We represented the developer in connection with approximately $100 million in financing for the Westin Nashville Hotel project. The financing consists of three facilities – a $68 million first mortgage construction loan from Bank of the Ozarks, a $24 million mezzanine loan from the Galaxy Fund Group and a $16 million TIF loan from Western Alliance through the Metropolitan Development and Housing Agency. The project will feature 27 floors; 454 rooms; 8,000 sq. ft. of restaurant space; 6,000 sq. ft. for a destination spa; and a rooftop bar, lounge and pool, all at a projected cost of $120 million. This project will create 650 jobs during construction and 375 permanent jobs once the hotel opens.
$100 Million in Financing for Westin Nashville Hotel Project
Client Type: Private Company
You Also May Be Interested In:
-
Representing the independent Special Committee of Strategic Storage Growth Trust, Inc. (SSGT), in its definitive agreement to merge with Strategic Storage Trust II, Inc., (SST II) in an all-cash merger valued at $340 million expected to close during the first quarter of 2019, subject to customary closing conditions, including the approval of SSGT’s stockholders
-
Represented Smyrna Ready Mix Concrete in the refinancing of its senior credit facilities
-
Represented New Mountain Capital in the $109.5 million sale leaseback of real property located in Indiana, New Mexico, Mississippi, Oregon, Pennsylvania and Mexico with FXI, Inc.