This roundup features the latest financing of U.S. hotel industry deals and projects.
Adjacent Home2 Suites by Hilton and Courtyard by Marriott Properties
Lender: Arriba Capital
Location: Woodland, California
Value: $40.5 million
Date of Loan: June 20, 2022
Takeaway: The three-year, ground-up construction loan came in at 80% loan-to-cost.
TownePlace Suites by Marriott Nashville Downtown/Capitol District
Lender: Knighthead Funding
Location: Nashville, Tennessee
Value: $37.6 million
Date of Loan: June 20, 2022
Takeaway: The five-year, non-recourse loan refinances the construction financing for the property.
Two Hotels in Los Angeles
Lender: Wilshire Quinn Capital
Location: Los Angeles, California
Value: $16 million
Date of Loan: June 16, 2022
Takeaway: The refinancing covers a Ramada by Wyndham near Los Angeles International Airport and an independent hotel in Korea Town.
Moxy Oakland Downtown
Lender: ACORE Capital, brokered by Sonnenblick-Eichner Company
Borrower: Tidewater Capital, Graves Hospitality and EJF Capital
Location: Oakland, California
Value: $35 million
Date of Loan: June 14, 2022
Takeaway: The non-recourse funding was used to refinance the initial construction loan on the property.
The Beachview Club Hotel, a Tapestry Collection by Hilton Property
Lender: Brokered by PMZ Realty Capital
Location: Jekyll Island, Georgia
Value: $30 million
Date of Loan: June 9, 2022
Takeaway: The financing will be used to recapitalize and expand the property.
A Corporate Owned Motel 6 Hotel
Lender: Brokered by Black Bear Capital Partners
Borrower: A private investor
Location: San Jose, California
Value: $27.5 million
Date of Loan: June 7, 2022
Takeaway: The financing covers the acquisition of the Motel 6 property from Blackstone.