Among
the noteworthy deals of the past week was the Aloft Nashville West End selling
to Somera Capital Management.
NASHVILLE,
Tennessee — The Aloft Nashville West End hotel was sold at a loss for $25
million to Santa Barbara, California-based Somera Capital Management, according
to the Nashville Business Journal. The transaction is equivalent to approximately $179,856 per room and represents a loss of more than 28% for the seller.
According to
the story, New York City-based AIG Global Real Estate paid $34.75 million for
the 11-story hotel in 2015.
Somera has
completed more than 120 transactions on behalf of partners and investors, with
a current AUM of $850 million.
To download
our list of deals from the past week in Excel format, click here.