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VOL. 45 | NO. 9 | Friday, February 26, 2021

Eco-friendly hotel opens at oneCity

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Noble Investment Group has announced the opening of its new LEED-certified Element Nashville Vanderbilt West End.

The upscale hotel is a part of the vibrant oneC1TY community and is the newest addition to Marriott International’s eco-conscious Element by Westin brand.

The hotel features an open and modern outdoor-inspired design that includes an open-air terrace, saline infinity pool and street-level dining and retail. The hotel has 175 studio and one-bedroom suites feature spa-inspired bathrooms, fully equipped in-room kitchens.

Element by Westin also features Studio Commons, a unique rooming concept in which guests have the option to share a kitchen and living area with family or friends with up to four private adjoining rooms. Operated by Aimbridge Hospitality, the hotel ensures a healthy, safe stay corresponding to Marriott’s Commitment to Clean along with Aimbridge’s AIMClean protocols which include best-in-class safety standards.

VU designates $55M for Owen upgrade, expansion

The Vanderbilt Owen Graduate School of Management will begin work on the renovation and expansion of Management Hall in March.

The estimated $55 million project will extend the business school’s space by 50%, encompassing a total of 48,000 square feet. The expanded building will include areas to better accommodate the wider Vanderbilt and Nashville business communities. Virtual tours

Coming on the heels of the Owen School’s 50th anniversary, this project has received significant support from donors. The Owen Century Partners, a group of early supporters of the project, committed more than $13 million to help launch the building renovation and expansion. Since then, more alumni have committed additional gifts, bringing the fundraising total to over $20 million.

Group invests $42.4M for Nashville apartments

CIT Group Inc. has announced that its Real Estate Finance business provided $42.4 million in financing for the construction of the new apartment complex in Nashville.

It will be called NOVEL Harpeth Heights by Crescent Communities.

The new four-story, 322-unit multifamily development will be built in Bellevue by Crescent Communities and its development partner, Pearl Street Partners.

The project, which will include a pool, clubhouse and other amenities, will feature studios and one-, two- and three-bedroom apartment homes. It is scheduled for completion in about two years and is conveniently located just 15 minutes from the Nashville metro area.

CIT’s Real Estate Finance business, part of the Commercial Finance division, originates and underwrites senior secured real estate transactions. With deep market expertise, underwriting experience and industry relationships, the group provides financing for single properties, property portfolios and loan portfolios.

$270K grant to Glencliff UMC to aid homeless

The Village at Glencliff has been awarded a grant for $270,000 to provide medical respite on the campus of Glencliff United Methodist Church for those experiencing homelessness in Nashville.

This award is one of nine national grants provided by the Center for Disease Control Foundation and the National Institute for Medical Respite Care.

The Village at Glencliff will open this spring.

The grant funds will be used to support three units, medical equipment, staffing and operational expenses and includes two years of customized technical assistance from the National Healthcare for the Homeless Council’s National Institute for Medical Respite Care.

“We are incredibly grateful to CDCF, NIMRC and all of our community supporters for recognizing the importance of compassionate, transformative medical respite care in Nashville,” says the Rev. Ingrid McIntyre, executive director of The Village at Glencliff. “Through this grant, we are one of a growing community of organizations making long-term impact in addressing the cycle of health care and homelessness. Participation in this national pilot that models collaboration across sectors of housing and health care is an honor.”

TVG provides a dignified, loving and hospitable medical respite/bridge housing community of 22 micro homes on the five-acre campus of GUMC. This community serves Nashville’s most medically-vulnerable citizens experiencing homelessness. By meeting each individual’s most basic needs, residents are empowered to focus on healing and permanent supportive housing.

FB Financial approves repurchase of stock

FB Financial Corporation, the parent company of FirstBank, has announced that its board of directors authorized the repurchase of up to $100 million of the company’s outstanding common stock.

FB Financial is a bank holding company headquartered in Nashville.

The repurchase authorization will be in place until March 31 and replaces the company’s previous authorization, which expired Dec. 31.

The timing and amount of any shares of the company’s common stock that are repurchased under the program will be determined by the company’s management based on its evaluation of market conditions and other factors. Repurchases may be executed through the open market or in privately negotiated transactions, including under Rule 10b5-1 plans.

