Charlotte, N.C., October 13, 2022 — Canyon Partners Real Estate LLC (“Canyon”) today announced it has provided a $51.5 million senior loan to Montford Group for the construction of a 13-story, 208-room Moxy Hotel located in Charlotte, North Carolina. Moxy Charlotte is scheduled to open in September 2024. The project represents Canyon’s second transaction with Montford Group and its third Moxy Hotel financing.
Located in Uptown Charlotte, only one block from two major mass transit systems, Moxy Charlotte will sit at the center of the city’s business, sports, and entertainment venues. As an established financial hub with a growing technology workforce, the city is home to the corporate headquarters of nine Fortune 500 and 18 Fortune 1000 companies, as well as the main offices of three of the nation’s largest banks.
“Uptown Charlotte continues to benefit from a strong business environment, with several corporate expansions and relocations bringing traveling professionals to the city. This level of positive activity lays the path for long-term demand for centrally located hospitality assets,” said Sunju Patel, Co-Founder and Managing Partner of Montford Group. “We are pleased to work with Canyon again to provide a strong offering for professionals both visiting and living in Charlotte.”
“With over two million square feet of office space under construction or recently delivered in Uptown Charlotte and employees at major companies in the region returning to in-person work, Moxy Charlotte is perfectly placed to accommodate the upcoming influx of activity,” said Glenn Alba, Co-Founder and Managing Partner of Montford Group. “This project is well-timed in such a dynamic and flourishing city.”
Amenities at Moxy Charlotte will include a rooftop terrace, a Starbucks coffee shop, and a bar on the top floor. The hotel will be managed by Aimbridge Hospitality and will benefit from Marriott’s Bonvoy loyalty program, with over 160 million members.
