This roundup features the latest financing of U.S. hotel industry deals and projects.
The Beekman Hotel, a Thompson Hotel by Hyatt
Lender: Bank OZK, brokered by Newmark
Borrower: GFI Capital Resources
Location: New York, New York
Value: $130 million
Date of Loan: Feb. 1, 2022
Takeaway: The refinancing of the property also included $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.
Sheraton Hotel at the Bradenton Area Convention Center
Lender: Centennial Bank
Borrower: In Development Partners
Location: Palmetto, Florida
Value: $25 million
Date of Loan: Jan. 25, 2022
Takeaway:The financing will fund construction for the 252-key hotel.
Mission Pacific Hotel and Seabird Resort
Lender: Acore Capital, brokered by JLL
Borrower: S.D. Malkin Properties
Location: Oceanside, California
Value: $265 million
Date of Loan: Jan. 25, 2022
Takeaway: The new loan retires the construction financing for the 387-key resort complex, which opened in May 2021.
Hotel Vance
Lender: Canyon Partners Real Estate LLC
Borrower: BPM Real Estate Group
Location: Portland, Oregon
Value: $47.4 million
Date of Loan: Jan. 21, 2022
Takeaway: The property recently rebranded as part of Marriott's Tribute Portfolio.
JW Marriott Desert Springs Resort & Spa
Lender: Goldman Sachs Bank USA, brokered by JLL
Borrower: Kam Sang Company
Location: Palm Desert, California
Value: $128 million
Date of Loan: Jan. 18, 2022
Takeaway: The loan refinances existing debt for the 884-key resort that was set to mature in February 2022.
Stanley Campus and Fall River Village Resort
Lender: Driftwood Capital
Borrower: Grand Heritage Hotel Group
Location: Estes Park, Colorado
Value: $139 million
Date of Loan: Jan. 12, 2022
Takeaway: The loan funds the acquisition of the 89-key Fall River Village Resort and the refinancing of four lodging options at the historic Stanley Campus.
Moxy Portland Downtown Hotel
Lender: Sonnenblick-Eichner Company
Borrower: Graves Hospitality and KCB Real Estate
Location: Portland, Oregon
Value: $39 million
Date of Loan: Jan. 12, 2022
Takeaway: The loan pays off construction financing and closing costs as well as provides an interest reserve.
Four Seasons Hotel at RBC Gateway
Lender: PACE Loan Group
Borrower: United Properties
Location: Minneapolis, Minnesota
Value: $20 million
Date of Loan: Jan. 7, 2022
Takeaway: This marks the largest commercial property assessed clean energy loan to date in the state of Minnesota.