HALL Structured Finance has closed on a first-lien construction loan totaling $60.25 million to develop The Ballad Hotel, a Tapestry Collection by Hilton property in Clearwater, FL. The project sponsor is The DeNunzio Group LLC. The deal was brokered by Clint Frease and Tyler Dumon of Newmark.
The property will be a 10-story, 158-key, full-service hotel featuring a lobby bar, sundry shop, outdoor pool, fitness center and rooftop restaurant and lounge. The project will also feature ground-level retail, including space for a high-end restaurant, salon or wellness concept, along with a two-story standalone building designed to accommodate two additional restaurant tenants and other retail opportunities.
The project is located adjacent to Coachman Park, a waterfront public park along the Intracoastal Waterway that features a marina and the recently built BayCare Sound Amphitheatre for concerts and community events. The site is also part of the Bluffs development, which will include a 400-unit high-rise multifamily component.
“Clearwater continues to emerge as one of Florida’s most compelling hospitality and mixed-use markets, driven by strong tourism demand and significant public investment,” said Allyson Van Blarcum, loan originator/VP, HALL Structured Finance. “The Ballad Hotel’s premier location adjacent to Coachman Park and its integration with the broader Bluffs development position it to be a transformational asset for Clearwater.”
Dustin DeNunzio, founder/president, The DeNunzio Group LLC, said, “The Ballad Hotel represents the next chapter of thoughtfully designed hospitality in Clearwater—one that reflects the city’s momentum, its evolving waterfront identity and the demand for high-quality, experience-driven accommodations. We’re excited to see this development contribute to Clearwater’s continued growth as a premier destination.”
