ARLINGTON, Texas – REV Entertainment and VELA Development Partners today announced the formation of RVX Ventures, a sports-anchored development company focused on investing in, developing, and operating best-in-class mixed-use entertainment districts across the United States.
The creation of RVX Ventures formalizes a strategic investment and long-term partnership between REV Entertainment and VELA Development Partners, combining REV’s entertainment and operational expertise with VELA’s real estate development capabilities. Together with key partners, RVX Ventures will target high-growth markets anchored by major universities and professional sports franchises, delivering year-round destinations centered around sports and live entertainment.
REV Entertainment, a wholly owned subsidiary of the Texas Rangers Baseball Club, brings deep experience in large-scale entertainment district development and operations. Working alongside the Rangers, REV played a key role in the creation of Globe Life Field and the broader Arlington Entertainment District, helping transform the area into a year-round destination. The formation of RVX Ventures further expands REV’s platform across its four core business areas: Events, Sports Management, Sports Marketing, and Development.
VELA Development Partners, founded by Nick Benjamin, Taylor Gray and Post Road Group, brings a strong track record of real estate development expertise across high-growth markets including Phoenix, Nashville, Charlotte, Raleigh, Tampa, Colorado Springs, and Knoxville. Benjamin and Gray previously worked alongside the REV team on the development of Texas Live! while serving as executives at The Cordish Companies. During their time at Cordish, they also played leadership roles in projects including the Kansas City Power & Light District, Ballpark Village, and the development of the Live! by Loews hotels in Arlington and St. Louis.
RVX Ventures’ portfolio is headlined by the Neyland Entertainment District, a mixed-use development planned adjacent to historic Neyland Stadium at the University of Tennessee. The project – a joint venture between RVX Ventures, Magellan Development Group, and Dixon Greenwood – was awarded in July 2024 and is expected to break ground this summer.
The Neyland Entertainment District will feature indoor and outdoor entertainment venues, a hotel and condo tower, a new parking structure, and more. The development is designed to enhance the game-day experience while creating a year-round destination for the Knoxville community. It will be the largest development of its kind in the collegiate athletics space when complete.
Beyond Knoxville, RVX Ventures is actively pursuing similar sports-anchored mixed-use developments on a national basis in both the collegiate and professional sports space.
To execute its vision at scale and capitalize on the opportunity to play a pioneering role in the evolution of the college sports landscape, RVX Ventures is collaborating with Magellan Development Group, one of the country’s leading developers of luxury hotel and condominium projects. Magellan is known for developments including the St. Regis in Chicago, as well as the W Hotel in Nashville and the Thompson and Tommie hotels in Austin.
With the formation of RVX Ventures, the company’s Board of Directors will include Sean Decker and Jared Schrom representing REV Entertainment, and Nick Benjamin, Taylor Gray and Kevin Davis representing VELA Development Partners. Jake Miller will serve as Chief Operating Officer. Over his 30-year career, Miller has been involved in the creation and led more than 100 entertainment concepts, bringing extensive operational expertise to oversee the day-to-day execution and performance of RVX Ventures’ developments.
WHAT THEY’RE SAYING
“We have seen firsthand the impact entertainment districts can have in creating economic energy and community pride. We also understand the power of the right partnerships. Our investment in and commitment to VELA allows us to build destinations that enhance the game day experience while driving activity every day in between.”
– Sean Decker, President of REV Entertainment and Principal of RVX Ventures
“We are proud to be expanding our partnership with Sean, Jared and the REV team in forming RVX Ventures. There is no more interesting moment in the history of sports and entertainment-anchored real estate development than today, with collegiate and professional sports growing rapidly and with fan engagement and interest at an all-time high. We are incredibly excited about the opportunity that RVX has to play a role in maximizing this moment by helping our partners grow and create new, generational assets.”
– Nick Benjamin, Co-Founder of VELA Development Partners and Principal of RVX Ventures
“We’ve had the opportunity to work with the principals behind RVX Ventures on a number of projects over the years and are excited to see this new venture come together. The combination of development and operational expertise positions RVX well, and we look forward to future opportunities to collaborate.”
– Peter Luukko, Co-Chairman of Oak View Group
About RVX Ventures: RVX Ventures is a development company positioned at the forefront of two of the fastest-growing segments in the commercial real estate industry: university and professional sports-anchored mixed-use entertainment districts and best-in-class, design-oriented urban apartment towers in high-growth markets. With decades of experience in both spaces and formed through a partnership between REV Entertainment and VELA Development Partners, RVX is the future of real estate development. For more information, visit rvxventures.com.
– RVX VENTURES –
Media Contacts:
Matt Mallian, RVX Ventures/REV Entertainment – mmallian@reventertainment.com