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RLJ Lodging Trust Acquires Boutique Hotel in Nashville for $59M
Bethesda, MD-based RLJ Lodging Trust has acquired the fee simple interest in the 124-room, 21c Museum Hotel Nashville in Nashville, TN for $59 million ($476,000) per key. The property was converted from the 1910-constructed Gray & Dudley Building to a boutique lifestyle hotel in 2017.
“This acquisition underscores our disciplined and focused approach to executing off-market transactions,” said Leslie D. Hale, president and CEO of RLJ Lodging Trust. “Nashville is a burgeoning destination that is poised to outperform throughout this cycle and this property is well-positioned to benefit from these growth trends, given that it is located within the heart of demand, in downtown Nashville’s Arts District.”
The eight-story structure offers over 8,000 square feet of meeting and exhibition space, the Gray & Dudley restaurant and lounge, outdoor event space and a fitness center.
RLJ Lodging Trust owns 96 hotels located across 23 states.
- ◦Sale/Acquisition
