Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Franklin Marriott Cool Springs, a 300-room, full-service hotel located in the Nashville-area community of Franklin, Tennessee.
The HFF team marketed the hotel on behalf the seller, a private real estate fund advised by Crow Holdings Capital-Real Estate. An affiliate of Chartwell Hospitality LLC purchased the property unencumbered of existing management. The property will be managed by Chartwell Hospitality LLC. Additionally, HFF arranged the sale of this property to the seller in 2014.
Located in the heart of the Cool Springs office district at 700 Cool Springs Boulevard, Franklin Marriott Cool Springs is adjacent to Interstate 65 and less than 18 miles south of downtown Nashville. The hotel was originally opened in 1999 under the Marriott brand and extensively renovated in recent years. The 11-story hotel offers three dining outlets, including the Stave Regional Kitchen and Lounge; a fitness center; business center; indoor pool, outdoor sun deck; and three concierge floors. The property is connected to the Cool Springs Conference Center, which has 30,000 square feet of meeting space that includes 8,300 square feet of pre-function space.
The HFF investment advisory team representing the seller included senior director KC Patel, senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director John Bourret and senior managing director Jason Nettles.
“Cool Springs is one of the more dynamic suburban markets in the United States, drawing on the extraordinary growth of the burgeoning Nashville MSA,” Peek said. “We expect the market to realize significant, continued expansion going forward.”
About Crow Holdings Capital–Real Estate
Crow Holdings Capital-Real Estate (CHC) is a real estate private equity investment manager with a 20-year track record. Led by a highly experienced team, CHC manages over $10 billion of AUM through its series of flagship value-add funds invested across property types in the U.S., as well as its specialized fund strategies for small retail, self-storage and multifamily. CHC is part of Crow Holdings, a nationally focused real estate investor, developer and owner. Headquartered in Dallas, Texas, the firm has 70 years of continuous operating history and longstanding industry relationships built on trust, integrity and partnership.
About Chartwell Hospitality LLC
Chartwell Hospitality LLC is an award-winning, fully integrated hotel operations and development company specializing in the acquisition, development and management of high-quality, branded, limited-service and full-service hotels. With substantial transaction and real estate expertise, Chartwell has a proven track record for maximizing cash flow and increasing ROI in high growth markets with multiple generators. Chartwell approaches real estate investment from an owner’s perspective, investing capital alongside select private and institutional investors. To date, Chartwell has executed 61 hotel investments, delivering occupancy and market rates that consistently surpass its competition. For further information, visit http://www.chartwellhospitality.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
