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Growing Nashville's Hospitality Market: Hotel Development and Investment Opportunities

Learn about the latest hotel developments throughout the region, the biggest challenges, investments, design trends and more

Greg Friedman

Greg Friedman

CEO & Managing Principal

Peachtree Group

Adi Bhoopathy

Adi Bhoopathy

Managing Principal & Head of Capital Markets

Noble Investment

Jai Patel

Jai Patel

Managing Director & CEO

Vivid Capital

Steve Kirkham
Moderator

Steve Kirkham

Partner

Holland & Knight LLP

Greg Friedman

CEO & Managing Principal

Peachtree Group

Since co-founding Peachtree Group in 2007, Greg has successfully

overseen investments exceeding $11.0 billion in commercial real estate

and various other enterprises.

With over 25 years of experience, he brings extensive experience in credit

and equity investing, particularly in hotels and other commercial real

estate assets. Previously, Greg served as senior vice president of business

development for Specialty Finance Group, where he originated more than

$2.0 billion of credit transactions.

Before that, Greg was vice president of business development for GMAC

Commercial Mortgage Asset-Backed Lending Division. During his six-year tenure, he originated, closed

and funded more than 300 hospitality FF&E financing transactions with an aggregate capital structure

exceeding $10.0 billion.

Greg is a graduate of the University of Texas at Austin and is a board member of the American Hotel &

Lodging Association. He also serves on the real estate fund advisory board for the Texas McCombs

School of Business at the University of Texas at Austin.

Adi Bhoopathy

Managing Principal & Head of Capital Markets

Noble Investment

Mr. Bhoopathy is a managing principal and head of capital markets responsible for debt relationships, asset

dispositions, and transaction management. In addition, he leads contract documentation and closings

related to new acquisitions, development, and financing for all investments.

Mr. Bhoopathy has more than 23 years of hospitality industry experience and has participated in more than

$4.5 billion worth of real estate transactions for the Noble organization since joining the firm in 1999. He

became a partner in 2006 and is a regular panelist at lodging, investment, and financing conferences.

Mr. Bhoopathy earned a BS from the Cornell University School of Hospitality and is a past-president of the

Cornell Georgia Chapter and the Atlanta Hospitality Alliance. He is also a member of the Atlanta Capital

Markets Council for the Urban Land Institute.

Jai Patel

Managing Director & CEO

Vivid Capital

Jai B. Patel serves as the CEO for Vivid Capital, in addition to leading the hospitality investment efforts for a local family office, Essex Development. Prior to founding Vivid Capital in 2020 and joining Essex Development in 2022, Jai enjoyed over seven years at HVS, a consulting and valuation firm that specializes in hotels and resorts. He co-founded the Nashville office for HVS in 2014 and oversaw operations over five states in the surrounding region. Over the course of his career, Jai has consulted on over 250+ existing and proposed hotel and mixed-use projects, worth in excess of $10 billion, highlighted by the Four Seasons, The Joseph, Virgin, and W hotels in Nashville. Jai is currently overseeing a portfolio of over $850 million in mixed-use development for Essex Development, while also growing his alternative lodging portfolio with Vivid Capital across the southeast.

Steve Kirkham

Moderator

Holland & Knight LLP

Real estate emphasis with results-oriented approach

Clients with challenging development schedules or complex real estate acquisitions rely on Steve Kirkham to bring their transactions to successful closings. Steve efficiently handles high-value and high-transaction real estate portfolios for clients operating locations across the country. Despite the heavy development schedules set out by these clients, Steve maintains their timeline and gets the deals done. Described as "unflappable," Steve confidently solves problems with a persistent, yet pleasant style.

Steve is also the top-of-mind attorney for owners and developers of apartment complexes across the country, regardless of whether the project is to acquire new property or assist with complex ownership structures and securitized lending. Steve often oversees his client's broader legal needs, assisting C-suite executives with corporate finance, litigation management, corporate governance and other matters and supervising multi-disciplinary legal teams.

