Propst, Chartwell Complete 234-Room Conrad Nashville Hotel, Sell to Northwood Investors

by John Nelson

NASHVILLE, TENN. — Propst Development and Chartwell Hospitality have completed construction of the Conrad Nashville, Hilton International’s first luxury hotel in the city. Located at 1620 West End Ave. in the Midtown neighborhood, the 234-room property is slated to open to the public at the end of June.

In addition to completing the hotel, the co-developers sold the asset to Northwood Investors, a Denver-based private equity investor with $8 billion in assets under management. The price was not disclosed.

The Conrad Nashville features more than 11,000 square feet of meeting space, an outdoor terrace pool on the third floor, the Blue Aster restaurant and Thistle and Rye whiskey bar. Other amenities include a fitness center, business center, pet-friendly rooms, a concierge and complimentary Wi-Fi. According to the property website, prices for a suite with one king bed range from $285 per night during the week to $529 on the weekends. Prices for a suite with two queen beds range from $285 during the week to $636 on the weekends.

The Conrad Nashville will employ more than 200 people once it’s fully operational, according to Bill Propst, chairman of Propst Development’s parent company, Propst Cos.

The hotel anchors the $540 million Broadwest mixed-use project that occupies a full city block in Midtown Nashville at the intersection of West End Avenue and Broadway. Propst Development is the master developer of Broadwest, which spans 1.3 million square feet and includes 196 high-end condominiums and 630,000 square feet of office space, as well as the hotel.

“Nashville is quickly becoming one of the top destinations in the country for leisure and corporate travel, along with meetings and events,” says Javier Rosenberg, president of Northwood Hospitality, a division of Northwood Investors. “The Conrad Nashville is set to inspire and redefine the luxury hotel landscape, offering some of the best accommodations and experiences the market has to offer.”

Propst Cos. is based in Birmingham, Ala., and features four divisions: Propst Properties, a commercial real estate services provider; Propst Development, which has delivered more than 10 million square feet of retail, apartments and offices; and private equity investment firms Propst Equity and Propst Capital.

Chartwell Hospitality is a lodging investment, development and management firm based in Nashville. Founded in 2003, the company’s portfolio includes 22 hotels across 11 states.

— John Nelson

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