Description

In January 2010, officers of CBR acquired in partnership with Corner Partners, LLC the strategic parcel at 312 12th Avenue South in the Gulch neighborhood. The Company worked with the partnership to envision a mixed-use development on the site to include residential and hotel uses. The partnership joined with Magellan Development, which then developed the 350-Key W Hotel with 3 restaurants, which opened in Q2 2021. CBR’s role was primarily land entitlement, management of concept design, demolition and site work. The hotel was sold in March 2022 for $329mm, or $950,000 per key, a record per-key price in Nashville.