{"id":1004199839,"date":"2017-12-08T05:29:36","date_gmt":"2017-12-08T13:29:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199839"},"modified":"2022-12-07T08:46:06","modified_gmt":"2022-12-07T16:46:06","slug":"hsf-closes-17m-construction-loan-for-sc-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hsf-closes-17m-construction-loan-for-sc-hotel\/","title":{"rendered":"HSF Closes $17M Construction Loan for SC Hotel"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004199843\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004199843\" data-attachment-id=\"1004199843\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hsf-closes-17m-construction-loan-for-sc-hotel\/untitled-4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg\" data-orig-size=\"991,646\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Untitled\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg?w=991\" class=\"wp-image-1004199843 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg\" alt=\"A rendering of Cambria Suites in Charleston, S.C. \" width=\"300\" height=\"196\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg 991w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg?resize=300,196 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Untitled.jpg?resize=768,501 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004199843\" class=\"wp-caption-text\">A rendering of Cambria Suites in Charleston, S.C.<\/p><\/div>\n<p>Hall Structured Finance has closed a first lien loan totaling $17.3 million to finance the construction of a 126-key Cambria Suites in Charleston, S.C. The <a href=\"https:\/\/www.commercialsearch.com\/news\/cambria-breaks-ground-on-sc-riverfront-hotel\/\">upscale hotel<\/a>\u00a0recently broke ground and will be sponsored by a partnership between RREAF Holdings and Upland Lodging. Built by Freese Johnson Contractors, Cambria Suites is slated to open in early 2019.<\/p>\n<p>The property will be located one mile across the bridge from Charleston\u2019s historic downtown district, at the northwest corner of Highway 61 and Ripley Point. The project is being developed on a nearly three-acre site, providing free shuttle access for business travelers, medical-related travelers, College of Charleston visitors and tourists. The four-story building will feature:<\/p>\n<ul>\n<li>a marketplace<\/li>\n<li>restaurant and bar<\/li>\n<li>1,300 square feet of meeting space<\/li>\n<li>fitness center<\/li>\n<li>outdoor pool<\/li>\n<\/ul>\n<p><em>\u201cThe growing popularity of visiting historic Downtown Charleston will be a major demand generator for this hotel. Charleston sees more than five million visitors per year, making it one of the leading tourism destinations in the nation. We are confident that this new Cambria will do very well given its location and the area\u2019s strong economy, growing tourism and stable hotel market,\u201d<\/em> said HALL Structured Finance President Mike Jaynes, in a prepared statement.<\/p>\n<p>Cambria Hotels &amp; Suites is backed by Choice Hotels International. Currently, there are 25 Cambria properties open across the U.S. and\u00a0approximately 30 more under development in the U.S. and Canada.<\/p>\n<p><em>Image courtesy of HSF <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 126-key Cambria Suites in Charleston has recently broken ground. A joint venture between RREAF Holdings and Upland Lodging is sponsoring the project.<\/p>\n","protected":false},"author":238,"featured_media":1004199843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21751,21742],"tags":[35607,32902,38380,37262],"class_list":["post-1004199839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-hotel","category-latest","tag-cambria-hotels-suites","tag-choice-hotels-international-inc","tag-freese-johnson-contractors","tag-hall-structured-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HSF Closes $17M Construction Loan for SC Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hsf-closes-17m-construction-loan-for-sc-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSF Closes $17M Construction Loan for SC Hotel\" \/>\n<meta property=\"og:description\" content=\"The 126-key Cambria Suites in Charleston has recently broken ground. 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