounge, as well as a fitness center. It will also feature a 6,000 square foot condo lounge area and terrace, including an exclusive condo pool separate from the hotel amenities.

Floors 4-11 will be dedicated hotel rooms, with oversized guestrooms that are approximately 10% larger than the competitive set, including 28 rooms that will be designed as suites. Floors 12-30 will be residences, with penthouse units on the 28th-30th floors. The 30th floor rooftop will have exclusive condominium amenities including a whiskey and billiards room, chef ’s kitchen, and an outdoor lounge. Condominium residents will have access to all hotel amenities, including cleaning service, room service, concierge and associated benefits.

Property details

Chattanooga, Tennessee

Choo Choo Hotel

Investment type

Development

Asset Class

Hospitality

Ownership Structure

Joint Venture

Year Acquired

2023

Investment Summary

The Property is located at 92 Choo Choo Avenue, within the campus of the iconic 7-acre former railroad station known as the Chattanooga Choo Choo Terminal Station.  The Property currently consists of the MacArthur building, a two-story H-styled building with 75 hotel rooms and a lobby with a double height indoor pool, a 1,675 square foot retail building, and an 81-space parking lot. 

Once renovated, the Property will feature 127 keys/rooms, including a unique offering of boutique hotel rooms in repurposed train cars, state-of-the-art banquet and catering facilities, a lounge/restaurant, and 1,749 SF of retail space.  The existing pool area will be converted into a 3,000 SF, column-free event space with a new roof so that the hotel can better attract high-rated group business such as weekday corporate events and weddings over the weekend. 

Property details

orlando, florida

Holiday Inn – Universal Orlando

Investment type

Value Add

Asset Class

Hospitality

Ownership Structure

Joint Venture

Year Acquired

2020

Investment Summary

Syndicated invested alongside InSite Development Group in a 10-story, 390-room, full-service hotel situated directly across the street from the entrance to Universal Studios in Orlando, Florida. Over the past three years, the property has achieved strong occupancy rates idue its location and accessibility via Interstate 4 and Florida State Road 435.

Upon acquisition, the property will undergo a property improvement plan to significantly upgrade and modernize the meeting rooms, common areas, and guest rooms, which will greatly enhance the guest experience and create additional value through higher room rates and hosting higher-rated group business.

Property details

Rosemont, illinois

Embassy Suites & DoubleTree

Investment type

Value Add

Asset Class

Hospitality

Ownership Structure

Joint Venture

Year Acquired

2019

Investment Summary

Syndicated invested alongside Nath in the acquisition of the DoubleTree and Embassy Suites in Rosemont, Illinois.

The DoubleTree, which is situated on 1.83 acres, consists of a 9-story, 369-room hotel that shares a parking garage and pedestrian access with the Donald E. Stephens Convention Center, an 840,000 square foot facility owned and maintained by the Village of Rosemont. Gibson’s, a nationally recognized Chicago steakhouse, operates a 350-seat restaurant on the ground floor of the DoubleTree.

The Embassy Suites, which is situated on 2.12 acres, consists of an 8-story, 294-room hotel with 410 parking spaces within the attached parking garage.

Property details

Indianapolis, INdiana

Marriott Courtyard

Investment type

Value Add

Asset Class

Hotel

Ownership Structure

Joint Venture

Year Acquired

2018

Investment Summary

Situated invested alongside Arbor Lodging Partners in a three-story, 90-room Marriott Courtyard located at 7226 Woodland Drive, Indianapolis, Indiana.

Originally developed in 1997, the Property includes amenities such as a business center, indoor pool, whirlpool, outdoor patio/terrace, fitness center, convenience store/sundry shop, and guest laundry room. The Property also features an on-site food and beverage area called the Bistro, which offers a breakfast buffet, espresso bar, and made-to-order hot items, as well as limited room service, dinner, and drinks in the evening at a la carte prices.