C.B. Ragland Company

What C.B. Ragland Company does

C.B. Ragland Company (CBR) is a family-owned real estate owner, developer, and manager headquartered at 222 2nd Avenue South in downtown Nashville, Tennessee. Founded in 1919 as a wholesale grocery business (the 10th largest privately held wholesaler in the US at peak), CBR exited grocery in 2002 and transitioned fully into real estate, today operating a 700,000+ square foot, 18-property portfolio across Nashville's SoBro, Berry Hill, and Gulch neighborhoods spanning office, retail, industrial, hospitality, mixed-use, and parking asset classes. The company functions simultaneously as a long-term owner-operator and as a fee developer / construction manager / joint venture partner for institutional capital sources including JP Morgan Asset Management, CALSTRS, Hines, Magellan Development, and Hyatt Hotels.

CBR's revenue is generated through four primary streams: (1) recurring rental income from owned office, retail, industrial, and parking assets; (2) hospitality income from owned/operated hotels (Hyatt Centric Downtown Nashville with 252 rooms, Caption by Hyatt Nashville – The Gulch with 210 rooms) via joint ventures with Hyatt and HRI Hospitality; (3) development and construction management fees on projects such as Brooklyn Bowl and the 222 Building (a 362,000 SF Class AA office tower delivered in 2017); and (4) equity participation in joint venture developments such as the 2nd & Van Buren luxury multifamily project in Germantown planned for 2026. The company has no proprietary technology platform; operations rely on conventional real estate systems with license plate recognition deployed across owned parking facilities. Customer relationships are primarily direct enterprise leases with national and regional tenants (Verizon, Brooklyn Bowl / Live Nation, Hyatt, Pancake Pantry, Dierks Bentley's Whiskey Row) negotiated on a transaction-by-transaction basis without public rate cards.

CBR is led by CEO Michael W. Hayes and President Bill McKnight, supported by a recently expanded finance and property management bench (CFO Chris Stranix joined 2023). The company has executed a disciplined develop-and-sell strategy alongside long-term holds, with notable realizations including the W Hotel sale for $329mm in March 2022 at a $950,000-per-key record and 400 Broadway for $30.5mm in May 2022. Operating scope is regionally limited to Nashville and Middle Tennessee; the company is privately held with no public listing, no disclosed funding rounds, and 11-50 employees.

Name

C.B. Ragland Company

Legal name

C.B. Ragland Company

Website

https://cbragland.com

Company type

Private

Founded year

1919

Operating status

Operating

Headcount range

11–50 employees

Short description

Family-owned Nashville real estate owner, developer, and manager operating 18 commercial properties across office, retail, industrial, hospitality, and mixed-use sectors. Develops through joint ventures with institutional capital and hotel brands while managing a 700,000+ square foot portfolio in Middle Tennessee.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development and Management

NAICS

Real Estate Property Managers (53131), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Offices of Real Estate Agents and Brokers (53121)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

akta.pro secondary industries

Mixed-Use Community Association Management (BPAJAHAF), Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Commercial real estate development
• Property management services
• Mixed-use property development
• Hospitality development partnerships
• Adaptive reuse real estate

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Property Rental Income: CBR owns and operates 18 commercial properties across Nashville, generating rental income from office, retail, industrial, hospitality, and mixed-use tenants.
2. Development Fee Income: The company serves as fee developer and construction manager on development projects, earning development and construction management fees. CBR served as fee developer and construction manager for projects like Brooklyn Bowl.
3. Joint Venture Development: CBR participates in joint venture development partnerships, contributing land/entitlement and development expertise in exchange for equity participation and development fees.
4. Land Development: CBR acquires entitled development sites and constructs new developments for sale or long-term ownership, such as the 2nd & Van Buren multifamily development scheduled for 2026 ground-breaking.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

C.B. Ragland Company is a family-owned commercial real estate owner, developer, and manager headquartered in Nashville, Tennessee. The company owns and operates 18 commercial properties spanning office, retail, industrial, hospitality, and mixed-use assets, while also providing fee development, construction management, and joint venture development services across Middle Tennessee. Its portfolio includes Class AA office towers (e.g., The 222 Building), branded hotels (Hyatt Centric, Caption by Hyatt, W Hotel), and adapted historic properties in the SoBro, Berry Hill, and The Gulch neighborhoods.

