Dreamscape Cos Acquires Historic Holston House Hotel In Downtown Nashville For $60.1M
118 7th Avenue North
$60,100,000
Building Size
—
Asset Type
Hotel
Closing
Nov 14, 2023
About this deal
AI
Dreamscape Cos, led by Scott Broder, has acquired the historic Holston House hotel in downtown Nashville for $60.1 million. The 191-room boutique hotel, located in the 1920s-era James Robertson Hotel building, was purchased with a $42.9 million loan from Franklin BSP Realty Trust.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $60,100,000
- Address: 118 7th Avenue North, Nashville, TN
- Market: Nashville, TN
A. Thomas Leonhard Jr, representing HRI Properties, acted as the seller in the deal. Franklin BSP Realty Trust provided the financing as the lender.
Players
Nashville Hotel Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93