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110 20th Avenue North

Updated Dec 4, 2024

Vision Hospitality Group Acquires Land In Nashville For $5M
SOLDLand

Vision Hospitality Group Acquires Land In Nashville For $5M

110 20th Avenue North

$5,000,000

Building Size

Asset Type

Land

Closing

Oct 23, 2023

About this deal

AI

The Vision Hospitality Group, a hotel development company based in Chattanooga, has acquired a piece of land in Midtown, Nashville for the construction of a 12-story Hilton hotel. The site, located at 110 20th Avenue North, was purchased from Roshan Patel for a total of $5 million. This prime land will serve as the foundation for the new Hilton hotel, bringing a renowned hospitality brand to the heart of Nashville.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $5,000,000
  • Address: 110 20th Avenue North, Nashville, TN
  • Market: Nashville, TN

Mitch Patel, the CEO of Vision Hospitality Group, played a pivotal role in this transaction. His expertise and vision for the company led to the successful acquisition of this valuable piece of land. By investing in the development of a Hilton hotel, Vision Hospitality Group aims to contribute to the thriving hospitality industry in Nashville and provide guests with a premium hotel experience.

Players

Mitch Patel

Vision Hospitality Group

Buyer

$24.4M

vol

2 deals

Buyer

East Elmhurst Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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