HFF secures $40.7 million construction financing for Hyatt House hotel in Nashville, Tennessee
ATLANTA, GA – May 15, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $40.7 million in construction financing for the development of a new 201-room, 15-story Hyatt House hotel in Nashville’s West End area.
HFF worked on behalf of the developer, a joint venture between Atlanta-based Songy Highroads LLC and a Hyatt affiliate, to place the construction loan with Citizens Bank.
The new Hyatt House Nashville West End will be a midrise extended-stay hotel featuring full kitchen suites in select rooms, lobby lounge and H Bar, outdoor patio with fire pit and grills, complimentary Morning Spread breakfast, evening happy hour, 24-hour fitness center, outdoor pool with pool deck, meeting space and more. The hotel is expected to be completed in early 2019. Situated on .62 acres at 21st Avenue North and Hayes Street, the hotel’s West End location places it in close proximity to Vanderbilt University, Vanderbilt University Medical Center and Children’s Hospital, Belmont University, St. Thomas Hospital and Tri-Star Centennial Medical Center.
The HFF debt placement team representing the developer was led by senior managing director Ed Coco and associate Matt Casey.
“This Hyatt House project is ideally located squarely in the heart of the West End’s largest demand drivers,” said Coco. “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.”
About Hyatt House
Hyatt House, a brand of Hyatt Hotels Corporation, launched in 2012 and offers more than 70 locations throughout the United States, China and Puerto Rico. Inspired by extensive research into guest experiences, Hyatt House hotels offer services, amenities, upscale spaces and a casual, comfortable environment that reminds guests of home. For more information, please visit hyatthouse.com. Join the conversation on Facebook, and tag photos with #HyattHouse and #WhySettle.
About Songy Highroads LLC
Songy Highroads LLC (SHR) is a commercial real estate firm that acquires, renovates, develops and manages institutional quality real estate projects primarily throughout the Southeastern United States. SHR targets particular emphasis in the office, hotel and mixed-use sectors. The SHR business model is to strategically acquire or manage income properties in select viable markets that require enhanced operating performance or physical upgrades. For more information, visit songyhighroads.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.