Tallahassee, Fla. — Berkadia has secured $17.5 million in construction financing for a 143-key Hotel Indigo set to open as part of Urban Street Development’s FSU CollegeTown district near Florida State University in Tallahassee.
The master-planned project is home to 982 beds of student housing, 60,000 square feet of retail and restaurant space and two parking garages. Hotel Indigo is one of the final projects in the $125 million development’s pipeline. The hotel will include a restaurant and lobby bar with an edgy, contemporary design created by design firm ai3. Brad Williamson and Kyle Ryan of Berkadia secured the financing on behalf of Alan Hooper and Tim Petrillo of Urban Street.