The Central Station Hotel Memphis (the “Property” or “the Hotel”) is a 123-room, eight-story boutique hotel opened in 2019. Located in the historic Memphis Grand Central Station, originally built in 1914, the Hotel honors the city’s cultural and musical heritage while functioning as an active train and trolley station. Converted to a hotel in 2019, the adaptive reuse project blends historic architecture with modern design and amenities.

The Hotel was developed at a cost of approximately $44 million ($358K per key), with a total all-in basis of $50 million ($405K per key). The property sits on a master ground lease between the Henry Turley Company and the City of Memphis. The project was a joint venture led by Kemmons Wilson Capital Management (KWCM)—the private

investment arm of the Wilson family office, founders of the Holiday Inn brand—and the Henry Turley Company, a respected Memphis-based developer specializing in urban redevelopment and historic preservation.

The Hotel is a key part of the broader Central Station redevelopment, a public-private effort launched in 2015 to transform the underutilized transportation hub into a dynamic mixed-use destination. The redevelopment preserved the site’s AMTRAK service while adding residential units, a hotel, entertainment space, and structured parking.

• 1914 Original Constructed / 2019 Adaptive Reuse Conversion to Hotel (All new Mechanicals in 2019)
• $131 RevPAR – Ranked 3 of 6
• Institutionally Owned And Third Party Managed
• Attractive Long Term Land Lease
• Offered Below Replacement Cost
• Long Term Hilton Franchise
• Operational Management & Efficiency Improvements
• Completed, Ready-to-Run Restaurant with a Separate Space Available for a Café

Memphis: Strategic Economic and Logistics Hub

Memphis is a strategic economic and logistics hub located in the heart of the Southeast. As the core city of a tri-state Metropolitan Statistical Area (MSA) spanning Tennessee, Mississippi, and Arkansas, it provides efficient access to over 30 percent of the U.S. population within a day’s drive. This central location, paired with robust infrastructure, supports a wide range of industries including freight, medical research, tourism, and corporate services. The region, encompassing Shelby, Tipton, Fayette, and Lauderdale Counties in Tennessee; DeSoto County in Mississippi; and Crittenden County in Arkansas, has a metropolitan statistical area (MSA) population of approximately 1.4 million and a regional GDP of around $88 billion.

Tennessee’s pro-business environment further enhances Memphis’s appeal. As a right-to-work state with no personal income tax on wages, Tennessee ranks among the most tax-friendly states in the nation. The state and local tax burden is among the lowest in the U.S., and Memphis boasts significantly lower business and living costs than

other major metropolitan areas. The city’s cost of living is more than 20 percent below the national average, and it has the sixth-shortest metro commute in the U.S.

Multimodal Infrastructure Powering National Access

Memphis offers one of the most advanced multimodal transportation networks in the country, supporting corporate and industrial access across air, rail, road, and river systems. As a key logistics hub, the city is anchored by Memphis International Airport (MEM), just 11.3 miles from downtown—the world’s busiest cargo airport, moving over 8.2 billion pounds of freight annually and serving as the global superhub for FedEx Express. MEM also accommodates 4.8 million passengers and has recently undergone a $1 billion FedEx expansion along with a $245 million Concourse B modernization, featuring wider corridors, enhanced seating, natural lighting, and seismic upgrades. Located just 2 miles away, the International Port of Memphis ranks as the fifth-largest inland port by tonnage, facilitating barge, rail, and trucking operations. The city is intersected by five Class I railroads—CSX, Norfolk Southern, BNSF, Union Pacific, and Canadian National—with intermodal yards streamlining freight distribution. Major interstates—I-40, I-55, I-22, and the future I-69—ensure seamless regional connectivity. Public transit, managed by MATA, supports over five million annual trips through buses, paratransit vehicles, and a downtown trolley system that also serves as a popular

tourist attraction.

Major Employers and Locations

• AutoZone Headquarters (1.3 miles) – Headquarters for the nation’s top auto parts retailer
• FedEx Logistics global headquarters (1.3 miles) - Employs 530,000 Employees Worldwide And Spans 34 Counties
• First Horizon Bank (1.7 miles) – Major financial institution
• Smith & Nephew (7.3 miles) – Global orthopedic and medical tech leader
• Hilton Hotel Operations Center (10.3 miles) - Corporate support hub for globaloperations and services

Flagship Medical Institutions Anchoring Memphis' Regional Healthcare Leadership

Memphis is a premier healthcare destination in the Mid-South, known for its advanced treatment centers, academic institutions, and major hospital systems. Key facilities include St. Jude Children’s Research Hospital, located just 2.8 miles from downtown, which is an international leader in pediatric cancer treatment and research. Methodist Le Bonheur Healthcare, 3.3 miles away, serves as a regional health network and academic partner, while Baptist Memorial Health Care, 20.5 miles away, ranks among the largest hospital systems in the region. Regional One Health, just 3.1 miles away, is home to the area’s only Level I Trauma Center and Burn Unit. The University of Tennessee Health Science Center, located 2.7 miles from downtown, is a leading hub for medical education and research. Together, these institutions drive strong medical travel volumes and generate consistent weekday demand

from patient families, healthcare professionals, and specialty service providers.

Premier Educational Institutions Driving Talent, Innovation and Workforce Growth

Memphis boasts a strong academic ecosystem that drives workforce training, talent retention, and conference demand. Key institutions include the LeMoyne-Owen College (2.2 miles), a historic HBCU; the University of Tennessee Health Science Center (2.7 miles), which provides leading medical education and research; the Southern College of Optometry (3.5 miles); Christian Brothers University (5.1 miles), offering strong STEM and business programs; Rhodes College (5.9 miles), a nationally ranked liberal arts college; the University of Memphis (7.6 miles), a major public research university with 20,000+ students; and Southwest Tennessee Community College (18.3 miles), a hub for customized workforce training.

Key Attractions & Venues

• National Civil Rights Museum (0.7 miles) – Located at the Lorraine Motel; historic civil rights landmark
• Orpheum Theatre (1.1 miles) – Built in 1928; 2,400+ seats, and the only venue between Nashville, Little Rock, St. Louis, and Birmingham that hosts first-run Broadway tours
• Beale Street Entertainment District (1.2 miles) – Welcomes over 4 million visitors annually, renowned for live blues, bars, and nightlife
• The Renasant Convention Center(2.0 miles) in downtown Memphis is a 300,000-square-foot venue that was renovated in 2021 with a $200 million upgrade. It features the largest column-free exhibit hall in the region, multiple ballrooms, and over 90,000 square feet of flexible meeting space, making it ideal for conferences, trade shows, and large events.
• FedExForum (1.4 miles) – $250 million arena with 18,600-seat capacity, 35,000 sq. ft. outdoor plaza, and hosts NBA games for teams like the Memphis Grizzlies, NCAA tournaments, concerts, and events
• AutoZone Park (1.6 miles) – Home to the Memphis Redbirds (AAA Baseball)
• Bass Pro Shops at the Pyramid (2.2 miles) - A 535,000-sq.-ft. retail and entertainment complex with an indoor swamp, 28-story observation deck, hotel, bowling alley, restaurants, and aquariums.
• Memphis Zoo (5.7 miles) – Among top-rated U.S. zoos; features giant pandas
• Graceland (8.1 miles) – Elvis Presley’s home; among the most visited private residences in the U.S.