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Dreamscape Cos Acquires Historic Holston House Hotel In Downtown Nashville For $60.1M
SOLD
$60,100,000
Tennessee
See Similar DealsHotel
Sold 11/14/2023
SOLD
Dreamscape Cos Acquires Historic Holston House Hotel In Downtown Nashville For $60.1M
118 7th Avenue North
See Similar DealsHotel
Sold 11/14/2023
Summary
TENNESSEE
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,522.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,904.66
Annual Debt Service$3,418,855.94
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