Partnership to be implemented in mixed use with the acquisition of a strategic gateway site
CHARLOTTE, NC and HOUSTON, Nov. 4, 2021 /PRNewswire/ — Barings, one of the world’s leading investment managers, and Hines, the global genuine real estate company, announced that they have formed a joint venture to win the Reed District in Nashville for the long-term progression of a 2. 7 million square foot multiphase mixed-use project.
Reed District represents a unique investment opportunity for a 12-acre entry site in Midtown Nashville into a community-directed mixed-use destination with uses aimed at music, art, food and entertainment. a year-old Coca-Cola building, turning it into a trendy and artistic grocery shopping mall and soon offices, apartments, hospitality, lifestyle and must-have high-rise amenities, all in one layer in between. Nashville’s nonstop urban Renaissance road.
Phase I of the Reed District will total more than 800,000 square feet and the structure is expected to begin by the time of quarter 2023 and will come with the fundamental progression of a 300-unit apartment structure, a 300,000-square-foot workplace structure, and a 250-key Hotel. The adaptive reuse of a former Coca-Cola bottling plant to feature 100,000 square feet of artistic workplaces and destination lifestyle retail outlets and an activated green area that will serve as the centerpiece of the entire project.
Nashville has been ranked among the 10 most sensitive metropolises for population expansion and tasks over the 8 years and remains a target for business relocations, wise economics professionals and artistic talent. , education and tourism call drivers positions it well to grasp the call of long-term users of the area that is cutting edge and focused on the Nashville lifestyle.
“The progression of the Reed district joint venture is a continuation of the former developing urban centers of Barings and Hines. The Reed district will be a transformative progression that will connect the West End and downtown Nashville,” said Chris Black, Barings’ lead executive director. Head of Real Estate Acquisitions, Western United States
Vikram Mehra, senior general manager and Nashville city chief for Hines, added, “We have the privilege of painting with Barings to rebuild this walkway site, honor the coke building’s long history and the legacy of the Reed family, while creating thoughtful progression to meet the desires of Nashville’s next generation of users. “
Barings and Hines anticipate that this strategic progression will feature cutting-edge assets with desired ESG-specific features and LEED and WELL certifications, making the assignment a desirable next-generation campus that is at the forefront through cutting-edge companies.
About Barings
Barings is a global investment manager of more than $387 billion* that seeks differentiated opportunities and builds long-term portfolios in government and personal bond markets, real estate, and specialty inventory markets. With investment professionals in North America, Europe and Asia-Pacific, the company, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to adopting sustainable practices and responsible investments. Learn more at www. barings. com.
* Asset control as of September 30, 2021
About Hines
Hines is a privately owned global real estate investment corporation founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees approximately $83. 6 billion in investment assets under management¹. In addition, Hines supplies third-party properties to more than 367 households. Hines has developed, remodeled or acquired approximately 1,486 homes, totaling more than 492 million square feet. Historically, the company has more than 171 ongoing breakthroughs worldwide. and all types of property, and a basic commitment to ESG, Hines is one of the largest and most reputable genuine real estate organizations in the world. Visit www. hines. com for more information. as of June 30, 2021.
Contact
Cheryl Krauss, Barings, 980-417-5858, cheryl. krauss@barings. com
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SOURCE Barings