A Mexican investor has acquired the hotel portion of the new Four Seasons tower in Nashville, Tennessee, for $165 million.

GD Holdings acquired the 100 Demonbreun St. tower from Congress Group and AECOM Capital, according to public records. GD Holdings, a Denver-based affiliate of Mexican apparel company Grupo Denim, obtained a $172 million from Column Financial to finance the acquisition.

The 40-story building opened this week and includes 143 condominium units called Private Residences Nashville and a Four Seasons-branded, 235-room hotel on eight floors.

Investor demand for Nashville hotels has continued to grow, despite predictions among investors that the market had peaked. However, the hospitality market in other U.S. cities has struggled, including in San Francisco.

In one recent Nashville deal, RLJ Lodging Trust acquired the 21c Museum Hotel Nashville in the city’s Arts District for $59 million. An RLJ executive said the real estate investment trust expects the hotel to generate revenue per available room at twice its portfolio average.

Boston-based Congress Group acquired the 2-acre Nashville site in 2016 and later partnered with AECOM Capital and Toronto-based Four Seasons Hotels & Resorts on the development. It’s located in downtown Nashville on the Cumberland River within walking distance of the city’s entertainment district.

Solomon Cordwell Buenz was the architect for the project. AECOM Hunt is the general contractor. Neal & Harwell was legal counsel on the sale.