Creative Development Partners Acquires Red Lion Inn & Suites Near Nashville International Airport For $12.05M
2425 Atrium Way Nashville, Tennessee 37214, USA
$12,050,000
$200/SF
Building Size
60,000 SF
Asset Type
Hotel
Closing
Jun 28, 2023
About this deal
AI
The Red Lion Inn & Suites near Nashville International Airport has been acquired by Creative Development Partners, led by Brad Bars and Ryan Hooper, for $12.05 million. The hotel, located at 2425 Atrium Way in Nashville, TN, spans an area of 60,000 square feet with a price per square foot of $201.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $12,050,000
- Square Footage: 60,000
- Price per Square Foot: $201
- Address: 2425 Atrium Way, Nashville, TN
- Market: Nashville, TN
In this transaction, Creative Development Partners, represented by Brad Bars and Ryan Hooper, purchased the Red Lion Inn & Suites from Focus Hospitality III LLC.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93