Access Point Financial Participates in $75 Million Mezzanine Financing for Pendry Hotel & Residences in Nashville, Tenn.

ATLANTA--(BUSINESS WIRE)--Officials of Access Point Financial (APF), a direct capital provider focused exclusively on the hospitality industry, today 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 the gap between the Bank OZK first mortgage and the sponsor’s equity to facilitate construction. APF acted as the hotel-specific capital provider to NYC-based private equity group, InterVest Capital Partners, of which APF is a portfolio company.

“In conjunction with our colleagues at OZK, developer SomeraRoad and hoteliers Montage/Pendry Hotels and Resorts, APF and InterVest are privileged to be a part of this iconic, multi-million-dollar project,” said Dana Tsakanikas, CIO, APF. “APF has been one of the only hotel-specific capital providers consistently delivering on capital solutions for the hospitality industry in the past five years.”

Developed by SomeraRoad, the $370 million project will evolve into the new anchor of The Gulch District, a dynamic, mixed-use, LEED-certified community in the heart of Nashville. 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 have the ability to deliver hotel bridge debt, hotel CMBS, sub-debt, gap financing and preferred equity investments, as well as quickly executing on esoteric investments including SASB risk-retention tranches and discounted note purchases, for the financing of hotels transactions nationwide.”

About Access Point Financial

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. For additional information and key contacts, please visit www.accesspointfinancial.com.