NEW YORK, NY (December 1997): Allen Toman, managing director of Hotel Partners Capital Group (HPCG), announced the placement of a $25 MM construction loan for development of the 300-room Nashville Marriott at Franklin in Franklin, TN, a southern suburb of Nashville. The hotel developer is a joint venture between the principals of Stormont Trice Corporation and Regent Partners, both of Atlanta. Senior vice president William Waldron of HPCG's New York office arranged this hotel loan, which closed in December. The lender is SouthTrust Bank.
This is a private-public hotel development located in Cool Springs, a 1,050-acre planned unit development located along Interstate 65. Cool Springs is the focal point of Franklin's commercial and residential growth. The hotel will connect with the 55,000-square foot Cool Springs Conference Center. Development of the conference center will be fully funded through the public sector.
The Marriott will contain approximately 165,000 square feet and include extensive guest amenities and recreational facilities. The hotel will be owned by the joint venture between Stormont Trice Corporation and Regent Partners and operated by Stormont Trice. The conference center will be operated by Stormont Trice, but owned by the city and county.
About Hotel Partners Capital Group Hotel Partners Capital Group a division of Hotel Partners International provides sophisticated assistance in debt and equity financing, asset management and an array of capital and asset advisory services. Hotel Partners International has offices in Atlanta, Boston, Chicago, Dallas, Hong Kong, Honolulu, London, Los Angeles, Miami, New York, Singapore and Tokyo.