Drury Development Corp Refinances Nashville Hotel With $55M Loan

A hotel property located at 300 Korean Veterans Blvd in Nashville, TN has recently undergone a loan transaction. The property, with a size of approximately 8,000 square feet, was refinanced for a total loan amount of $55,000,000. The loan terms are set for a 10-year duration, with a fixed interest rate. It is important to note that the loan is non-recourse, providing additional protection for the borrower.

Summary of transaction details

• Property Type: Hotel
• Loan Amount: $55,000,000
• Loan Type: Refinance
• Loan Terms: 10-year, fixed-rate, non-recourse loan

The landlords of the property are Drury Development Corp. Acting as the brokers for the transaction are Jeff Chaney and Dan Baker from Northmarq. They were responsible for facilitating the loan refinance on behalf of the property owner. Their expertise in the market and negotiation skills contributed to the successful completion of the deal.