Exploring Nashville's 2023 Retail Activity

Learn about the latest retail opportunities, tenant demands, consumer interests and habits, site-selection and more

Megan Salvador

Megan Salvador

Manager of Regional Real Estate

Wawa

Kimberly Goetz

Kimberly Goetz

VP, Leasing

Toro Development Company

Monika Hartman

Monika Hartman

Senior General Manager

Fifth + Broadway

Erin Hughes
Moderator

Erin Hughes

Counsel

Holland & Knight

Megan Salvador

Manager of Regional Real Estate

Wawa

Megan Salvador is a seasoned commercial real estate professional currently serving as the Regional Real Estate Manager at Wawa Inc. Megan is responsible for overseeing real estate strategies and acquisitions across Tennessee and Kentucky by working with local municipalities, brokers, and developers to ensure successful market expansion on behalf of Wawa.

Prior to joining Wawa, Megan was an Investment Sales Broker at CBRE. Her clients included Fortune 100 companies, public REITs, and private entities, where she facilitated large-scale real estate transactions and managed high-profile landlord assignments. Megan’s performance earned her the prestigious NAIOP National Scholarship in 2022, the Nashville Post’s “In Charge List” in 2023 and 2024, and a 2025 Women of Influence winner with the Nashville Business Journal.

Monika Hartman

Senior General Manager

Fifth + Broadway

As Senior General Manager, Monika Hartman executes the operational and relational strategy for the marquis mixed-use asset, Fifth + Broadway, located in the heart of downtown Nashville, TN. With over 10 years of management experience, Monika has managed across asset classes and geography, from Class A office in Alaska to Medical Office in the southeast United States. This broad range of experience informs her leadership of an asset that includes outdoor retail, a 60,000sf food hall tenant, a 364,000 sf Class A office tower, 384 unit residential operation and over 2,000 parking stalls, all located on Nashville’s lower Broadway. Monika is obsessed with operational excellence, empathetic leadership and constant improvement.

Monika graduated from Indiana University with a BA in International Studies with minors in Political science an Economics. She subsequently earned her Certified Property Manager, CPM, credentials from the Institute of Real Estate Management. Monika is an active member of the Nashville CRE community and is passionate about education, leadership and adding value to the community.

Erin Hughes

Moderator

Holland & Knight

Deep understanding of healthcare transactions

Tenants, landlords, real estate developers and investors rely on Erin Hughes for her legal expertise in connection with real estate leasing, development matters and the real estate aspects of private equity-funded acquisitions. Erin brings insight, experience and energy to strategic acquisitions involving dental support organizations and specialty physician practices. She leads small and large companies through the negotiation of leases for their newest location.

Additionally, Erin assists real estate developers in the acquisition of real property for residential, commercial and mixed-use projects, including several of the high-profile projects that have reshaped the Nashville skyline.

Before joining Waller in 2012, Erin practiced corporate law with a Memphis-based firm where she focused on start-ups and emerging companies, mergers and acquisitions, and private securities offerings. Prior to attending law school, Erin gained valuable real estate experience at a diversified brokerage, development and management firm specializing in downtown lofts and condominiums in Knoxville, Tenn.

The Opening: An Update from Tanger Outlets' Stephen Yalof

Stephen Yalof
Keynote

Stephen Yalof

President & CEO

Tanger Outlets

Jessica Roberts
Moderator

Jessica Roberts

VP Marketing Partnerships

Tanger Outlets

Stephen Yalof

President & CEO

Tanger Outlets

Stephen Yalof is the President and Chief Executive Officer of Tanger Factory Outlet Centers, Inc., a

leading operator of upscale, open-air outlet centers with 36 locations across 20 states and Canada. Steve

joined in April 2020 as President and Chief Operating Officer before succeeding Steven B. Tanger as CEO

in January 2021, bringing with him over 25 years of experience in the commercial real estate industry,

with a primary focus on the retail space. He oversees the operations of the executive and senior

leadership teams, emphasizing evolving the customer shopping experience, and sits on the board of

directors.

Before joining Tanger Outlets, Steve served as the Chief Executive Officer of Simon Premium Outlets,

where he drove forward the expansion and development of their real estate portfolio. He previously

served as Senior Vice President of Real Estate for Ralph Lauren and Senior Director of Real Estate for The

Gap, Inc.

Steve serves on the board of directors for HeadCount and the advisory board for the Center for Real

Estate & Urban Analysis (CREUA) at George Washington University, his alma mater, where he earned a

B.S. in Business Administration.

