This roundup features the latest financing of U.S. hotel industry deals and projects.
Fairmont San Francisco
Lender: United Overseas Bank brokered by JLL Hotels & Hospitality
Borrower: An affiliate of Mirae Asset Global Investments
Value: $150 million
Date of Loan: December 2, 2020
Takeaway: The non-recourse loan is for a five-year term.
Hilton Garden Inn Albany
Lender: PMZ Realty Capital
Borrower: Rio Partners, LLC
Value: $12 million
Date of Loan: April 27, 2021
Takeaway: The non-recourse loan was used to pay off a mature fixed-rate CMBS loan on the 122-room property.
Motel 6/Studio 6 Portfolio in Southeast US
Lender: F10
Value: $16 million
Date of Loan: May 5
Takeaway: The fixed-rate CMBS loan closed in 38 days and is billed as one of the first new hotel CMBS loans since the onset of the COVID-19 pandemic.
An Unnamed Independent Hotel in Sedona, Arizona
Lender: Arriba Capital
Value: $12.5 million
Date of Loan: May 25, 2021
Takeaway: The cash-out refinancing was used to fund the purchase of a parcel adjacent to the property and the future expansion of its spa.