NASHVILLE, TN — Capstone Companies has brokered the $12.05M off-market sale of Red Lion Inn & Suites: a 120-unit motel conversion project located at 2425 Atrium Way in Nashville, TN.
Capstone Senior Advisor, Austin Heithcock, Capstone Partner, Adam Klenk, and Investment Sales Advisors, Jordan Arand and Josh White facilitated the sale between Focus Hospitality III, the seller, and Creative Development Partners, the buyer, consisting of owners, Brad Bars and Ryan Hooper, and SVP of Commercial Acquisitions, Patrick Rainey and Chandler Burgess.
“We are excited to revitalize the motel into a more impactful long-term housing solution for Nashville. We have an issue with housing prices, forcing many people to move outside the city. We hope this project gives them the opportunity to live in Nashville affordably,” said Creative Development Partners.
The property, constructed in 1985, is conveniently located along TN-155 Briley Parkway and is within 4 miles of the Nashville International Airport, making it a prime location for future residents with its ease of access and proximity to an abundance of jobs, retail, and restaurants. The converted property will consist of all studio units.
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