Tuesday, August 5, 2014

HFF closes sale of Franklin Marriott Cool Springs in Nashville, TN suburb

Franklin Marriott Cool Springs Hotel, Franklin, TN
NEW YORK, NY – HFF announced today that it has closed the sale of the Franklin Marriott Cool Springs, a 300-room full service hotel, located in Franklin, Tennessee. 

Located in the heart of the Cool Springs office district at 700 Cool Springs Boulevard, the 300-room, full-service hotel was originally opened in 1999 under the Marriott brand and extensively renovated in 2007 and 2012. 

The hotel offers three dining outlets, a fitness center, business center, indoor pool and three concierge floors.  The property is connected to the Cool Springs Conference Center, which has 30,000 square feet of meeting space.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s Hotel Group Daniel C. Peek, director KC Patel and associate director Cyrus Vazifdar.

Daniel C. Peek
“Nashville’s lodging market continues to thrive, and we expect this trend to continue with the opening of the Music City Center and further strengthening of Nashville’s economy,” Patel said.

 “Franklin, Tennessee, is one of the country’s strongest and most dynamic corporate submarkets and continues to grow with several major demand-inducing developments underway.  This has attracted interest from many of our industries most well-respected investors, including this transaction.”

“The interest in higher quality, full-service lodging product has been tremendous recently,” Peek added.  “We were fortunate to attract interest from numerous institutional investment firms who viewed the Marriott Cool Springs as an opportunity to enter a historically strong lodging market via Franklin’s top hotel asset.”

HFF is a leader in the sale and financing of all types of hotel/lodging assets including branded, full-service, institutional-quality hotel properties.  The firm recently arranged sale transactions for the Raleigh Hotel on South Beach in Miami; the Shores Resort and Spa in Daytona Beach and the DoubleTree Dallas – Campbell Centre. 

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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