Wyndham Buys Nashville Timeshares for $22M
- Nov 05, 2019
Safe Harbor Development has sold its interest in 52 timeshare units at the Margaritaville Hotel in Nashville, Tenn., for $22.2 million to Wyndham Destinations, according to Davidson County records. The units are one component of the $82 million, 217-key development which opened its doors at the end of October.
Located at 425 Fifth Ave. S. in the SoBro district, the Margaritaville is one block from the Music City Center and the Country Music Hall of Fame. In addition to tourists, the property caters to business travelers: More than 10.3 million square feet of office space is within a mile of the hotel, according to Yardi Matrix.
The 12-story building has a mix of standard guestrooms ranging from 370 to 450 square feet in addition to a selection of larger suites. Amenities include 10,711 square feet of meeting and event space, a fitness center, a rooftop swimming pool and valet parking.
Nashville’s hospitality market is thriving, with several major investment transactions closing in the past 12 months. In August, the 207-key Hampton Inn & Suites two blocks from the Margaritaville traded for nearly $102 million, one of the largest hotel sales in the metro this year.