Twelfth Avenue Realty Holdings has completed the sale of W Nashville to Xenia Hotels & Resorts for $328.7 million, or $950,000 per key.
Designed by The Rockwell Group and built by Yates Construction, the property opened in October 2021 in Nashville's Gulch neighborhood. The concept, programming and design direction of W Nashville was led by David Tessier and Anna Gomez of Hospitality Gaming Advisors along with local partners Mark Bloom and Larry Papel of Corner Partnership and Chicago-based Magellan Development. The group ran an off-market process led by Hospitality Gaming Advisors.
“The execution of this sale speaks to the quality, unique design and rich programming behind W Nashville, paired with the unwavering strength of the Nashville hospitality market," said David Tessier, president of Hospitality Gaming Advisors, and member of Twelfth Avenue Realty ownership group, in a statement. "We are excited to watch W Nashville continue to thrive under Xenia’s ownership and are grateful to our neighbors and partners for the opportunity to add this special property to Nashville’s dynamic hospitality landscape. This type of ‘trophy property’ in such a key market could not be easily replicated in the near term. This combined with the current unprecedented market conditions resulted in a very quick transaction."