In an effort to expedite the expansion of its boutique lifestyle concept, Louisville, Kentucky-based 21c Museum Hotels has announced a new financial partnership with Junius Real Estate Partners. Under the agreement, Junius Hospitality Partners (JHP) will invest up to $250 million in dedicated capital for building or acquiring new properties in new locations for 21c to grow.
Financing has already closed on the first joint venture: the 21c Museum Hotel Nashville, a revitalization of the city’s historic downtown Gray & Dudley Building. Housing 124 guestrooms, 10,500 square feet of museum and event space, and five rooftop-level rooms, the hotel will debut in the first half of 2017 under joint ownership, with 21c managing.
The past 18 months alone have seen 21c double its footprint, adding three new hotels and restaurants and 31,000 square feet of contemporary museum and event space to its portfolio. The brand currently operates six hotels and seven restaurants.
