Arctos Sports, RVX Ventures and Magellan Development Group Secure Construction Financing for Neyland Entertainment District at University of Tennessee
Entertainment District On Track For 2028 Opening
KNOXVILLE, Tenn. – Arctos, a business of KKR, RVX Ventures (“RVX”), a real estate development platform specializing in mixed-use entertainment districts, and Magellan Development Group (“Magellan”), a national leader in urban mixed-use real estate, today announced the successful closing of construction financing for the Neyland Entertainment District, a new development spanning the Tennessee River waterfront adjacent to Neyland Stadium at the University of Tennessee, Knoxville (the “University”).
Structured as a public-private partnership with the University, the development will feature approximately 100,000 square feet of entertainment space alongside a 24-story hotel and residences, along with a private members club, designed to enhance the gameday experience while creating a year-round destination for the Knoxville community.
Project leaders also announced that construction on the existing G10 parking garage, the first major phase of the development, began last week. The garage is expected to be completed by the end of 2027.
“We are excited to move from planning into the next phase of construction,” said Taylor Gray, Principal of RVX Ventures. “This project will create a vibrant, year-round district that strengthens the connection between the University, the City and the surrounding community.”
Layton Construction is serving as the project’s general contractor, and Hord Coplan Macht (HCM) is serving as architect for the entertainment district, with Gensler serving as architect for the hotel. Bank OZK is providing construction financing for the hotel and residential tower, while First Bank of Tennessee is providing construction financing for the entertainment district.
The entertainment district is expected to be completed in 2028, with the hotel and condominium tower slated for completion in 2029. A ceremonial groundbreaking for the overall project is planned for September 2026, with additional details to be announced at a later date.
About the Neyland Entertainment District: The Neyland Entertainment District is a transformative mixed-use development adjacent to Neyland Stadium at the University of Tennessee. Developed through a public-private partnership between the University of Tennessee, RVX Ventures, Magellan Development, and Arctos Sports, the project is designed to create a year-round destination featuring entertainment, hospitality and residential offerings that enhance the gameday experience and support the continued growth of Knoxville.
About Arctos: Arctos seeks to partner with exceptional leaders in sports and private markets to help them grow and unlock their vision. Founded in 2019 and acquired by KKR (NYSE: KKR) in 2026, Arctos is a part of KKR Solutions, a new global investing business at KKR, and serves as a catalyst for innovation, growth and business transformation across complex, illiquid and underserved markets.
Arctos is a team of business-builders, investors, operators and data scientists, which provides growth capital and liquidity solutions, differentiated thought partnership and purpose-built value creation capabilities. Its strategies include Arctos Sports, which partners with premium sports owners and franchises, and Arctos Keystone, which provides strategic capital solutions to leading alternative asset managers, real estate operators and investment managers, their funds and portfolio companies. Underpinning this approach is Arctos Insights, a proprietary quantitative research and data science platform, which supports Arctos’ investment process, market perspectives and partnership model. For more information, visit www.arctospartners.com or Arctos’ LinkedIn.
About RVX Ventures: RVX Ventures is a real estate development platform focused on mixed-use entertainment districts and design-forward urban multifamily projects in high-growth markets across the United States. The firm’s leadership team has played key roles in the development, ownership, operation, and activation of several nationally-recognized entertainment districts and mixed-use destinations around the country. Combining expertise across development, sports, entertainment, operations and hospitality, RVX creates destinations that drive long-term economic value and shape how people live, gather and connect. For more information, visit rvxventures.com.
About Magellan Development: Founded in 1996, Magellan Development Group is a national leader in urban mixed-use real estate — investing in, developing, and managing premier properties across the United States. Having delivered over $8 billion in total development value across residential, hotel, office, and retail projects, Magellan prides itself on being a builder of neighborhoods that transcend traditional single-asset development. Its portfolio includes some of the most recognized addresses in the country, from the landmark St. Regis Chicago, Thompson Austin, and W Nashville to the master-planned districts of Lakeshore East in Chicago and Union Square in Somerville, MA. For more information, visit magellandevelopment.com.
About Bank OZK: Bank OZK (Nasdaq: OZK), through its Real Estate Specialties Group (RESG), provides financing on commercial real estate projects throughout the nation. RESG is considered a preeminent, market-leading construction lender focused on senior secured financing for a variety of property types including mixed use, multifamily housing, condominiums, office, hospitality, life sciences, industrial, cold storage, self-storage and retail. For the five years ended June 30, 2026, RESG originated approximately $38.75 billion in new loans. For more information, visit ozk.com.
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MEDIA CONTACTS:
Jason Baum, University of Tennessee Athletics – jbaum@tennessee.edu
Kristen Duarte, Arctos Sports – media@kkr.com
Matt Mallian, RVX Ventures – mmallian@rvxventures.com
Magellan Development – media@magellandevelopment.com