Pebblebrook Hotel Trust, a publicly traded real estate investment trust (REIT), has agreed to sell Union Station Hotel Nashville, Autograph Collection in Nashville for $56.0 million to a third party.
The company has acquired the hotel for $52.3 million in 2014.
The 125-room iconic historic landmark hotel is located on Broadway, in the center of downtown Nashville, Tennessee. The hotel first opened in 1900 as the L&N Railroad Station. The property was converted to a hotel in 1986, underwent an $11.0 million renovation in 2007, and benefitted from an additional $1.9 million renovation to convert the property to an Autograph Collection by Marriott hotel in 2012.
Originally built in the year 1900, Union Station served the city of Nashville as a major local train station and epicenter for travel. The imposing Gothic design—complete with turrets and towers—made Union Station an architectural marvel in its day, delighting travelers with its beautiful detailing, including ornate wood carvings, sparkling stained glass, beautiful Italian marble, and soaring ceilings.
The sale of Union Station Hotel Nashville, Autograph Collection is subject to normal closing conditions, and the company offers no assurances that this sale will be completed on these terms, or at all, said the company in a statement.
The company is targeting to complete the sale in the third quarter of 2020.
