Canyon Partners Real Estate has provided a $25.2 million loan to a joint venture between Opterra Capital and The Montford Group for the construction of a seven-story select-service Moxy hotel located in Charleston, S.C.
Featuring 131 guest rooms, the hotel construction is expected to commence immediately and is slated to open in late 2022. The hotel will be located in the Upper Peninsula District, a rapidly evolving submarket, less than a mile north of Charleston’s Historic District. Features of the hotel will include a rooftop bar and restaurant, first-floor café, large meeting space and lobby bar and lounge. Moxy Hotels are affiliated with Marriott International
The transaction was facilitated by Hodges Ward Elliott. This investment brings Canyon’s real estate portfolio to approximately $6.1 billion of project capitalization.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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