Barings and Hines partner to develop mixed-use project in US

WCN Editorial Team 5 Nov 2021 NORTH AMERICA BUILDINGS

Barings has formed a joint venture partnership with real estate firm Hines to acquire the Reed District site in Nashville, Tennessee, in the US to develop a mixed-use project.

The project will include the transformation of a 12-acre gateway site located in Midtown Nashville into a new mixed-use destination with food, art, music, and entertainment-oriented uses.

As part of the project, a 100-year-old Coca-Cola building will be converted into a modern retail and office hub.

The new 2.7 million square foot mixed-use development will also include construction of apartment, high-rise office, lifestyle, and essential services.

The first phase of the project will be more than 800,000ft2 and include construction of a 300,000ft2 office building, a 300-unit apartment building and a 250-key hotel.

It will also include construction of 100,000ft2 of office and destination lifestyle retail as well as green space at the Coca-Cola bottling plant site.

Barings Real Estate Acquisitions, Western US managing director and head Chris Black said: “The joint venture development of Reed District is a continuation of the long-standing relationship between Barings and Hines targeting expanding urban centers.

“The Reed District will be a transformative development connecting the West End and Downtown Nashville.”

Construction work on the first phase of the project is scheduled to begin in the second quarter of 2023.

Hines Nashville city head and senior managing director Vikram Mehra said: “We are privileged to be working with Barings to remake this important gateway site, honour the longstanding history of the Coke Building and legacy of the Reed family, while crafting a thoughtful development to serve the needs of Nashville's next generation users.”

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Illustration of the Reed District Site in Nashville, the US. Credit: Barings and Hines/ PRNewswire.

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