NASHVILLE-Irving, Texas-based Archon Group has acquired the Hotel Indigo, a 147-key boutique hotel on West End Avenue, at an auction for $18 million. The investment management firm, which held the hotel's loan, paid $122,000 per room for the hotel.
A receiver for 1719 West End Holdings, a Nevada-based Wesley Hotels & Resorts entity, was the seller. The developers of the hotel, who took out a $21.5-million loan in 2007 for the project, lost the property through foreclosure. For the full story, go to Nashville Business Journal .
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