Citizens Financial : Bank provides $41 million construction loan for new Hyatt House hotel

05/23/2017

NASHVILLE - Citizens Bank announced today 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 21 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.

For more information about real estate financing options and more from Citizens, visit theCitizens Commercial Banking website.

*The term 'Hyatt' is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $150.3 billion in assets as of March 31, 2017. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers 'bank better' with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides wealth management, mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.

Citizens operates through its subsidiaries Citizens Bank, N.A. and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found atwww.citizensbank.com.