Nashville Magnuson hotel sells for $4.8M, to rebrand as Quality Inn

A Nashville hotelier has paid $4.8 million for the 172-room Magnuson Hotel Downtown North Nashville, with plans to rebrand it as the Quality Inn Downtown Nashville, reports The Tennessean.

The buyer, Sam Zaveri, plans to spend an additional $2 million on renovations, including upgrades to the rooms, lobby, ballrooms and banquet rooms.

"Trinity Lane is a down market right now, but its got lot of room to grow as Nashville's downtown grows," he said about the general location of the hotel.

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With the acquisition, Zaveri now owns four Nashville area hotels.

The others are a Comfort Suites off Stewarts Ferry Pike in Nashville, a Holiday Inn Express in White House, Tenn., and another Magnuson Hotel in Goodlettsville. He also owns a Best Western hotel in Baton Rouge, La., plus a pair of gas stations in Nashville and Texas.

 

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