Noble Investment Group Acquires Holiday Inn Express Downtown Nashville For $81.8M

Nashville's Holiday Inn Express located at 920 Broadway has been sold in a transaction valued at approximately $81,760,000. The buyer of the hotel property is an LLC affiliated with Atlanta-based Noble Investment Group, represented by Mit Shah. The seller, Mark Okada, is associated with Highland Capital Management. The asset, consisting of 287 keys, was financed by a loan of $79.8 million from Western Alliance Bank.

Summary of transaction details:

• Property Type: Hotel
• Sale Price: $81,760,000
• Loan Provider: Western Alliance Bank
• Address: 920 Broadway, Nashville, TN
• Market: Nashville, TN
• Buyer: Mit Shah - Noble Investment Group
• Seller: Mark Okada - Highland Capital Management
• Keys: 287
• Price Per Key: $284,878

The deal, which was completed on 12/14/2023, marks the acquisition of the Holiday Inn Express property by Noble Investment Group. The LLC obtained a loan of $79.8 million from Western Alliance Bank to facilitate the purchase of the hotel.