Dreamscape Cos. has acquired the downtown Holston House hotel for a whopping $60.1 million, according to reports from the Nashville Business Journal. The purchase was made possible with a loan of $42.9 million from Franklin BSP Realty Trust, based in New York City.
The historic building, located at 118 Seventh Ave N., was previously owned by HRI Properties and sold for $18.2 million in 2016.
Boasting 191 rooms, this acquisition translates to an impressive price of $314,904 per unit and adds another property to The Unbound Collection by Hyatt brand.
Originally built as the James Robertson Hotel in the 1920s and listed on the National Register of Historic Places since 1984, this hotel is home to popular Southern restaurant Tenn as well as a rooftop pool and bar.
With this latest addition under their belt, Dreamscape Cos now holds ownership over three hotels in downtown Nashville – making them one of area’s largest hotel owners with over 900 rooms available for guests.
This significant sale marks yet another milestone for Nashville’s thriving hospitality industry without mentioning any specific brands or organizations involved.
