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Berkadia Arranges Construction Loan for FSU Collegetown Hotel Project in Tallahassee
Fort Lauderdale, FL-based Urban Street Development secured $17.46 million in construction financing for Hotel Indigo, a 143-key midrise hotel to be developed in Tallahassee, FL. The hotel will be one of the final pieces to Urban Street Development’s $125-million CollegeTown District.
Berkadia’s Brad Williamson and Kyle Ryan arranged the financing on behalf of the developers, Alan Hooper and Tim Petrillo.
Alan Hooper says, “Hotel Indigo will be a key component of the overall FSU CollegeTown project and experience. This hotel will not only fill a void within the CollegeTown District, but it will be a great amenity to both Florida State University as well as the City of Tallahassee, with its close proximity to the university, airport and downtown Tallahassee.”
This master-planned mixed-use project already includes 982 beds of student housing, 60,000 square feet of retail and restaurant space, and two parking garages containing over 1,000 parking spaces.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development