Officials of Access Point Financial (APF), a direct capital provider focused exclusively on the hospitality industry, announced the company has participated in providing $75 million in mezzanine financing for the 30-story Pendry Hotel & Residences in Nashville, Tenn. The loan bridged between the Bank OZK mortgage and sponsor’s equity in order to facilitate construction. APF provided hotel-specific capital to NYC-based InterVest Capital Partners. APF is also a portfolio company of InterVest Capital Partners.
“In conjunction with OZK, the developer SomeraRoad and the hoteliers Montage/Pendry Hotels and Resorts APF and InterVest have been privileged to be part of this iconic multi-million dollar project,” said Dana Tsakanikas CIO, APF.
APF is one of the few hotel-specific capital providers that has consistently delivered capital solutions to the hospitality industry over the past five years. The $370 million project, developed by SomeraRoad will become the new anchor for The Gulch District in Nashville, a dynamic mixed-use community that is LEED certified. The neighborhood was the first LEED neighborhood in the South. Conveniently located two blocks from Music City Center on the southwest corner of Nashville’s business district, the hotel will feature 180 rooms, 146 luxury condo residences, three F&B outlets and outdoor pool decks.
“We have grown and evolved as a company and continue to actively pursue and provide a wide range of hotel capital solutions, and we hope all sponsors think of us as the first call on their hotel capital need,” said Michael I. Lipson, CEO & chairman of the board, APF.
“We can provide hotel bridge debt, hotel CMBS and sub-debt as well as gap financing, preferred equity investments and quickly execute on esoteric investment such as SASB risk retention tranches and discounted notes purchases for the financing of hotel transactions nationwide.”
Founded in 2011, Atlanta-based Access Point Financial (APF) is a direct, full-service specialty lender focused on the hospitality industry, offering a full-service lending & advisory platform that provides financing to qualified hotel franchisees of all major brands and independent boutique hotels throughout the United States.
