As part of a new three-way venture, BentallGreenOak, Flank Management and Geolo Capital have acquired the Hutton Hotel in Nashville in an all-cash purchase for an undisclosed price. 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.”
The 11-year-old Hutton Hotel has 250 guestrooms and suites, a writers' studios for musicians and a social club and entertainment venue with live performances. The property also has three dining spaces (a coffee shop, an all-day restaurant and bar serving modern takes on classic diner food and a 5,000-square-foot social club/entertainment venue).
Additional hotel amenities include a Tesla Model S house car for guest transportation, a fitness center with Peloton bikes and more, spa treatment suites and in-room record players with vinyl albums upon request. Hutton Hotel also has more than 20,000 square feet of event and creative space, including 13,600 square feet of flexible space on one floor for larger functions.