Nashville-based hotel development company Pinnacle Hospitality Partners has paid about $14.83 million for an East Bank site near River North — 18.5 times the figure for which the property last changed ownership hands about six years ago.

Via an LLC, Pinnacle now owns the 2.28-acre two-parcel property, which offers a main address of 801 Cowan St.

801 Cowan art

801 Cowan St.