Franklin-based Chartwell Hospitality and two private investors sold a pair of Nashville hotels and the land they sit on to out-of-town investors looking to participate in Nashville’s hot lodging market.
An affiliate of Capstone Development paid nearly $24 million for the 169-room Hampton Inn Nashville/Vanderbilt hotel building at 1919 West End Ave., while an affiliate of Honolulu-based The Shidler Group paid $9.33 million for the land the hotel sits on.
Washington, D.C.-based real estate development company Capstone also bought the 157-room Hampton Inn & Suites Elliston Place hotel at 2330 Elliston Place for $22 million. The affiliate of commercial real estate investment firm Shidler paid $8.67 million for the land that hotel sits on.
Simultaneous with closing of both deals, Capstone is leasing the land from Shidler. Chartwell Hospitality also continues to manage both hotels.