March 2, 2016, New York, NY — The LCP Group, L.P., a private real estate investment firm specializing in acquiring, syndicating and overseeing hotels throughout the United States, and SEDCO Capital, a leading global ESG asset manager offering a full range of sophisticated services in real estate, private equity, public equity, agriculture, timber, and commodities, announced today the acquisition of the Hampton Inn & Suites Downtown Nashville.
The six-story 154 guest room and suite property located in the trendy SoBro (South of Broadway) area of downtown Nashville features over 2,224 square feet of event space and spacious Executive boardrooms fully equipped with a wide range of business amenities along with a business and fitness center.
“The Hampton is in a premier location in downtown Nashville,” said E. Robert Roskind, Chairman, The LCP Group. “We are planning to upgrade and renovate the property, as well as add an additional 50 rooms. We believe there is significant upside in the Nashville market given the diversity of economic drivers boosting the local economy, including healthcare, the newly renovated convention center, and of course, the music industry.
Hasan Al Jabri, Chief Executive Officer of SEDCO Capital said, "This hotel marks yet another milestone in our long history of transactions in US real estate which dates back to 1976. The acquisition in Tennessee underscores our powerful partnership with The LCP Group, where we aim to not only continue our legacy but also bring excellent investment opportunities to our clients.”
The property is located in the heart of downtown and close to all the history, culture, and nightlife that give Nashville its title as “Music City USA”. The Country Music Hall of Fame, Grande Ole Opry, Bridgestone Arena, Ryman Auditorium, Nashville Schermerhorn Symphony Center and Nissan Stadium home of the Tennessee Titans are all within walking distance, along with the many bars and restaurants and Nashville’s famous music venues on South Broadway. The Hampton is only eight miles from the Nashville International Airport, two miles from Vanderbilt University and one block from the Music City Center, the 1.2 million square foot convention center.
The property will be managed by Crescent Hotels & Resorts.
