$44.5 Million Financing for Downtown Memphis Hyatt Centric Hotel

We represented a financial services company in connection with a $44.5 million construction loan for the development of the 227-room Hyatt Centric Hotel located in downtown Memphis, Tennessee. The borrower/developer is a joint venture between a Memphis developer and Hyatt Hotels Corporation. The new hotel, which will overlook the Mississippi River at the foot of Beale Street and will have a total development cost exceeding $65 million, is part of the One Beale development.