The joint venture between Smith Hill Capital, the commercial real estate debt investment management business of the Procaccianti Companies, and Bain Capital’s Special Situations team originated a first mortgage financing for the Embassy Suites by Hilton Nashville Airport. The first mortgage has a total available balance of $57 million.
The 305-key property is close to Nashville International Airport, downtown Nashville and One Century Place Conference Center. Amenities at the hotel include an airport shuttle, fitness center, business center, indoor pool, complimentary evening reception and more than 6,000 sq. ft. of meeting space.
“Despite uncertain market conditions, our platform continues to provide capital solutions for hospitality owners and their assets,” said Brendan McCormick, managing principal, Smith Hill Capital. “The Embassy Suites by Hilton Nashville Airport is a high-quality asset with strong sponsorship that aligns very well with our goal of providing loans to institutional quality sponsors. It was a pleasure working with the teams at Affinius Capital and Westmont Hospitality, and their advisors at Eastdil Secured on this financing.”
