Dallas-based Hall Structured Finance closed on a first lien construction loan totaling $60.25 million to develop The Ballad Hotel, a Tapestry Collection by Hilton property, in Clearwater, Fla. The project sponsor is The DeNunzio Group, LLC. The deal was brokered by Clint Frease and Tyler Dumon of Newmark.
The Ballad Hotel will be a 10-story, 158-key, full-service hotel featuring a lobby bar, sundry shop, outdoor pool, fitness center and rooftop restaurant and lounge. The project will also have ground-level retail, including space for a high-end restaurant, salon, or wellness concept, along with a two-story standalone building designed to accommodate two additional restaurant tenants and other retail opportunities.
The project is located in Clearwater adjacent to Coachman Park, a waterfront public park along the Intracoastal Waterway that features a marina and the recently built BayCare Sound Amphitheatre for concerts and community events. The site is also part of the “Bluffs” development which will include a 400-unit high-rise multifamily component.
“Clearwater continues to emerge as one of Florida’s most compelling hospitality and mixed-use markets, driven by strong tourism demand and significant public investment,” Allyson Van Blarcum, loan originator and vice president at HSF, said in a statement. “The Ballad Hotel’s premier location adjacent to Coachman Park and its integration with the broader Bluffs development position it to be a transformational asset for Clearwater.”
The DeNunzio Group was founded in 2005 by Dustin J. DeNunzio, with offices in Palm Harbor, Fla. and Cambridge, Mass. The company specializes in mixed-use and hotel developments in the greater Boston market and in the Clearwater and St. Petersburg markets.
“The Ballad Hotel represents the next chapter of thoughtfully designed hospitality in Clearwater—one that reflects the city’s momentum, its evolving waterfront identity, and the demand for high-quality, experience-driven accommodations,” said DeNunzio. “We’re excited to see this development contribute to Clearwater’s continued growth as a premier destination.”