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News release

​NASHVILLE, TN

Expansion Planned for Downtown Nashville Hotel

JLL secures $58.6 million in acquisition financing for Hampton Inn & Suites Nashville Downtown


NASHVILLE, March 31, 2016 – Capitalizing on Nashville’s double-digit revenue per available room (RevPAR) growth in 2015, JLL and the LCP Group, L.P. today announced $58.6 million in acquisition financing for Hampton Inn & Suites Nashville Downtown on behalf of LCP Nashville Hotel I LLC. Bank of the Ozarks provided the loan, which will also be used for renovations to the property.

Executive Managing Director Mike Melody, Executive Vice President Bill Grice and Senior Vice President Jonathan Paine led the JLL team on the transaction.

“Nashville’s lodging market has grown tremendously over the past few years and is poised for continued growth,” said Paine. “The hotel is within walking distance to many of Nashville’s prime attractions, which appeals to the 12 million tourists who visit the city annually.”

Added Grice, “Select service hotels, especially those located in top secondary markets, deliver attractive yields as upward RevPAR momentum continues. Thus, these assets will remain highly sought after by investors and lenders alike.”

The 154-key select service hotel is located in the heart of downtown Nashville, directly across from the new 1.2 million-square-foot Music City Center. The hotel features four separate meeting spaces, an indoor pool and a fitness center. LCP Nashville Hotel I LLC plans to add guestrooms to the property and update existing guestrooms and common areas.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling more than $68 billion worldwide. Between negotiating the world’s most extraordinary, enticing, and profitable property deals, the group’s 350-strong global team also closed more than 4,400 advisory, valuation and asset management assignments. Investors worldwide turn to JLL to shape their strategies, tailor their portfolios and maximize the value of their assets. We are recognized as the global leader in real estate services across hospitality properties of all shapes and sizes. Our expert advice is backed by industry-leading research. We apply our broad spectrum of hotel valuation, brokerage, asset management and consultancy services through every phase of the hotel lifecycle. We have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world. Whether you are looking for a hotel or you're ready to sell, we'll use our capital markets expertise, hospitality industry knowledge and global relationships to put the right parties together and execute a bespoke deal that exceeds your objectives.

To find out more, talk to JLL: http://www.jll.com/services/industries/hotels-and-hospitality
 
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.