C.B. Ragland has secured $66 million of construction financing for the Hyatt Centric Downtown Nashville, a planned 252-key hotel project. According to public records, SunTrust Bank provided the note for the development, which is anticipated to deliver in summer 2021.
SunTrust continues to be an active lender in the Nashville area. In March, the bank provided $72 million in acquisition financing for one of this year’s largest office transactions in the metro.
The Hyatt’s half-acre project site, located at 200 Molloy St., is across the street from 222, a 390,000-square-foot mixed-use development completed by C.B. Ragland in late 2017. The hotel will operate within half a mile of nearly 5 million square feet of office space, according to Yardi Matrix. Many of the city’s major tourist attractions, including the Country Music Hall of Fame, Bridgestone Arena and the Music City Center, are a short walk away.
The hotel, planned to rise 20 stories, will be managed by Hyatt. The property will contain a variety of guest amenities, including a rooftop deck with a swimming pool, 4,500 square feet of event space, a restaurant, a bar and some additional 4,000 square feet of retail space.