HOUSTON—Moody National REIT I, Inc. is under contract to purchase the Embassy Suites Nashville for $66.3 million, excluding acquisition costs.
The 208-room Embassy Suites opened in 2001 and is situated on 1.2 acres. The select-service, all-suite hotel has an indoor swimming pool, fitness center, business center and flexible meeting space.
Three blocks from Vanderbilt University and the city’s medical center, the hotel is less than two miles from downtown Nashville.
“Nashville continues to maintain its status as one of the most robust major metropolitan markets in the country,” stated Brett Moody, CEO/chairman of Moody National Companies. “The Embassy Suites’ proximity to the Vanderbilt campus and the city’s expanding medical center and convention complex makes the site virtually irreplaceable compared to other properties in the greater Nashville area.”
The hotel is positioned to capitalize on demand from both business and leisure travelers. “The Embassy Suites Nashville continues to prove Moody’s commitment to seeking to add Class A assets—Marriott, Hilton and Hyatt products—in major metropolitan markets to our portfolio,” Moody said.