Dealmaker: RobertDouglas Advises on DoubleTree Suites Nashville Airport Refinancing

RobertDouglas, New York, advised a joint venture between Wexford Lodging Advisors and Trinity Private Equity Group in refinancing the 138-key DoubleTree Suites Nashville Airport hotel.

The new non-recourse senior mortgage came with a five-year term. A life insurance company provided the floating-rate financing.

Located in the growing Nashville Airport submarket eight miles from downtown, the all-suite DoubleTree Suites Nashville Airport is surrounded by 8.5 million square feet of office space. The Nashville International Airport is undergoing a multi-year, $1.4 billion expansion and renovation.

Since acquiring the DoubleTree Suites Nashville Airport in 2019, Wexford Lodging Advisors and Trinity Private Equity Group have renovated public spaces and rooms.

“The hospitality market for Nashville and its Airport submarket continues to show strong growth, influenced by the airport renovation and the high level of complementary investment,” said Patrick Tan, Associate with RobertDouglas. “The combination of DoubleTree Suites Nashville Airport’s institutional sponsorship and compelling business plan attracted strong interest from a diverse pool of lenders.”

The Mortgage Bankers Association will hold its 2022 Annual Convention & Expo in Nashville. The Convention takes place Oct. 23-26.

RobertDouglas Principal and Managing Director Evan Hurd said Nashville’s mix of leisure and corporate demand is fueling strong investment activity in many asset classes, especially hospitality.