NASHVILLE, TN – Privately-held real estate development and investment firm, Songy Highroads (SHR) has sold the Hyatt House Nashville at Vanderbilt boutique hotel to OTO Development, which is part of the Johnson Group.
The Hyatt House Nashville at Vanderbilt serves as SHR's first full-cycle development and ownership in joint-venture partnership with Hyatt Hotels Corp. The partnership has since expanded to include two additional hotel properties in the Southeast.
The 15-story hotel has 201 guest rooms, including 125 suites, and it offers amenities such as a rooftop pool, H Bar, fitness center and a pet-friendly policy. The asset is located blocks from Vanderbilt University, Centennial Park and Music Row.
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During the pandemic, SHR has stabilized the asset and returned it to growth.
When planning the development, SHR and Hyatt jointly selected the hotel's site and developed the property over 18 months. The partners operated the property for three years.
"We are happy to reach this milestone of completing a full cycle of development, ownership and successful exit of Hyatt House Nashville at Vanderbilt as it demonstrates the strength of our joint-venture with Hyatt," says David B. Songy, CEO and co-founder of SHR. "We look forward to continuing to build a deeper relationship with Hyatt as we pursue mutually successful developments of quality urban infill assets in strong markets in the Southeast and beyond."
The partners have also developed Hyatt Place Atlanta Centennial Park and Hyatt Centric Buckhead Atlanta, which recently opened in Atlanta's premier luxury shopping and dining district.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
