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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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