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.
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