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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.
- ◦Financing
