Northmarq Negotiates $55M Refi of Drury Plaza Hotel Nashville Downtown
Northmarq has arranged a $55-million, fixed rate, non-recourse loan on the Drury Plaza Hotel Nashville Downtown in Nashville, TN.
Jeff Chaney and Dan Baker with Northmarq secured the loan on behalf of Drury Development Corporation through the company’s correspondent relationship with a life insurance company. The transaction was structured with a 10-year loan term on a 25-year amortization schedule.
The 22-story Drury Plaza Hotel, which opened in 2019, features 389 guest rooms and more than 8,000 square feet of meeting and event space. It also has a full bar and restaurant called The Kitchen + Bar @ SOBRO. The hotel is located near the Bridgestone Arena, Nashville Music City Center and the Country Music Hall of Fame.
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.
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