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**Ocean Properties Acquires Bobby Nashville Hotel for $50 Million**
Ocean Properties has acquired the Bobby Nashville Hotel in a $50 million deal. The property, located at 230 Fourth Avenue North in downtown Nashville, was developed by Castlerock Asset Management and opened its doors in 2018.
According to the Nashville Business Journal, earlier this year Castlerock sold its affiliated equity ownership in a transaction that valued the hotel at $72 million. Music City Venture GP, reportedly a prior part-owner of the property, became the sole owner at that time through that deal.
The Bobby Nashville is a 144-key boutique hotel known for its vibrant atmosphere, featuring a rooftop bar, an on-site restaurant, and entertainment offerings that reflect the city’s unique culture.
The new owner, Ocean Properties, is one of the largest privately held hotel management and development firms in the United States. Founded in 1969, the company manages nearly 80 properties, with a portfolio that includes waterfront hotels primarily located in Florida and across the Northeastern U.S.
This acquisition strengthens Ocean Properties’ presence in the growing Nashville market—further positioning the firm in key urban hospitality destinations.
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