This roundup features the latest financing of U.S. hotel industry deals and projects.
Margaritaville Resort Fort Myers Beach
Lender: Stonehill
Borrower: TPI Hospitality
Location: Fort Myers Beach, Florida
Value: $104 million
Date of Loan: Sept. 8, 2021
Takeaway: The construction loan has a 42-month initial term with two extensions and covers roughly 70% of the project's cost.
TownePlace Suites
Lender: Arriba Capital
Location: Salt Lake City, Utah
Value: $15.7 million
Date of Loan: Aug. 31, 2021
Takeaway: The project includes a $13.1 million ground up construction loan and $2.6 million in C-PACE financing, both arranged by Arriba.
The Partridge Inn Augusta, Curio Collection by Hilton and Holiday Inn Express Charleston Downtown — Medical Center
Lender: PMZ Realty Capital
Borrower: Rio Partners
Location: Augusta, Georgia (Partridge Inn) and Charleston, South Carolina (Holiday Inn)
Value: $70 million
Date of Loan: Aug. 31, 2021
Takeaway: The proceeds were used to pay off existing debt and upgrade the two hotels.
Dual-brand SpringHill Suites/Element Hotel
Lender: Hall Structured Finance
Borrower: A joint venture between Olive Real Estate Group, Hotel Equities, Hotel Operations Services and Colarelli Construction.
Location: Colorado Springs, Colorado
Value: $55.6 million
Date of Loan: Aug. 24, 2021
Takeaway: The first lien loan covers the construction of the hotel, which will be managed by Hotel Equities when it opens in early 2022.
The Printing House, a Tapestry by Hilton
Lender: The LCP Group, L.P.
Borrower: Sun Development & Management Corp.
Location: Nashville, Tennessee
Value: $42.25 million
Date of Loan: Aug. 26, 2021
Takeaway: LCP partnered with Safanad Limited on the origination of the construction financing and syndicated a senior tranche to Knighthead Funding, LLC.