HKS Real Estate Advisors has arranged a $25 million loan for the development of a 189-key, dual-branded Hampton Inn and Home2 Suites by Hilton, located in the Century Farms master-planned community in Antioch, Tenn.
The financing—led by Daniel Kowalsky, managing director, and Max Rubinchik, analyst, HKS—was obtained on behalf of borrower Milap Hotels, a hospitality company which is led by veterans Nish Jobalia and Nick Patel. The transaction was structured with $15.55 million in senior debt from Mountain Commerce Bank and $9.9 million in C-PACE financing provided by Nuveen.
Located just outside of downtown Nashville, the hotel is poised to benefit from the area’s growth, strong tourism economy and the ongoing expansion of the Century Farms development, according to the company. The combination of two Hilton brands under one roof is designed to maximize operational efficiency while appealing to a broad guest demographic ranging from business travelers to extended-stay guests.