Dallas-based HALL Structured Finance has closed on a first lien construction loan totaling $53.5 million to develop the MTN Scout Hotel, a full-service Marriott Tribute Portfolio Hotel in Truckee, Calif. The hotel will be part of Gray’s Crossing, a luxury master-planned mountain community that includes high-end homes and a championship golf course. The borrower is Gray’s Crossing Hospitality. The deal was brokered by Malcolm Davies of WAY Capital, Inc.
MTN Scout Hotel will be a three-story, 129-key hotel that will be the first upper-upscale, full-service property in Truckee, a town whose existing hotel are primarily older, limited-service or resort-style accommodations. Hotel amenities will include a full-service restaurant, rooftop bar and lounge, hot tub, business center, fitness center, sundry shop and approximately 4,900 square feet of meeting space.
Located in Nevada County in the Sierra Nevada region of northern California, Truckee has experienced sustained growth due to its proximity to Lake Tahoe and its appeal as a year-round outdoor recreation hub. Key demand drivers for the hotel include the Gray’s Crossing Golf Course, historic downtown Truckee, Donner Lake and nearby Lake Tahoe.
“Truckee is a fast-growing destination that has long been underserved when it comes to modern, full-service hotel accommodations,” Brad Ferguson, vice president of HALL Structured Finance and the loan originator, said in a statement. “We’re proud to help finance MTN Scout Hotel and partner with Gray’s Crossing Hospitality to deliver a high-quality hospitality experience that will elevate the region’s oZerings and meet the needs of today’s travelers.”
Gray’s Crossing Hospitality is responsible for much of the programming within the village, bringing together boutique retail, community park amenities and lodging.
“MTN Scout Hotel will be a one-of-a-kind boutique property within the Tribute Portfolio, and a true game changer in the market. It will draw visitors from near and far to experience the natural splendor of Truckee and Lake Tahoe,” said Matthew Abbate, Gray’s Crossing hospitality managing partner. “Working with HALL has been a fantastic experience—their culture and vision align with ours, laying the foundation for a lasting partnership.”
MTN Scout Hotel is projected to open August 2027.