NASHVILLE, TENN. — Walker & Dunlop (NYSE: WD) has arranged a $253 million construction loan for the development of the Pendry Nashville and Pendry Residences Nashville, a luxury 30-story hotel and condominium tower located in the city’s Gulch district.
Pendry Hotels & Resorts, in partnership with investment and development firms SomeraRoad and Trestle Studios, plan to immediately break ground on the project. Upon completion, Pendry Nashville will include 180 guestrooms and suites, while 146 for-sale residences will be offered at Pendry Residences.
The Pendry Nashville Hotel & Residences development is part of Phase III of the Paseo South Gulch master-planned micro-neighborhood, a 1 million-square-foot mixed-use district developed by SomeraRoad.
Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Bastian and Jackson Irwin of the Walker & Dunlop New York Capital Markets team arranged the loan. Bank OZK and InterVest Capital Partners provided the financing package on behalf of SomeraRoad and Trestle Studio.
Jay Morrow and Carter Gradwell of the Walker & Dunlop Hospitality team represented SomeraRoad throughout the financing process, working in collaboration with the firm’s New York Capital Markets team.
“Having worked with SomeraRoad to capitalize prior phases of their Paseo South Gulch master-planned development, we are firm believers in their long-term vision for the neighborhood,” said Appel.
The Pendry Nashville development is set to feature amenities such as a ground-level restaurant and lobby bar, rooftop swimming pool, 24/7 indoor-outdoor fitness center, library, garden, writer’s room, a junior ballroom with a show kitchen and a ballroom with a private outdoor terrace. Additionally, 10,000 square feet of meeting and event space will be available for use.
The Pendry Residences Nashville will feature one-, two-, three- and four-bedroom floorplans reaching up to 3,800 square feet. Condominium owners will be able to access the hotel’s services and amenities, as well as exclusive residential features including a private pool, dining room and whiskey and billiards room. The project is slated to open in 2027.
Pendry Nashville’s design-build team includes local architectural firm ESa, New York-based interior design studio Post Co., JE Dunn Capital Partners, Redeavor and Clark Construction, according to multiple sources.
Walker & Dunlop is one of the largest commercial real estate finance and advisory services firms in the United States, specializing in multifamily and other commercial real estate financing, investment sales and advisory services.
— Abby Cox