Ocean Properties paid $50 million for the Bobby Nashville Hotel. The Nashville Business Journal reports Castlerock Asset Management developed the downtown hotel, located at 230 Fourth Ave. N., which opened in 2018. A few months ago, Castlerock Asset Management sold its affiliated equity ownership in a deal that values the property at $72 million. Music City Venture GP, which was reportedly a part-owner of the boutique hotel, was the buyer in that transaction and became the sole owner of the hotel at the time. 

The 144-key Bobby Nashville says it’s a vibrant lifestyle hotel, complete with a rooftop bar, on-site restaurant and entertainment you’ll only find in Nashville.

Ocean Properties is one of the country’s largest privately held hotel management and development firms. The company was founded in 1969 and lists 80 hotels in its portfolio.

Ocean Properties’ website lists nearly 80 hotels in its portfolio, located mainly in Florida and in the Northeast region of the U.S. on waterfront properties.