Dealmaker: Mesa West Capital Provides $45M Loan for Nashville Hotel Acquisition

Mesa West Capital, Los Angeles, provided $45.36 million in first mortgage debt for the acquisition of an Embassy Suites hotel in Nashville, Tenn.

The funds were provided to a joint venture of Reade Hotel Capital and an affiliate of Westpoint Capital Partners.

The Embassy Suites by Hilton Nashville at Vanderbilt features 208 rooms. It’s in the West End pocket of Nashville, just a few blocks from Vanderbilt University’s campus.

A portion of the financing will be used to fund a multimillion-dollar capital improvement program, including renovations of guest rooms and common areas and an increase of meeting space.

“This was an opportunity to provide financing for a cash-flowing asset backed by an experienced sponsorship group, with sufficient capital allocated for necessary renovations–strategically positioning the property to take advantage of Nashville’s strong hospitality demand,” said Mesa West Capital Executive Director Russell Frahm, who led the origination team that included Vice President Brian Hahn and Associate Boyd Howard out of the private lender’s New York City office.

The financing was arranged by Rob Turner, Adam Licari and Auston Ingram of Eastdil Secured’s New York office.