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Atlanta Investors Shaking Up Nashville Apartment Market

Atlanta Investors Shaking Up Nashville Apartment Market

By Eliza Theiss, Associate Editor Two of the multifamily’s biggest moves in the Nashville market of late have come from Atlanta-based operators. First, there was the groundbreaking of the 200-unit ParkCentral on Centennial Park, which was followed by the sale of the 220-unit Velocity in the Gulch. Located at 320…

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Sheraton Downtown Nashville Sold for $47.5 M

Sheraton Downtown Nashville Sold for $47.5 M

By Eliza Theiss, Associate Editor Los Angeles-based JRK Hotel Group, a subsidiary of JRK Property Holdings, announced the purchase of a landmark Nashville hotel: the Sheraton Nashville Downtown Hotel. According to a Nashville Post report JRK paid $47.5 million for the downtown facility, $10 million more than the latest appraisal…

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Ground Broken at 71-Acre Green Mixed-Use Project Franklin Park

Ground Broken at 71-Acre Green Mixed-Use Project Franklin Park

By Eliza Theiss, Associate Editor Decades of sustained development continue in the Cool Springs market, a top destination for relocating Fortune 500 companies and other corporations with the groundbreaking of the unprecedented 71-acre mixed-use sustainable corporate community Franklin Park. Located on the corner of McEwen Drive and Interstate 65 in…

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255-Key Hyatt Place Breaks Ground

255-Key Hyatt Place Breaks Ground

By Eliza Theiss, Associate Editor Thanks to Music City Center, Nashville’s ambitious 19-acre downtown convention center scheduled to open next year, investors have flocked to Nashville’s downtown area to develop hotel property after hotel property. Case in point: Hyatt Place Nashville/Downtown, the 255-key hotel that recently broke ground in downtown…

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147-Room Indigo Hotel Sold in Foreclosure Auction

147-Room Indigo Hotel Sold in Foreclosure Auction

By Eliza Theiss, Associate Editor Global investment management firm Archon Group LP recently acquired the 147-room Hotel Indigo at 1719 West End Ave. at a foreclosure auction, bidding $18 million, or $122,000 per room. According to The Tennessean, Irving, Texas-based Archon purchased the boutique hotel through a limited-liability corporation, bidding…

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Lingerfelt Acquires 484,000 Sq. Ft. Office Portfolio

Lingerfelt Acquires 484,000 Sq. Ft. Office Portfolio

By Eliza Theiss, Associate Editor Lingerfelt Companies of Richmond, VA has announced the purchase of a 484,04-square-foot office portfolio dubbed Nashville Airport North Portfolio from Highwoods Properties, Inc. The buyer paid $41 million. The portfolio is comprised of five Class A office buildings located in Nashville’s airport submarket, in three…

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Ramada Inn Gets Makeover, Becomes Cedar Hotel

Ramada Inn Gets Makeover, Becomes Cedar Hotel

By Eliza Theiss, Associate Editor The former Ramada Inn at 1471 Brooks Road is getting a multimillion dollar facelift from a group of Chicago investors. According to The Memphis Daily News, Cedar Street Hospitality purchased the 245-key hotel in a 2010 auction for $1.55 million. Re-branded as the Cedar Hotel…

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