Product overview

C.B. Ragland Company (CBR) is a family-owned real estate owner, developer, and manager that operates a diversified portfolio of 18 commercial properties across Nashville, Tennessee. Founded in 1919, the company offers integrated real estate services including office, retail, industrial, hospitality, and mixed-use property development and management. The portfolio includes landmark properties such as The 222 Building, The Ragland Building, Hyatt Centric Downtown Nashville, Caption by Hyatt Nashville – The Gulch, and various industrial and parking assets. CBR serves as fee developer, construction manager, owner's representative, and joint venture partner on development projects, while maintaining ownership and management of operating properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Office Property Management Management and operation of commercial office buildings across Nashville, including The 222 Building (362,000 SF Class AA office tower), 3200 West End Avenue (77,219 SF), 1101 McGavock Street (57,327 SF), and The Ragland Building (89,195 SF). Targets enterprise office tenants seeking modern workspace in downtown Nashville.
• Retail Property Management Management and leasing of retail spaces across the Nashville portfolio, including 29,000 SF of ground-level retail at The 222 Building and various retail tenants in mixed-use properties. Serves retailers and restaurants seeking high-visibility locations in Nashville's premier neighborhoods.
• Industrial and Warehouse Properties Ownership and management of industrial and warehouse properties in Nashville including The Eugenia Campus (255,508 SF across 5 buildings on 15.4 acres in Berry Hill), 640 Thompson Lane (110,000 SF warehouse), and 101 Molloy Street (55,299 SF office/data center). Serves industrial and logistics tenants.
• Hospitality Development and Management Development, ownership, and management of hotel properties including Hyatt Centric Downtown Nashville (252 rooms, JV with Hyatt Hotels), Caption by Hyatt Nashville – The Gulch (210 rooms, JV with HRI Hospitality, opened December 2024), and 312 12th Avenue South (W Hotel, 350 keys, JV with Corner Partners and Magellan Development, sold March 2022 for $329mm). Targets hospitality operating partners and hotel brands.
• Mixed-Use Property Development Development of mixed-use properties combining office, retail, hospitality, and entertainment uses, including landmark Nashville developments in SoBro district, Berry Hill, and The Gulch. Targets commercial tenants, retailers, and entertainment operators.
• Parking Operations Management of parking facilities including The Ragland Garage (357 stalls), McGavock Garage (150 stalls), Ragland Parking Lot (284 spaces), and 109 12th Ave S (36 spaces), utilizing license plate reader technology. Targets tenants, visitors, and downtown Nashville commuters.
• Real Estate Development Services Fee development and construction management services, including roles as owner's representative and joint venture partner on major Nashville developments such as Brooklyn Bowl (60,000 SF entertainment and office complex). Targets project owners, joint venture partners, and development clients.
• 2nd & Van Buren Multifamily Development Fully entitled 3.3-acre development site in Germantown planned for a luxury multifamily community of approximately 390 units, scheduled for 2026 ground-breaking. Targets multifamily tenants in Nashville's growing market.

Quantifiable outcome

• Property sold at $30.5mm (per-foot record for Nashville at the time)
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• HinescoreStrategic or Co-development PartnerHines served as co-developer with CBR on the 222 Building joint venture partnership with JP Morgan Asset Management and CALSTRS.
• HRI HospitalitycoreStrategic or Co-development PartnerHRI Hospitality is joint venture partner with CBR on the Caption by Hyatt Nashville development.
• Hyatt HotelscoreStrategic or Co-development PartnerHyatt Hotels is joint venture partner with CBR on the Hyatt Centric Downtown Nashville hotel development.
• JE Dunn ConstructionminorImplementation/ SI/ Consulting PartnerJE Dunn Construction is listed as a construction/development partner.
• PinnacleminorOthersPinnacle is listed as a partner entity.
• MetropolisminorOthersMetropolis is listed as a partner entity.
• PMCminorOthersPMC is listed as a partner entity.
• HastingsminorOthersHastings is listed as a partner entity.
• Corner Partners, LLCcoreStrategic or Co-development PartnerCorner Partners, LLC partnered with CBR officers to acquire the strategic parcel at 312 12th Avenue South in the Gulch neighborhood for the W Hotel mixed-use development.
• Magellan DevelopmentcoreStrategic or Co-development PartnerMagellan Development joined the W Hotel partnership to develop the 350-key W Hotel with 3 restaurants, opening Q2 2021.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Highwoods Properties: Publicly traded office REIT concentrated in high-growth Sun Belt markets including Nashville. Highwoods' Best-in-Class office focus, Sun Belt geographic strategy, and institutional partnerships make it a direct asset-class peer for evaluating office portfolio performance and cap rate trends.
• Hines: Global real estate investment, development, and management firm that partnered with CBR on the 222 Building JV alongside JP Morgan and CALSTRS. Operates broadly across office, mixed-use, hospitality, and residential at a much larger scale, but shares CBR's institutional JV model and Class A office development approach.
• Cousins Properties: Sun Belt-focused publicly traded office REIT that develops, owns, and manages Class A office towers. Cousins and CBR both operate trophy office product in growth markets with institutional partners, providing a direct comparable for asset quality, tenant profile, and capital structure benchmarks.
• Brandywine Realty Trust: Publicly traded real estate investment trust focused on office, mixed-use, and life-science properties in Philadelphia, Austin, and other select markets. Brandywine's mixed-use development approach and adaptive reuse of urban assets align with CBR's strategy across multiple asset classes.

Direct peers

• AJ Capital Partners: Nashville-based real estate investment and development firm focused on boutique lifestyle hotels and mixed-use projects. AJ Capital's adaptive-reuse approach to historic properties and concentration in Nashville mirrors CBR's strategy on a smaller scale, making it a close peer in both product type and geography.
• Ryman Hospitality Properties: Nashville-headquartered real estate and hospitality company that owns and operates large-scale entertainment and hospitality assets. Ryman and CBR both combine Nashville-centric real estate ownership with branded hospitality exposure (Gaylord brand), making them directly comparable in geography, scale, and asset mix.

Regional players

• Simpson Property Group: Large privately held multifamily developer headquartered in Nashville with a regional Southeast footprint. Simpson's Nashville base, multifamily specialization, and private ownership structure make it a relevant regional peer for evaluating the multifamily expansion that CBR is pursuing at 2nd & Van Buren.
• Northwood Ravin: Southeast-focused multifamily developer with a significant presence in Nashville and the Carolinas. Northwood Ravin's Nashville concentration and multifamily development pipeline overlap with CBR's planned 2nd & Van Buren luxury multifamily project, providing a peer benchmark for that vertical.
• Healthcare Realty Trust (Healthpeak Properties): Nashville-headquartered healthcare and office REIT with a large footprint of medical office and life-science properties. Shares CBR's Nashville base and exposure to commercial office assets, providing a useful local-market comparison for occupancy, rent, and cap-rate benchmarks.

Peers

• Crescent Real Estate: Privately held real estate investment, development, and management firm focused on mixed-use, office, hospitality, and multifamily properties in growth markets. Crescent's diversified asset strategy, mixed-use development approach, and private ownership structure parallel CBR's model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about C.B. Ragland Company