16 May 2017
Nashville
Reporter: Theo Andrew

$40.7 million loan secured for Nashville hotel development


HFF has secured financing for the development of a 15-storey hotel in Nashville to the tune of $40.7 million.

Financing for the 201-room hotel was secured with a loan from Citizens Bank for the joint venture between Hyatt and Atlanta-based Songy Highroads.

The hotel is located on the corner of 21st Avenue North and Hayes Street in the West End of the city.

Expected to be completed in 2019, the hotel will feature full kitchen suites in selected rooms, 24-hour fitness centre and an outdoor pool.

Ed Coco, senior managing director at HFF, said: “Fundamentals for the extended-stay product continue to flourish in this incredibly strong submarket, and the collaboration between Songy Highroads and Hyatt will develop a best-in-class project to service this stable and growing demand.”

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