DAC Developments Acquires Development Site In Nashville For $22 Million

A development site located at 319 Peabody Street in Nashville was sold for $22,000,000. The property encompasses nearly an acre and is earmarked for a multi-use project featuring a 53-story hotel and condominium tower, which will include 405 hotel rooms and 104 condos, along with retail spaces and various amenities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $22,000,000
• Address: 319 Peabody Street
• Market: Nashville
• Buyer: DAC Developments

The property acquisition is intended for a significant development project by DAC Developments, which plans to create a prominent hotel and condominium complex at the site. The transaction reflects the company's strategic investment in Nashville's real estate market.