{"id":1004434687,"date":"2020-05-11T06:34:12","date_gmt":"2020-05-11T14:34:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004434687"},"modified":"2021-05-15T08:00:32","modified_gmt":"2021-05-15T16:00:32","slug":"newly-opened-nashville-hotel-gets-60m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newly-opened-nashville-hotel-gets-60m-financing\/","title":{"rendered":"Newly Opened Nashville Hotel Gets $60M Financing"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay.com<\/i><\/p><\/div>\n

Drury Development Co. has obtained a $60 million financing package for Drury Plaza Hotel Nashville Downtown, a recently constructed, 389-key property. Central Bank of St. Louis originated a $50 million note and the company took a $10 million self-financed loan, according to public records. Both mortgages mature in April 2023. <\/p>\n

The property is the company\u2019s third hotel in Nashville and fourth in the state. The developer acquired the land parcel for $2.5 million in 2017 from a private investor. Located on 1 acre at 300 Korean Veterans Blvd., the 22-story hotel opened in late December last year. Amenities include an 8,000-square-foot conference room, a business center, indoor and outdoor swimming pools and a gym. <\/p>\n

Situated in the SoBro neighborhood, the property is close to the Country Music Hall of Fame and Museum, Music City Center and Bridgestone Arena. Nashville International Airport is 7 miles east. The hotel is also within a few blocks of another newly opened hospitality asset, the Hyatt House Nashville\/Downtown, which traded for $57.8 million<\/a> in March.<\/p>\n","protected":false},"excerpt":{"rendered":"

The debt is a combination of a senior note from Central Bank of St. Louis and a self-financed loan.<\/p>\n","protected":false},"author":867,"featured_media":1004318213,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21751,36077,21742],"tags":[38058],"class_list":["post-1004434687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-hotel","category-nashville-knoxville","category-latest","tag-drury-development-corp"],"acf":[],"yoast_head":"\nNewly Opened Nashville Hotel Gets $60M Financing - 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\/newly-opened-nashville-hotel-gets-60m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newly Opened Nashville Hotel Gets $60M Financing\" \/>\n<meta property=\"og:description\" content=\"The debt is a combination of a senior note from Central Bank of St. Louis and a self-financed loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newly-opened-nashville-hotel-gets-60m-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-11T14:34:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T16:00:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/hotel-news-01b.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newly-opened-nashville-hotel-gets-60m-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newly-opened-nashville-hotel-gets-60m-financing\/\",\"name\":\"Newly Opened Nashville Hotel Gets $60M Financing - 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