The land on which rises MetroCenter’s Millennium Maxwell Residence Hotel has sold for $6.5 million, with a Texas real estate firm seemingly obtaining built its very first Nashville acquisition as the new operator.
The 287-place 10-story resort building presents an tackle of 2025 Rosa L. Parks Blvd. and opened in 1979. As this sort of, it ranks amid the older hotel buildings situated possibly in or around downtown.
The new proprietor of the nine acres of North Nashville land is Dallas-dependent Prescott Team, a boutique business launched in 1999 and with genuine estate holdings seemingly confined to (until finally now) Texas.
The vendor was Washington, D.C.-based Pension Advantage Guaranty Corp., which paid $2 million for the residence (seemingly the land only) in 2010, Metro documents display.
Prescott Team officials could not be achieved for comment. Nonetheless, and in accordance to a number of sources, the sale of the home is topic to a very long-expression floor lease involving the lodge.
Metro appraised the full house (the land and the resort construction) at about $27.28 million in 2021. It appraised the nine acres of land at approximately $5 million.
The Millennium Maxwell House Lodge business is operated by London-centered Millennium & Copthorne Motels, the evolution of which dates to 1972. The Publish could not establish what entity owns the making by itself.
Downtown Nashville’s initial Maxwell Residence Resort, designed in 1859, was popular for the Maxwell House coffee it served. Then-President Teddy Roosevelt could have coined the phrase “great to the very last drop” following savoring a cup while keeping at the hotel (although multiple resources dispute that tale). The constructing, which sat on the northwest corner of the intersection of Fourth Avenue North and Church Road, was razed in 1961. The modernist ServiceSource tower now rises from that spot.