The LCP Group, a private real estate investment firm specializing in hospitality investing, has originated a $45,250,000 construction loan to Sun Development & Management Corp. to develop The Printing House, a Tapestry by Hilton located in Nashville, Tenn. LCP partnered with Safanad Limited on the loan origination and syndicated a senior tranche to Knighthead Funding, LLC.
The 11-story, 180-room hotel and retail development will have ground-floor retail, three parking levels, an elevated lobby check-in, and guestrooms with views of Nashville. The hotel’s restaurant and lounge, The Local Kitchen & Tap, will have an outdoor rooftop pool with a sundeck.
Ratio Architects will design The Printing House, located on the former Johnstone Supply building site. The growing SoBro District of Downtown Nashville, in the southwest quadrant of the intersection formed by 3rd Avenue South and Peabody Street, contains many of the city’s shops, the Country Music Hall of Fame, the Bridgestone Arena, the Nashville Convention Center, and local restaurants, all within walking distance of The Printing House.
Indianapolis-based Sun, a hotel developer with Hilton Hotels across the United States, will develop The Printing House. Sun currently operates 14 properties with over 1,898 rooms across seven states and has developed over 60 hotels.