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Mountain Commerce Bank And Nuveen Provide $25M Loan For Construction Of Hotel In Antioch
FINANCED
$25,000,000
Tennessee
See Similar DealsHotel
Financed 07/14/2025
FINANCED
Mountain Commerce Bank And Nuveen Provide $25M Loan For Construction Of Hotel In Antioch
Century Farms Parkway
See Similar DealsHotel
Financed 07/14/2025
Summary
TENNESSEE
Asset Type:Hotel
Transaction Type:Loan
The transaction involves a dual-branded hotel asset, comprising 189 rooms and located at Century Farms Parkway in Antioch, TN. The deal is supported by a construction loan amounting to $25,000,000, sourced through Mountain Commerce Bank and Nuveen, in the hotel market near Nashville.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $25,000,000
- Lender: Mountain Commerce Bank & Nuveen
- Landlord: Nish Jobalia & Nick Patel - Milap Hotels
- Broker: HKS Real Estate Advisor
- Loan Type: Construction
HKS Real Estate Advisors played a crucial role in securing financing for the development, representing Milap Hotels. The involvement of Nish Jobalia and Nick Patel highlights their investment in expanding hotel accommodations in the area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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