Driftwood Capital jumps into Nashville project

NASHVILLE – Miami-based Driftwood Capital has placed preferred equity and will oversee construction of a 300-room Tempo and Homewood Suites hotel near Oracle's future $1.35 billion headquarters and Nissan Stadium at the center of Nashville.

In partnership with Nashville-based Skyline Hospitality and Patrick Culligan, along with Tampa-based Sonari Capital Partners, the 18-story, 300-key hotel will include approximately 10,000 square feet of meeting space, food and beverage options, and a rooftop component overlooking Downtown Nashville.

Driftwood’s involvement includes not only preferred equity financing, but also full-scale development oversight through Driftwood Development Services. Upon completion, long-term operations management will be overseen by Driftwood Hospitality Management.

“The Nashville hospitality market continues to demonstrate impressive growth and resilience, particularly in the future East Bank district, which is poised to become a vibrant epicenter anchored by Oracle's forthcoming headquarters,” said Pranav Bhakta, senior vice president, Corporate Business Development of Driftwood Capital.

“We are excited to partner with Driftwood Capital across investment, development, and management to bring the Tempo and Homewood Suites by Hilton dual-brand hotel to life in the heart of Nashville’s East Bank,” said Jaimin Patel, managing principal of Sonari Capital Partners. “We are confident this project will deliver a high-quality hospitality experience that aligns with the dynamic growth of the surrounding district, including Oracle’s headquarters and the new Nissan Stadium.”