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Pendry Nashville – Image Credit Pendry Hotels
Walker & Dunlop, Inc. has arranged a $253 million construction loan to support the development of Pendry Nashville and Pendry Residences Nashville, a forthcoming 30-story hotel condominium tower in Nashville’s Paseo South Gulch district.
The Walker & Dunlop New York Capital Markets team, which includes Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Bastian, and Jackson Irwin, organized the loan. Bank OZK and InterVest Capital Partners provided the financing package on behalf of SomeraRoad and Trestle Studio.
Walker & Dunlop’s Hospitality team members Jay Morrow and Carter Gradwell worked closely with SomeraRoad during the process and collaborated with the New York Capital Markets team.
The project is the third phase of the Paseo South Gulch master-planned micro-neighborhood developed by SomeraRoad. Pendry Nashville Hotel & Residences will offer 180 hotel rooms and 146 luxury condominiums branded by Pendry. Once completed, the development will feature various amenities, including multiple upscale dining options, curated event spaces, and separate pools for hotel guests and residents.
Aaron Appel, senior managing director and co-head of New York Capital Markets at Walker & Dunlop, expressed confidence in SomeraRoad’s long-term vision for the neighborhood. He noted that despite some capital providers becoming cautious about complex mixed-use developments, this transaction highlights the availability of liquidity for such unique projects backed by qualified sponsors.
The construction of the hotel and residences is set to begin immediately and is scheduled to open in 2027.
