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Reade Hotel Capital And Westport Capital Partners Secure $45.36M Loan For Embassy Suites Nashville

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FINANCED
$45,360,000

Tennessee

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Hotel
Financed 04/29/2025
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FINANCED

Reade Hotel Capital And Westport Capital Partners Secure $45.36M Loan For Embassy Suites Nashville

1811 Broadway

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Hotel
Financed 04/29/2025
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Summary

TENNESSEE
Asset Type:Hotel
Transaction Type:Loan

The asset involved in this transaction is the Embassy Suites Nashville at Vanderbilt, located at 1811 Broadway in Nashville, TN. It is a hotel with a total of 208 keys. The acquisition loan for this property amounted to $45,360,000, which is categorized as first mortgage debt.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $45,360,000
  • Address: 1811 Broadway
  • Market: Nashville, TN
  • Asset Type: Hotel
  • Keys: 208
  • Lender: Russell Frahm - Mesa West Capital
  • Landlord: Reade Hotel Capital & Westport Capital Partners
  • Loan Type: Acquisition

This transaction involved Mesa West Capital, executing the loan to Reade Hotel Capital and a Westport Capital affiliate for the purpose of acquiring and renovating the hotel property. The deal is characterized by the strategic partnership of both Reade Hotel Capital and Westport Capital Partners in this acquisition process.

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6 deals$377.8M volume
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Details

FINANCED
IMAGE: 04/29/2025 ADDRESS: 1811 Broadway MARKET: Nashville, TN ASSET TYPE: Hotel ~ KEYS: 208 LENDER: Russell Frahm - Mesa West Capital LANDLORD: Reade Hotel Capital & Westport Capital Partners LOAN AMOUNT: $45,360,000 LOAN TYPE: Acquisition NOTE: Mesa West Capital loaned $45.36M in first mortgage debt to Reade Hotel Capital and a Westport Capital affiliate to acquire and renovate the 208-room Embassy Suites Nashville at Vanderbilt.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$45,360,000.00

Monthly NOI$302,400.00
Monthly Debt Service$286,706.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00