Hotel Indigo set to open new location in MidCity

After developers finalized a bridge loan of $20.5 million, the long-awaited opening of the newly completed Hotel Indigo at MidCity is right around the corner.

The 112-key hotel is expected to start operations in the next few weeks.

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Hotel Indigo to begin operations

The short-term loan refinances a construction loan that the borrower, ViaNova Development, used to build the five-story hotel, which includes Huntsville-inspired decor. 

The property has been granted a certificate of occupancy and is expected to open to guests over the next few weeks. The Indigo features an on-site restaurant (The Indie), modern meeting space, a fitness center and is pet-friendly. 

Chattanooga-based ViaNova Development and Kentucky-based Buffalo Construction built the hotel. ViaNova Development was issued the building permit exactly two years ago.

The hotel is located at 940 Nunnuhsae Pk Dr NW, Huntsville, AL 35806.

The Forman Capital team that worked on the transaction, which closed on March 31, includes Ben Jacobson, Scott Mehlman, Ty Regnier and Cameron Fleury.

“We are bullish on high-quality, limited and select-service hospitality assets in growing markets with strong fundamentals. ViaNova Development delivered a well-executed project and we are pleased to provide financing that supports the property’s next phase. We look forward to building a strong relationship with the sponsor.”

Brett Forman, Forman Capital Managing Partner

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