Reed District represents a distinctive investment opportunity to transform a 12-acre gateway site in Midtown Nashville into a community-driven mixed-use destination with uses focused on music, art, food and entertainment. The project will take inspiration from the historic character of the approximately 100-year-old Coca-Cola building, converting it into a modern and creative shopping center and developing offices, apartments, hospitality services, stylish of living and essential high-rise services, all in one interlayer. frame located directly on the way to Nashville pursuit of urban renaissance.
Phase I of the Reed District will total over 800,000 square feet and construction is expected to begin in the second quarter of 2023 and will include the basic development of a 300-unit apartment building, 300,000 office building square feet and a 250 key hotel. , the adaptive reuse of a former Coca-Cola bottling plant to include 100,000 square feet of creative office and destination lifestyle stores and an activated green space that will serve as the centerpiece of the entire project .
Nashville has ranked in the top 10 metropolises for population and employment growth over the past eight years and continues to be a target for business relocations, knowledge economy professionals and creative talents. The location of Reed District at the convergence of Nashville demand drivers from business, healthcare, music, education and tourism position it well to capture demand for Nashville innovative and lifestyle-oriented future space users.
“The Reed District joint venture development builds on the longstanding relationship between Barings and Hines targeting growing urban centers. The Reed District will be a transformative development connecting the West End and Downtown Nashville,” noted Chris Black, Barings Managing Director and Head of Real Estate Acquisitions, Western United States
Vikram mehra, senior general manager and head of the city of Nashville for Hines, added, “We are privileged to work with Barings to redo this important entry site, honor the long history of the Coke building and the legacy of the Reed family, while crafting a thoughtful development to meet the needs of Nashville next generation users. ”
Barings and Hines predict that this strategic development will feature cutting-edge assets with desired specific ESG characteristics and LEED and WELL certifications, making the project a desirable next-generation campus in high demand by innovative companies.
Barings is a more than $ 387 billion * global investment manager who seeks differentiated opportunities and builds long-term portfolios in public and private bond markets, real estate and specialty stock markets. With investment professionals based in North America, Europe and Asia Pacific, the company, a subsidiary of MassMutual, aims to serve its customers, communities and employees, and is committed to sustainable practices and responsible investment. Learn more about www.barings.com.
* Assets under management at September 30, 2021
Hines is a private global real estate investment company founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management totaling approximately $ 83.6 billion¹. Additionally, Hines provides third-party property-level services to over 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The company currently has more than 171 developments underway around the world. With extensive experience in investing across the risk spectrum and all types of property, and a fundamental commitment to ESG, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information. Includes both the World Hines Organization as well as RIA AUM as of June 30, 2021.
Cheryl krauss, Barings, 980-417-5858, [email protected]