Francisco Nacorda, senior vice president of originations at Mag Mile Capital, closed a $43.1 million loan in connection with the development of a four-story hotel with parking garage in the booming West End/Midtown region of Nashville, Tennessee. Situated close to Vanderbilt University, the hotel site is only a block away from Broadway.
The hotel, to be located at 2221 Elliston Place will host 184 rooms and 70 parking spaces. The projected opening date is Summer 2023.
Mag Mile Capital is a boutique firm that offers preferred access nationwide to high-leverage, non-recourse, commercial real estate bridge loans, construction loans and permanent mortgages with cash out for hotels, self-storage, multifamily, industrial, retail, office and other commercial real estate
