HSF will bring this Choice brand to Charleston

Hall Structured Finance has closed a new first lien loan totaling $17.3 million to finance the construction of a 126-guestroom Cambria Suites in Charleston, S.C. The project—which broke ground in October and is slated to open in early 2019—is sponsored by a joint venture partnership between RREAF Holdings and Upland Lodging. 
“The growing popularity of visiting historic Downtown Charleston will be a major demand generator for this hotel,” Mike Jaynes, president of HALL Structured Finance, said in a statement. “Charleston sees more than 5 million visitors per year, making it one of the leading tourism destinations in the nation. We are confident that this new Cambria will do very well given its location and the area’s strong economy, growing tourism and stable hotel market.”
The hotel will be located one mile across the bridge from Charleston’s historic downtown district at the northwest corner of Highway 61 and Ripley Point on a nearly three-acre site.
There are currently 25 Cambria properties open across the U.S., with approximately 30 more under development in the U.S. and Canada. 

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.