Dreamscape Cos. bought the downtown Holston House hotel for $60.1 million. The Nashville Business Journal reports the sale was accompanied by a $42.9 million loan from New York City-based Franklin BSP Realty Trust. HRI Properties bought the historic building located at 118 Seventh Ave. N., in 2016, for $18.2 million.
With 191 rooms, the purchase price is equivalent to $314,904 per unit. The hotel is part of The Unbound Collection by Hyatt.
The hotel is in the 1920s-era James Robertson Hotel building, listed on the National Register of Historic Places since 1984. The hotel houses Southern restaurant Tenn and a rooftop pool and bar.
Dreamscape Cos. now owns three hotels in downtown Nashville, making them the largest hotel owner in the area, with more than 900 rooms.
