Hilco Global provided a $47.5 million loan to support the recapitalization and continued development of The Bend, a large-scale, mixed-use riverfront project in Chattanooga, Tennessee, sponsored by Urban Story Ventures (USV).
The loan optimizes the capital structure, enabling the sale of individual parcels to vertical developers and the introduction of new potential equity partners who share in the project’s long-term vision.
Located along more than 3,000 linear feet of Tennessee River frontage and adjacent to downtown Chattanooga, the Bend encompasses over 100 acres.
The current development plan for the Bend envisions approximately 1,700 residential units, 1.1 million square feet of office space, 1.2 million square feet of retail, 600 hotel rooms, entertainment and cultural venues, and a 300-slip marina. An independent economic analysis conducted by Younger & Associates has projected that the development could generate nearly $1 billion in new investment over the next 30 years.
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