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Knighthead Funding has provided a $37.6-million first mortgage loan to refinance the Marriott TownePlace Suites in Nashville, TN.

Knighthead Provides $38M Refi to 204-Room Marriott Hotel in Nashville

Knighthead Funding, LLC, has provided a $37.6-million first mortgage loan to refinance the 204-key Marriott TownePlace Suites hotel in downtown Nashville, TN. The five-year, non-recourse loan refinances the in-place construction loan.

Peter Illuzi of Knighthead originated the loan.

“The underlying fundamentals of the Nashville market continue to show impressive strength, with the growing numbers of people traveling for both business and pleasure increasing demand for assets like TownePlace Suites Downtown,” said Jonathan Daniel, principal of Knighthead.

Opened in October 2020, TownePlace Suites Downtown is one of Marriott’s extended- stay, all-suite hotels in the market and features amenity package that includes a rooftop bar, a fitness center and a 1,080-square-foot coffee shop. According to Knighthead, the property has come out of the COVID-19 pandemic exceeding average daily rate and occupancy projections year-to-date.

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Knighthead Funding, LLC's Daniel

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Financing