Citizens Bank announced that Citizens Commercial Banking provided a $41 million loan to a joint venture between Atlanta-based Songy Highroads LLC and an affiliate of Chicago-based Hyatt Hotels Corporation for the construction of a new 201-room, 15-story Hyatt House hotel in Nashville’s West End.

The hotel will be located at 21st Avenue and Hayes Street and is expected to be completed in early 2019.

“Citizens has been an excellent strategic and financial resource and we look forward to working with them more in the future,” said Angela Blaising of Hyatt. “We appreciated their expertise and quick execution on financing this transaction.”

“Songy and Hyatt are great clients and we look forward to continuing to work with them,” said Patrick Burns, Executive Vice President at Citizens Bank. “Providing construction financing is one of the ways that Citizens meets our clients’ needs.”

Citizens’ Commercial Real Estate Finance team provides project finance loans of more than $25 million, focusing on building relationships with strong commercial real estate sponsors located in the bank’s market coverage. Citizens makes loans for multifamily, office, retail, industrial and hospitality properties. 

Citizens operates as a strategic and financial partner, offering deep expertise, great ideas and seamless deal execution. The Citizens Commercial Banking approach puts clients first, and offers solutions that help clients make the best decisions throughout the life cycle of their business.