Holiday inn

Dreamscape Companies and Meritage Group Acquire New Build Nashville Holiday Inn & Suites Downtown

The newly constructed hotel marks the second hospitality-focused transaction for Dreamscape in Nashville this year

NASHVILLE, Tennessee., December 13, 2021 / PRNewswire / – A joint venture between subsidiaries of Dreamscape Companies and Meritage Group LP has completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel located in the heart of Downtown Nashville in bustling SoBro (south of Broadway). The purchase marks Dreamscape’s second hotel transaction in the city in 2021, after acquiring the Sheraton Grand Nashville Downtown in June. The purchase of this 230-room hotel underlines Dreamscape’s commitment to expanding its presence in the Nashville market, as well as the identification of the main growth opportunities in the main regional regions of the country.

Holiday Inn & Suites Downtown Nashville Lobby

This purchase marks Dreamscape’s second hotel transaction in the city in 2021, following the acquisition of the Sheraton Grand

Aimbridge Hospitality will oversee and manage the operations of the Nashville Holiday Inn & Suites Downtown and work hand-in-hand with hotel staff to ensure a smooth transition.

“We are very pleased to partner with Meritage on this exciting transaction,” said Eric Birnbaum, Founder and CEO of Dreamscape Companies. “Nashville has long meant great interest to us, and after entering the market earlier this year with the purchase of the Sheraton Grand Nashville Downtown, we immediately knew we wanted to expand our presence in this booming city, which continues to grow. ‘attract tourists from across the country as well as around the world. “

“We are delighted to expand our presence in Nashville given the strong fundamentals of the market, ”said Scott Broder, president of Dreamscape Hospitality. “This transaction marks the fifth acquisition of Dreamscape in the past year and fits perfectly with our thesis of acquiring assets in high growth markets at an attractive basis.”

The Nashville Holiday Inn & Suites Downtown, located at 415 4e Avenue South has been equipped with 230 guest rooms and 8,700 square feet of first-class meeting space, making it ideal for both business and leisure travelers. The property, which opened just two years ago, also includes the on-street cocktail bar and restaurant, 4th and Peabody, which is about to undergo a thoughtful renovation, as well as on-site parking. In addition to reinventing the hotel’s dining concept, Dreamscape also plans to incorporate additional retail concepts into the property’s expansive lobby.

“We are delighted to partner with Dreamscape to acquire another new hotel asset focused on recreation in a dynamic growing market. ” noted Jared halperin, Managing Director of Meritage who leads the company’s real estate strategy. “This is the continuation of Méritage’s broader commitment to invest in the city center Nashville, which started in 2017, and this is our fifth investment in Nashville strategically located urban core assets.

Just steps from the city’s always bustling and busy Broadway Street, the Nashville Holiday Inn & Suites Downtown places visitors close to Bridgestone Arena; Music City Center, the city’s convention center; and other emblematic institutions and monuments. In addition, those looking for the best Nashville has to offer will be delighted to know that the hotel is located right in front of Nashville famous barbecue restaurant, Martin’s BBQ Joint.

About Dreamscape
Dreamscape’s mission is to create long-term financial prosperity through a diverse portfolio of differentiated and forward-thinking real estate projects. Led by the founder and CEO Eric Birnbaum, Dreamscape owns and operates residential, commercial, hotel, entertainment and game properties, (re) developing experience-centric spaces that focus on maximizing the intrinsic value of each property. For more information, please visit www.dreamscapecos.com.

About Groupe Méritage SEC
Méritage is a fundamentally oriented investment company whose assets under management exceed $ 11 billion from December 31, 2020. Méritage invests in public and private private equity, credit and real estate. The company has around fifty employees in offices located Greenwich, New York City, and San Francisco.

About Aimbridge Hospitality
Aimbridge hospitality is a leading global hospitality company providing premier hotel management services across a wide range of full franchise branded services, select services, luxury hotels, resorts, convention centers and lifestyle hotels. Aimbridge’s premium portfolio represents more than 1,550 properties in 49 states and 21 countries, including the pipeline. As the world’s largest third-party operator, Aimbridge is dedicated to its mission of leveraging its scale to add value to owners and opportunities for associates better than any hotel operator. Aligned with concentrated focus, agility and expertise for each vertical or hotel product category, Aimbridge drives success in the hotel market and maximizes return on investment for owners. Aimbridge Hospitality is based in Plano, Texas, with additional headquarters at Atlanta, Calgary, Fargo, Porto Rico, Toronto, and Washington DC Evolution Hospitality, the Lifestyle division of Aimbridge, is based in San Clemente, California Aimbridge’s international division, Interstate Hotels & Resorts, has support offices across Europe in Amsterdam, Birmingham, Glasgow, and Moscow. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.

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SOURCE Dreamscape Entreprises


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