Jessica Roberts

Moderator

Tanger Outlets

Jessica Roberts is a 20-year marketing and brand partnerships executive specializing in entertainment, retail, and hospitality destinations. Her critical roles with iheart Radio, CBL Properties, and Taubman have culminated in her current position as Vice President, Marketing Partnerships at Tanger where she oversees the strategy and execution of national brand partnerships, delivering profitability to Tanger’s stellar retail properties. Jessica has resided in Nashville since 2006 and has enjoyed a front-row seat to the city’s incredible growth trajectory.

What You'll Learn

  • Nashville hotel industry is forecasted to have an average daily rate of $175.54 in 2023, a 3.5% increase year-over-year. With the area’s hospitality sector experiencing more success than other cities, what types of opportunities could this present for owners and investors? Will we start to see new interest and supply for luxury hotels?

  • With 39 new Nashville downtown retail destinations opening in 2023, suburban areas are also being targeted for new developments and projects. Where are owners and investors deploying their capital? Are tenants attracted to any particular neighborhood over others, and if so, why?

  • Although leisure demand and increase tourist spending have increased nationwide, many hospitality industries are continuing to see challenges in labor supply, construction and operation costs, inflation, interest rates and more. How is Nashville overcoming these types of challenges to continue its hotel, retail and economic growth?

  • What types of benefits are developers and investors seeing in their mixed-use projects, like Nashville Yards, as they evolve retail or hotel components into their development plans?

  • What designs and amenities are being implemented in Nashville's hotel and retail spaces, and how are they remaining cost-efficient?

  • As shopping centers, like Tanger Outlets, move into the market, what types of tenant demands, consumer habits and other trends has the market seen? Have consumers shown less interest traditional e-commerce model, and how are today's retail owners embracing that shift?

How You'll Do More Business: 

After years of the unknown, Nashville's economy, hotel and retail markets are growing at some of the healthiest rates. In 2022, the region had around 14.4 million visitors which also exceeded 2019 levels.  As tourist spending and development demands increase, many owners, developers, investors and tenants are capitalizing on this market and exploring new opportunities being presented in the hospitality and retail sectors. Join Nashville's top executives and tenants as we discuss the latest hotel projects, retail activities, deals and leasing, innovating developments and much more.

Who You’ll Meet: Nashville's top hospitality owners, operators, investors, developers and analysts

Projects, Activity, and Achievements -- 

Tanger Outlets beats analysts' Q4 projections for revenue, earnings

Wawa, ‘America’s Best Convenience Store,’ is coming to Nashville

Nashville Women in Commercial Real Estate

New 210-room Caption by Hyatt hotel in the Gulch District of downtown Nashville

Kimberly Goetz joins Toro Development

The 60-acre mixed-use project, Ovation

For questions, recommendations, comments, press inquiries, or interest in sponsoring, please email our Mid-Atlantic Event Producer, Katie Telder, at katie.telder@bisnow.com. To request disability-related accommodations, please contact brittney.bacon@bisnow.com no later than seven business days prior to the event.

Elevate: A Curated Conference for CRE's Next Generation of Leaders

Introducing Elevate: a new invite-only conference for the industry’s rising stars. Elevate is a unique conference consisting exclusively of owners, developers, capital providers and a select group of brokers with an intentional agenda of skill building workshops, networking activities and insights from industry leaders across the country.

August 16-18 at 1 Hotel Nashville


Click here to apply today: https://www.bisnowelevate.com/

Agenda

Time Activity
1:00 PM
2:00 PM
Registration, Networking and Breakfast
2:00 PM
2:30 PM
The Opening: An Update from Tanger Outlets' Stephen Yalof
2:30 PM
3:15 PM
Exploring Nashville's 2023 Retail Activity

Learn about the latest retail opportunities, tenant demands, consumer interests and habits, site-selection and more

3:15 PM
3:25 PM
Networking Break
3:25 PM
4:10 PM
Growing Nashville's Hospitality Market: Hotel Development and Investment Opportunities

Learn about the latest hotel developments throughout the region, the biggest challenges, investments, design trends and more

4:10 PM
4:30 PM
Closing Networking

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