Canyon Partners invests $51.5M in Charlotte Moxy

Canyon Partners Real Estate LLC has provided a $51.5-million senior loan to TMGOC Ventures, a partnership between Opterra Capital and The Montford Group, for the construction of a 13-story, 208-room Moxy Hotel located in Charlotte, NC. The Moxy Charlotte is scheduled to open in September 2024, and represents Canyon’s second transaction with TMGOC Ventures and its third Moxy Hotel financing. The hotel will be managed by Aimbridge Hospitality.

Located in Uptown Charlotte, one block from two major mass transit systems, Moxy Charlotte will sit at the center of the city’s business, sports and entertainment venues. As an established financial hub with a growing technology workforce, the city is home to the corporate headquarters of nine Fortune 500 and 18 Fortune 1000 companies, as well as main offices for three of the nation’s largest banks.

“Uptown Charlotte continues to benefit from a strong business environment, with several corporate expansions and relocations bringing traveling professionals to the city,” said Sunju Patel, CEO, The Montford Group. “This level of positive activity lays the path for long-term demand for centrally located hospitality assets.”

Glenn Alba, CEO, Opterra Capital, said, “With over two million sq. ft. of office space under construction or recently delivered in Uptown Charlotte, and employees at major companies in the region returning to in-person work, Moxy Charlotte is perfectly placed to accommodate the upcoming influx of activity. This project is well-timed in such a dynamic and flourishing city.”

Amenities offered at Moxy Charlotte will include a rooftop terrace, a Starbucks coffee shop and a bar on the top floor. It is close to sports venues Bank of America Stadium and the Spectrum Center, which houses the city’s professional basketball team.

Moxy Hotels are affiliated with Marriott International and Moxy Charlotte will benefit from Marriott’s world-class reservation system and guest loyalty program, Bonvoy, with more than 160 million rewards members.