LCP Sells Its Hampton Inn & Suites Hotel in Nashville, Tennessee

NASHVILLE, Tenn., August 7, 2019 — The partnership between The LCP Group and SEDCO Capital has sold the Hampton Inn & Suites Downtown Nashville, a 207-key hotel in the Music City’s urban core, for $101.5 million, according to public records. The buyer, a joint venture between Nakash Holdings, Douglas Development and Triangle Capital Group, secured $89.5 million in acquisition financing through one loan from Midland National Life Insurance Company and two from Wells Fargo.

The sale is the latest in a string of major hospitality acquisitions this year in the Nashville metropolitan area as the city’s tourism industry continues to thrive. In 2018, the Nashville Convention & Visitors Corp. estimated a record-breaking 15.2 million tourists came to the area.

The Hampton Inn, located at 310 Fourth Ave. S., is one block from both the Music City Center and the Country Music Hall of Fame and Museum. Many hotels are in the immediate area with some recently trading for record-high prices—the nearby Hilton Garden Inn sold for a staggering $125 million in January.

The Hampton last changed hands in early 2016 for $58.2 million. Shortly after the sale, LCP and SEDCO Capital embarked on a renovation and expansion project which added 53 guestrooms to the asset. Hotel amenities include a business center, 2,500 square feet of meeting space and a fitness center.

About SEDCO

SEDCO Capital is a global asset management firm that offers attractive investment opportunities across global markets through carefully engineered public and private funds and special instruments. Established in 1976, SEDCO Capital has crafted a three-decade long track record of robust performance combined with prudent investment strategies. We have pioneered a world-class Prudent Ethical Approach (PEI) that combines the best of Shariah-compliance with ethical investing to create exceptional performance while minimizing downside risks. Our clients benefit from world-class investment instruments, including those offered through our international Luxembourg platform. To find out more visit https://www.sedcocapital.com/

About LCP

The LCP Group, L.P. (LCP) has been a pioneer in both public and private real estate investments for more than 45 years. Today, LCP oversees a real estate portfolio valued in excess of $850 million that includes investments in existing and ground-up development projects across the real estate sector and throughout the United States. LCP specializes in sourcing investment opportunities on behalf of its clients that meet their unique investment goals and criteria. Our goal is to form integral partnerships with our investors that help them achieve high-yield returns on their real estate investment allocations. To find out more visit https://www.lcpgroup.com