Nelson Knight Of Apple Hospitality REIT Acquires Hotel In Nashville For $98.2M

The property involved in this transaction is a 260-room hotel located at 311 3rd Avenue South, Nashville, TN. The transaction was completed for a price of $98,200,000, resulting in a per-key price of $377,692. The hotel is branded as Motto by Hilton Nashville Downtown and is strategically positioned to benefit from Nashville’s strong demand stemming from entertainment, business, and tourism sectors, evidenced by its RevPAR significantly outperforming industry averages.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $98,200,000
• Buyer: Nelson Knight - Apple Hospitality REIT
• Keys: 260
• PPK: $377,692

Nelson Knight represented Apple Hospitality REIT in this acquisition of the hotel property. The buyer's strategic investment reflects confidence in the ongoing development potential and market dynamics of the Nashville area, aligning with their portfolio expansion goals.