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VIRGIN NASHVILLE PROJECT EB-5

Interimm © > Portfolio > EB5 > VIRGIN NASHVILLE PROJECT EB-5

PROJECT FEATURESx

  • Rooftop pool and social area featuring panoramic views of Nashville’s cityscape
  • Over 18,000 square feet of flexible indoor/outdoor meeting and event space
  • Property will offer multiple food and beverage outlets, such as The Commons Club, Virgin Hotel’s signature concept combining an upscale full-service restaurant, a lounge with a comprehensive cocktail menu and communal areas for work and pleasure
  • Access to 190-space underground parking garage providing ample parking for guests
  • Guest rooms feature the award-winning (Fast Company) innovative two chamber design, ideal for business and leisure travelers
  • Innovative technology allows guests to use a mobile app to adjust the thermostat, control the television,order room service, live chat with other guests, and communicate with the hotel staff

INVESTMENT DESCRIPTIONx

  • 5-year investment term
  • Limited Partnership will be a member of the Sponsor that owns the land and the hotel through a wholly-owned intermediate entity
  • Limited Partnership receives 100% priority to cash flow to achieve annual return after bank loan repayment

EXIT STRATEGYx

  • Sale or refinance after Year 5
  • Limited Partnership receives 100% priority to sale or refinance proceeds after bank loan repayment
  • Projected exit value – $119,310,000 based on independent appraisal

TIMELINEx

  • EB-5 Fundraising – Q1/Q2 2017
  • Construction Start – Q3 2017
  • Construction Completion – Q1 2019
  • Construction Period – 20 months
DOWNLOAD PROJECT TIMELINE

PROJECT OVERVIEWx

  • 260-room, 14-story luxury full-service Virgin hotel. Centrally located in the famed Music Row District, which is the heart of Nashville’s music industry.
  • Surrounded by offices of numerous record labels, publishing houses, music licensing firms, recording studios, and other businesses directly related to the music industry.
  • Nashville has consistently been ranked as one of the fastest-growing cities in the country for hotel room demand and performance over the last three years.
  • Less than a 10-minute walk to Vanderbilt University,  one of the leading higher education institutions in the nation with an enrollment of over 13,000 students.

BRAND HIGHLIGHTSx

  • Virgin Hotels is a fast-growing lifestyle brand, which is part of the global Virgin Group, a company with over 60 million customers, $24 billion in branded revenue, and more than 65,000 employees
  • The first Virgin hotel opened in Chicago in 2015, with additional locations under development in Nashville,New York, Northern California, Dallas, Silicon Valley, New Orleans and Palm Springs
  • Virgin Hotels Chicago won the 2016 Conde Nast Traveler Reader’s Choice Award for the best hotel in the US