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Opterra Capital, The Montford Group Secure $52M Build Loan for Moxy Hotel Charlotte
TMGOC Ventures, a partnership between Opterra Capital and The Montford Group, has received a $51.5-million senior loan from Canyon Partners Real Estate, LLC, for the construction of a 13-story, 208-room Moxy Hotel located in the Uptown district of Charlotte, NC.
The Moxy Charlotte represents Canyon’s second transaction with TMGOC Ventures and its third Moxy Hotel financing.
Moxy Charlotte will sit one block from two mass transit systems and surrounded by business, sports and entertainment venues. Charlotte is home to the corporate headquarters of nine Fortune 500 and 18 Fortune 1000 companies, as well as main offices for three of the nation’s largest banks.
“Uptown Charlotte continues to benefit from a strong business environment, with several corporate expansions and relocations bringing traveling professionals to the city,” said Sunju Patel of The Montford Group. This level of positive activity lays the path for long-term demand for centrally located hospitality assets.”
Moxy Hotels are affiliated with Marriott International.
- ◦Development