Tara Investments sold the Hampton Inn & Suites Nashville-Airport to Image Hotels. Other terms and conditions were not disclosed. The transaction was facilitated by Mayank Patel, senior vice president at Hunter Hotel Advisors.
“We continue to trust Mayank and Hunter with our portfolio, and they were instrumental in this transaction,” Amit Patel, managing partner of Tara Investments, said in a statement. “This disposition supports our strategy of harvesting capital and reinvesting in high-barrier-to-entry developments with long-term growth potential. The strong returns from this investment will help us advance future projects in our pipeline.”
Located along Interstate 40 and adjacent to Nashville International Airport, one of the fastest-growing airports in the U.S., the property benefits from its proximity to one of the nation’s top emerging markets, according to Cushman & Wakefield. Nashville, often dubbed “Music City,” welcomed 16.8 million visitors in 2023, generating $10.56 billion in direct local spending. The city is also a growing hub for corporate demand, with over 500 healthcare companies and major employers such as Bridgestone headquartered nearby. The hotel is ideally positioned near key attractions like River North, a new mixed-use development, and Nashville Yards, a $1 billion, 6 million-square-foot mega-project featuring office space, a convention center and an entertainment venue.
“We are pleased to announce another successful transaction for a long-standing client,” said Mayank Patel. “The sale of the Hampton Inn & Suites Nashville allows Tara Investments to focus on new developments in both Nashville and Charleston, South Carolina.”