HALL Structured Finance has originated a $16.6 million first lien construction loan in connection with the development of a Hyatt Place hotel in Jackson, Tennessee. The five-story, 127-room hotel is being built adjacent to the Jackson-Madison County General Hospital (JMCGH) and will be the only hotel within a 3.5-mile radius of the campus. The Ronald McDonald House will lease the hotel’s entire second floor.
“Hyatt Place’s strategic location near Jackson-Madison County General Hospital, the only tertiary care hospital between Memphis and Nashville, will be a great asset to the West Tennessee market,” stated Brian Mitchell, HSF Vice President and loan originator. “We are proud to support the hotel’s development which will provide accommodations to hundreds of families through the Ronald McDonald House program.”
The developer, Hunt Properties, is based in Jackson, Tennessee. The broker for the loan was Tim Valaski with Arriba Capital.
Read more here.
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