The company that recently purchased a prime piece of SoBro property has completed two hotel projects in Nashville during the past few years — begging the question: Is another hotel in the offing?
Atlanta-based North Point Hospitality Group created NP5TH LLC to buy for $5.9 million about .9 acres from Fifth Avenue Land Investments. Bert Mathews, president of Nashville-based commercial real estate company The Mathews Co., served as managing partner for the latter.
Mathews declined to speculate whether North Point will build a hotel on the site, which fronts Korean Veterans Boulevard between Fourth and Fifth avenues south.
Of note, the company developed in Midtown both the Home 2 Suites by Hilton that fronts Division Street and the Hilton Garden Inn that fronts Broadway. The two hotels share a structured parking garage.
North Point President and Chief Executive Officer Jay Patel could not be reached for comment regarding his company’s plans for the SoBro site.
Check out North Point’s properties here.