The city is one step closer to closing on the Sheraton deal
At a Downtown Memphis Commission meeting, the 250 North Main LLC approved the purchase agreement for the city to buy the 600-room hotel at 250 N. Main St. (Sophia Surrett/The Daily Memphian)
The nonprofit that will hold and oversee the Sheraton Memphis Downtown Hotel on behalf of the city approved an agreement to buy the hotel for $22 million on Friday, Oct. 31.
At a Downtown Memphis Commission meeting, the 250 North Main LLC approved the purchase agreement for the city to buy the 600-room hotel at 250 N. Main St.
The approval by 250 North Main LLC, a subsidiary of the DMC’s Center City Development Corp., is one of the last steps before the deal closes on Wednesday, Nov. 5.
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Sophia Surrett
Sophia Surrett is a University of Alabama graduate, where she received her B.A. in news media and M.A. in journalism and media studies. She covers small business, nonprofits, restaurant real estate, hospitality and tourism, manufacturing, and transportation and logistics.
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