MSF Real Estate Capital, Inc. announces the closing of the largest single transaction in the firm’s 34 year history

July 19, 2018

MSF Real Estate Capital, Inc. is proud to announce the closing of the largest single transaction in the firm’s 34 year history.  In May, The Pizzuti Companies of Columbus, Ohio closed on its purchase of the 0.79-acre site in the SoBro neighborhood of downtown Nashville where they will develop, The Joseph Nashville, a Luxury Collection Hotel, part of Marriott International, at a total cost of $168 million.  Project financing was simultaneously closed after being arranged by MSF Real Estate Capital.  The complicated financing assignment included the placement of a $83.5 million senior construction loan provided by Centennial Bank, NA, a $42 million mezzanine construction loan provided by a New York-based private equity firm and project equity, which was a combination of Pizzuti equity alongside a variety of institutional and private investors.  Additionally, the project financing included a $4.5 million Tax Increment Financing Package together with capital commitments made by Marriott and the Convention Center Authority.

Located on the corner of Korean Veterans Boulevard and Fourth Avenue South, the full-service luxury hotel will include 297 guest rooms, a signature restaurant and bar offering Italian cuisine, over 18,000 square feet of banquet and meeting space with an elevated outdoor terrace, and one-of-a-kind rooftop. Embracing the Luxury Collection’s reputation for providing unparalleled guest experiences, the twenty-first floor of The Joseph Nashville will feature a full-service spa, state-of-the-art fitness center with floor-to-ceiling windows, an expansive pool deck and contemporary bar.

Creating an experience that is unique to Nashville, the Joseph will highlight an original Tennessee art program, where the work of local artists will adorn the walls of every guest room throughout the hotel. The Joseph Nashville art program will be complemented in the public spaces by art from the Pizzuti family’s private art collection.  In a further nod towards its commitment to supporting to the arts, the development will include a structured parking garage with 180 spaces dedicated to the exclusive use of the Nashville Symphony.  In addition to providing the symphony with a long-term parking solution, the partnership supports the expansion of the hotel’s art program to include performing arts.

The original Joseph Hotel opened in 2015 and is located in the Short North Arts District in downtown Columbus.  The award winning, art-themed Columbus hotel has become the standard of excellence for luxury hotel accommodations in Columbus. 

About MSF Real Estate Capital, Inc.

MSF is a Columbus, Ohio based mortgage banking firm specializing in the placement of permanent and construction financing for commercial real estate assets throughout the continental United States. Since its inception, MSF has been involved in transactions with an aggregate principal amount in excess of $8 billion secured by multifamily, retail, office, industrial, hotel, healthcare real estate, and mixed-use properties located in 22 states.

About the Pizzuti Companies

The Pizzuti Companies is a recognized leader in the development, marketing and management of real estate. Pizzuti has developed more than 40 million square feet of Class A office, medical and healthcare, retail, residential and institutional-quality industrial facilities throughout the Midwest and Southeast regions of the United States. Pizzuti also has considerable experience working with local governments in the development of creative public-private partnerships. A leader in sustainable design practices, Pizzuti has completed build-to-suit and speculative construction projects in each of their major markets. Pizzuti Solutions LLC, a wholly owned subsidiary, boasts a staff with decades of combined public-sector work experiences, and focuses extensively in the areas of public facilities, sports and recreation, cultural facilities, education and strategic planning.

About Centennial Bank, NA

Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”

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