Moody National REIT II, Inc., a real estate investment trust based in Maryland, has entered into a definitive agreement to sell the Nashville Embassy Suites located at 1811 Broadway, Nashville, TN, for $57.5 million. The transaction was finalized through a Purchase and Sale Agreement with Reade Hotel Capital LLC, a New York limited liability company with no affiliation to Moody National.
The agreement, which took effect on December 2, 2024, outlines the terms for the sale of all rights and interests in the hotel property by Moody National to the purchaser. The deal is subject to customary adjustments and credits as detailed in the Sale Agreement.
The closing of the sale is anticipated to occur on or before February 13, 2025, contingent upon the fulfillment of all closing conditions specified in the agreement. However, the company noted that there is no assurance that the sale will be completed as described or at all.
This strategic transaction is part of the company's broader portfolio management efforts. The Nashville Embassy Suites is a notable property within the company's holdings, and the sale price reflects the value of the asset in the current real estate market.
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