Access Point Finances Dual-branded Marriott Project in Nashville
$37.5 Million Midtown New Build Targeted to Meet Music City Demand
NASHVILLE, Tenn. & ATLANTA -- January 17, 2013
Access Point Financial, Inc., (APF) a direct full-service lending and advisory
firm focused on the hospitality industry, today announced it has provided
first mortgage financing for a $37.5 million, 245-room dual-branded Marriott
project located in the Midtown-West End district of Nashville, Tenn.
The eight-story, mixed-use project is being developed by ACE Hospitality, a
well-regarded developer/owner with a successful history as a hotelier in
Nashville. The hotel complex will comprise a 145-room Residence Inn and a
100-room SpringHill Suites by Marriott. The property, currently set to break
ground by the end of the month, is expected to open in 2014. The hotel will be
managed by Marriott International.
Located at the intersection of 18^th St. and Hayes Ave., the hotel is being
built on the site of the former Days Inn Vanderbilt, around the corner from
Music Row and Vanderbilt University. The hotel also will be convenient to the
1.2 million-square-foot Music City Convention Center scheduled to open midyear
and the adjacent Country Music Hall of Fame expansion at the same site.
“This is a well-conceived project, in a great location, further enhanced by
longstanding relationships with both Marriott and the developer,” said Jon S.
Wright president and CEO of Access Point Financial. “While our sweet spot
continues to be financing the long-delayed CapEx projects as well as providing
bridge financing for low leveraged refinance or acquisitions, we lend to
quality projects such as this. The borrower’s proven 20-year track record,
combined with the city’s robust growth outlook and strong brand affiliations,
made this a perfect fit for our lending platform.”
About Access Point Financial
Access Point Financial, Inc.(APF) is a direct full-service lending and
advisory platform based in Atlanta, Georgia serving branded and independent
hotels in the United States and Canada. Access Point Financial was formed by
Stone Point Capital, a private equity firm based in Greenwich, Connecticut and
the APF Management team. For additional information, please contact
404-382-9599 or visit www.accesspointfinancial.com.
Access Point Financial, Inc.
Jerry Daly, Chris Daly
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