Twain Financial Partners announced the successful financing of $10.5MM in ground lease capital to the Hyatt Place hotel in Nashville, TN.
Twain’s funding will aide in the construction of a 129-room select service hotel. In addition to the guest rooms, the hotel will offer a fitness center, meeting rooms, restaurant and bar. Construction began in June 2021 and is expected to complete mid-2024.
RevPAR Development will serve as developer and manager of this project. The firm is a hotel development, management and consulting firm. The company currently manages 22 hotel properties in seven states and has established itself as a highly successful and respected hospitality development and management company.
“We are truly excited to get our Hyatt Place project started in Nashville,” said Pete Patel, President and CEO of RevPAR Development. “The Twain team was exceptional to work with and was able to assist us with getting our project financed. We look forward to working with them in the future on more projects.”
“Twain is proud to be a part of this project,” said Andy Weber, Business Development Officer at Twain. “We believe this hotel will be an important asset to the Nashville community. We are also excited to have closed on another hotel financing in an especially challenging environment.”