**Embassy Suites Nashville at Vanderbilt Sells at a Loss**
Moody National REIT II has sold the Embassy Suites Nashville at Vanderbilt for $57.5 million, marking a decline from the $66.3 million it originally paid for the property in June 2015. The transaction reflects a loss of more than 13% over the past decade.
The new owner, Reade Hotel Capital, financed the purchase with a $45.36 million acquisition loan secured from Mesa West Capital. The deal values each of the 208 rooms in the hotel at approximately $276,442.
Reade Hotel Capital, a hotel investment firm that focuses on acquiring high-quality hospitality assets across the United States, currently owns properties in New York and New Orleans.
The Embassy Suites property is located near Vanderbilt University in Nashville, a city that has seen significant real estate investment in recent years. Despite the overall boom in the local market, this transaction highlights that not all hotel investments in the area have experienced appreciation in value.
