Arriba Capital Grants $20M Construction Loan For Element By Westin Hotel In Charleston

Arriba Capital, a company based in Arizona, has granted a $20 million loan to support the construction of Element by Westin, a hotel project in Charleston. The property, located at 4865 North Arco Lane, offers 125 rooms and various amenities such as complimentary breakfast, a swimming pool, fitness center, bar, guest laundry room, and sundries shop.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $20,000,000
• Address: 4865 North Arco Lane
• Market: Charleston, SC
• Lender: Arriba Capital
• Landlord: Contender Development

Arriba Capital, an Arizona-based company, provided a $20 million construction loan to Contender Development for the Element by Westin hotel project in Charleston, SC. The 125-room property, located at 4865 North Arco Lane, will feature amenities such as complimentary breakfast, a swimming pool, fitness center, bar, guest laundry room, and sundries shop.