SERVPRO makes national Top 10 list

SERVPRO, a cleanup and restoration franchise company based in Gallatin, has been named a Top 10 overall franchise opportunity by Entrepreneur Magazine, as well as the No. 1 position in the cleaning and restoration industry for nearly 20 years in a row.

“In 2020, SERVPRO franchises across the U.S. and Canada responded to numerous natural disasters such as hurricanes along the Gulf Coast and East Coast and wildfires in the West,’’ CEO Rick Isaacson says. “But it was the launch of SERVPRO’s new disinfecting and COVID-19 cleanup service that tested and proved the company’s resolve.”

The company’s most common revenue lines come from residential and commercial fire and water cleanup and restoration. Franchises respond to natural disasters such as wildfires and hurricanes, including a record-setting 2020 storm season. “We’re basically a first-response company, so we go in when everyone else is running out,” Isaacson says.

Pinnacle earns 2020 Greenwich awards

Nashville’s Pinnacle Financial Partners won 27 Greenwich Excellence and Greenwich Best Brand Awards for 2020.

Only one bank in the nation won more, and Pinnacle is the only one in the Southeast to earn more than 20. These awards are national and regional honors earned by banks who have measurably distinctive brands and service quality. This is Pinnacle’s 111h year of earning Greenwich Excellence and Greenwich Best Brand Awards.

Greenwich Best Brand Awards are based on interviews with more than 23,000 small business and middle market business leaders about experiences with their bank. Of more than 600 banks evaluated, only 13 were found to have a measurably distinctive brand among small businesses, and 13 among middle market companies.

Pinnacle was one of only five banks nationwide that swept all four Greenwich Best Brand Awards for Trust and Ease of Doing Business, which are widely recognized as the keys to client satisfaction, loyalty and long-term relationships.

Pharos’ Charter Health buys Omaha companies

Pharos Capital Group, LLC, a private equity firm based in Nashville and Dallas, announced that its post-acute care provider platform, Charter Health Care Group has acquired Physmed Home Health Care and Serene Care Hospice.

The sister companies, both based in Omaha, were both owned by Domer Sodusta and managed by chief executive officer Jake Panowicz. Financial terms of the transaction were not disclosed.

Charter, based in Southern California, is a provider of post-acute care services that offers a broad spectrum of programs for patients navigating the last years of life, including hospice, home health, complex care management and palliative care services. The company serves over 4,000 patients in six states.

Physmed strives to provide safe, quality-based health care services to patients in their place of residence. The company specializes in geriatric care, providing physical therapy, occupational therapy and speech therapy, as well as social work and dietician services plus a wide array of skilled nursing assistance.

Serene Care provides comprehensive, in-home, end-of-life care. The Serene Care team works closely with each patient and family to develop a personalized treatment plan to support their physical, emotional and spiritual needs. Services include nursing, spiritual care, bereavement, social work and other specialty practices.

Panowicz will serve as Charter’s vice president of Home Health.

Preston named to Curator collection

Nashville’s Hotel Preston, a Provenance hotel, is now also a member of the Curator Hotel & Resort Collection.

The Preston is located near the airport and downtown. The eclectic, art-filled boutique hotel boasts 196 rooms and southern-inspired dining options.

Curator has added 10 other boutique lifestyle properties, ranging from Hotel Lucia in Portland, Oregon, to The Old No. 77 Hotel in New Orleans.

Batteries Plus to open Nashville franchise

Batteries Plus has signed 20 franchise agreements, including a franchise in Nashville, which will add 30 new locations to the system’s 700+ network of specialty retail stores.

In addition, the brand added another nine new stores in January alone.

The company, founded in 1988 and headquartered in Wisconsin, is a leading omnichannel retailer of batteries, specialty light bulbs and phone repair services for the direct-to-consumer and commercial channels.

Zoo’s food drives scores big for CRC

Nashville Zoo’s first “Souper Bowl Food Drive” collected more than 21,000 pounds of food and was the largest collection ever for the Community Resource Center.

CRC partnered with the Zoo to receive and distribute shelf-stable food to more than 25 pantries located in eight counties around Middle Tennessee.

From Feb. 7 (Super Bowl Sunday) to Feb. 13, Nashville Zoo asked guests to donate shelf-stable food including peanut butter, cereal and canned fruit, meat and vegetables.

In return, the Zoo offered a complimentary admission ticket for every four donated items with a limit of two tickets per household. After two days, the Zoo had collected more than 3 tons of food.

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