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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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