Kiawah River Hospitality Group secured a $53 million construction loan for Dunlina luxury hotel near downtown Charleston, South Carolina, Commercial Observer has learned. united bank provided the loan.
Newmarkit’s Jordan Roschlaub, Dustin Stolly and Nick Scribani negotiated debt.
Located at 33 Reed Blvd., The Dunlin is a 72-room, five-star luxury hotel located on the waterfront in the residential resort community of Kiawah River on Johns Island, South Carolina. The planned property will consist of 72 cottage suites and will include a restaurant, salon and spa, as well as over 10,000 square feet of event space and a 5,200 square foot wedding venue.
The hotel is the newest addition to the Inn Resorts Collectionof the portfolio of hotels, resorts and residences of and is expected to open in 2024.
“The lending community was able to grasp the sponsor’s vision,” Stolly said. “The development’s coastal appeal, connection to natural elements and proximity to downtown Charleston highlight crucial demand drivers in the resurgence of the hospitality market.”
“The Auberge Resorts Collection brand is recognized globally for its world-class projects and immersive experiences,” added Roeschlaub. “The Dunlin is a testament to the lender’s appetite for unique product offerings in a fiercely competitive market.”
Kiawah River Hospitality Group and United Bank officials did not immediately respond to requests for comment.
Emily Fu can be reached at [email protected].