KKR’s Arctos Backs $288 Million Tennessee Stadium District (1)

Arctos Partners, the private equity firm with stakes in more than 20 pro-sports franchises, has partnered with RVX Ventures, a real estate development platform and Magellan Development Group to build mixed-use entertainment districts adjacent to sports stadiums.

The group’s first project is a $288 million joint venture to develop a mixed-use entertainment district adjacent to the University of Tennessee’s Neyland Stadium. This project, which includes a 24-story hotel, apartments, a private club, and 100,000 square feet of entertainment space, is part of a growing trend of investors finding ways to invest into college sports.

Large-scale stadium development ...