This is Bluegreen’s fourth new acquisition in the previous eight months. Credit: Nik Lanús on Unsplash.

Bluegreen Vacations has announced the purchase of two properties in the Printers Alley district, marking its expansion into Nashville, Tennessee, US.

The first property, a former 15-storey hotel with 86 guestrooms and two penthouse suites, will be sold as vacation ownership interests.

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Bluegreen will renovate the 86 guestrooms, transform the two penthouse suites into presidential units, and construct a new lobby, a fitness centre and an owners’ lounge.

The second is an adjacent two-storey building previously known as the Nashville Trust Company and it will be turned into a sales preview centre.

The Nashville Trust building could potentially be rebuilt into a 15-storey resort, allowing the company to expand in the Nashville market in future.

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This is Bluegreen’s fourth new acquisition in the previous eight months, following the acquisitions of Branson Cedars Resort in Ridgedale, Missouri, Bayside Resort and Spa in Panama City Beach, Florida and Streamside Resort in Vail, Colorado.

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The company recently disclosed the official development beginning on its Mill Springs Resort in Pigeon Forge, Tennessee.

Bluegreen Vacations COO and CFO Ray Lopez said: “We are pleased to add Nashville to the list of Bluegreen destinations.

“This acquisition is part of our overall strategy to offer our owners a diverse range of vacation experiences in some of the most desirable locations in the country.”

Bluegreen is also adding presidential suites to its inventory, with three newly added units at its MountainLoft property in Gatlinburg, Tennessee and seven suites under construction at The Fountains property in Orlando, Florida.