Hodges Ward Elliott Brokers Sale of Red Roof Inn
Nashville (Goodlettsville), Tennessee
January 8, 2010 Hodges Ward Elliott's Focused Service Division is pleased to announce that they represented R-Roof V-I, LLC as exclusive advisor in the sale of the Red Roof Inn located in Nashville (Goodlettsville), Tennessee for $2,500,000. The buyer is Tennessee-based Gayatri MAA LLC. The two-story, 108-room property located north of Nashville near Interstate 65 and had Trailing-12 revenues of approximately $850,000. The property will undergo renovations and continue its franchise relationship with the Red Roof Inn brand.
“Despite the difficult lending environment, we are continuing to find and close on transactions at fair prices with qualified buyers,” said Anthony A. Falor, Managing Director of Hodges Ward Elliott's Select Service Division, who handled the transaction.
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