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Starwood Capital Group
Starwood Capital Group, Crescent Actual Property LLC and Excessive Avenue Actual Property Companions right this moment introduced that managed associates have accomplished the sale of the 1 Hotel and Embassy Suites in Nashville, Tennessee, to Host Motels and Resorts, a lodging actual property funding belief and proprietor of luxurious and upper-upscale motels. Phrases of the transaction weren’t disclosed.
“Our profitable improvement of 1 Hotel and Embassy Suites, along with our companions at Crescent, additional demonstrates the energy of our hospitality platform and our dedication to bringing eco-friendly, luxurious visitor experiences to market,” stated Barry Sternlicht, Chairman and CEO of Starwood Capital and founding father of 1 Motels, the mission-driven luxurious life-style resort model. “This award-winning mission has shortly risen to be one of many high performing resort developments in Nashville and I’m assured the Host Motels and Resorts crew is a perfect steward for this property going ahead.”
“We’re proud to have joined Starwood Capital in growing this mission right into a premier vacation spot on the forefront of luxurious and sustainability in Nashville’s thriving hospitality financial system,” stated Jason Anderson, Co-CEO at Crescent. “Along with our companions, we’re delighted that our extremely profitable three way partnership has executed our marketing strategy and created important returns for our buyers.”
Opened in 2022, the dual-branded Nashville 1 Hotel and Embassy Suites consists of an 18-story 1 Hotel – Starwood Capital’s award-winning, eco-conscious, luxurious life-style model resort – and a 30-story Embassy Suites by Hilton resort tower. The event totals 721 rooms with greater than 26,000 sq. toes of assembly area, together with fascinating visitor facilities such because the 1 Hotel’s holistic spa, rooftop bar and occasion deck space and Embassy Suites by Hilton’s rooftop swimming pool, bar and occasion area. Situated on the nook of Demonbreun Avenue and 7th Avenue South, instantly throughout from Nashville’s Music Metropolis Middle, the location is within the coronary heart of Nashville’s downtown eating places and leisure venues and one block from Bridgestone Enviornment, house of the Nashville Predators, and host to quite a few concert events and occasions.
In recognition of the property’s revolutionary and eco-friendly design, world-class visitor expertise and putting structure, the event was awarded 2022 Improvement of the 12 months on the Americas Lodging Funding Summit (ALIS).