(Nashville Business Journal) – Another boutique hotel is planned for downtown Nashville, following the sale of an historic apartment building.
The Tennessean reports that New Orleans-based HRI Properties bought the James Robertson Apartments for $18.2 million. The seller was Nashville-based Covenant Capital Group, which paid $10.2 million for the 12-story building, located at 118 Seventh Ave. N., just over a year ago.
The James Robertson apartment building originally opened in 1929.
Davidson County Property Assessor
According to The Tennessean, HRI plans to invest about $65 million converting the building into a 190-room boutique hotel. The Tennessean reports that HRI considers itself a national leader in the adaptive reuse of historic buildings.