Midtown’s Hayes Street Hotel has sold for $19 million.
The seven-story hotel building offers an address of 1909 Hayes St. and 105 rooms. The hotel is billed as a boutique product.
Hayes Street Hotel Google Earth
According to a Davidson County Register of Deeds document, the new owner is an LLC affiliated with Paresh Patel of Mt. Juliet. Patel, who has landed a $17.5 million loan from Wilson Bank & Trust, seemingly is president of 24-7 Hotel Management.
The seller MHF West End V LLC, an entity affiliated with Warwick, Rhode Island-based Magna Hospitality Group. In 2016, that entity paid $16.55 million for what was then called GuestHouse Inn & Suites and renamed it (read here ).
The transaction is the equivalent of $180,952 per hotel room. In comparison, some previous hotel sa