W Nashville Sells for $328.7 Million in Record-Breaking Gulch Deal

Twelfth Avenue Realty Holdings has completed the sale of W Nashville to Xenia Hotels & Resorts for $328.7 million, representing $950,000 per key—a premium price point that underscores the property's status as a trophy asset in Nashville's booming hospitality market. The 346-room hotel, which opened in October 2021 in the city's trendy Gulch neighborhood, was designed by The Rockwell Group and constructed by Yates Construction. The concept and design direction was spearheaded by David Tessier and Anna Gomez of Hospitality Gaming Advisors, in partnership with local developers Mark Bloom and Larry Papel of Corner Partnership and Chicago-based Magellan Development. The transaction, conducted through an off-market process, reflects both the distinctive quality of the property and the sustained strength of Nashville's hospitality sector, with Tessier noting that such a premier asset in this key market "could not be easily replicated in the near term."