Choice Hotels International sold the Cambria Hotel Nashville Downtown to an undisclosed buyer for $109.5 million, according to a news release.
The 255-room property in Nashville's SoBro neighborhood will transition to management by Pyramid Global Hospitality. This marks the third Cambria property in Pyramid's portfolio.
"The sale of the Cambria Hotel Downtown Nashville and execution of a long-term franchise agreement aligns with our long-term asset-light strategy and continues our history of recycling capital utilized to grow our brands," Scott Oaksmith, senior vice president of real estate and finance at Choice Hotels, said in the news release. "We are pleased that this hotel will continue to be a flagship property for the Cambria brand for years to come."
Cambria now has more than 60 operating properties across the U.S. with 70 more in the pipeline.
The hotel opened in 2018 and was developed through a joint venture of Choice and Filmore Capital Partners.