$20 Million Secured for Charleston, SC Element Hotel Construction
Details:
Element by Westin
Lender: Hall Structured Finance, brokered by Arriba Capital
Borrower: Contender Development
Location: Charleston, South Carolina
Value: $20 million
Date of Loan: June 21
Takeaway: The construction loan was Arriba’s second in a two-week period. The other was a $16.6 million loan for a Hyatt Place in rural Tennessee. The Element, located near the Charleston International Airport, is slated to open in 2025.
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