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Reade Hotel Capital paid $57.5 million for Embassy Suites Nashville at Vanderbilt, which the Nashville Business Journal reports is nearly $9 million less than what it sold for a decade ago.

The hotel, owned by investment trust Moody National Reit II Inc., is located at 1811 Broadway on 1.25 acres.

Moody National Reit II paid $66.3 million for the Embassy Suites in June 2015. With 208 rooms, the pending deal is equivalent to around $276,442 per room.