(Corrected on Jan. 7 to use First Hospitality's official company name.)
This roundup features the latest financing of U.S. hotel industry deals and projects.
Two Generator Group US Hotels
Lender: Apollo
Borrower: Queensgate Investments
Value: $55 million
Location: Miami and Washington, D.C.
Date of Loan: Dec. 8, 2021
Takeaway: Queensgate also recently refinanced €600 million [$677 million] in debt for for it's 19-hotel Generator Group portfolio.
A Hilton Garden Inn Hotel Near Denver International Airport
Lender: Stonehill/Black Bear Capital Partners
Value: $22.9 million
Location: Aurora, Colorado
Date of Loan: Dec. 16, 2021
Takeaway: The financing is for the acquisition of the Hilton Garden Inn property.
Waterstone Resort & Marina Boca Raton, Curio Collection by Hilton
Lender: Brokered by JLL Hotels & Hospitality Group
Borrower: Newbond Holdings
Location: Boca Raton, Florida
Date of Loan: Dec. 15, 2021
Takeaway: JLL both represented the seller and arranged acquisition financing for the Waterstone.
Future Hotel Indigo Property
Lender: Twain Financial Partners
Borrower: Kothe Real Estate Partners, KP Property Development and Great Lakes Management Group
Location: Downtown Minneapolis, Minnesota
Date of Loan: Dec. 14, 2021
Takeaway: The funding, which includes commercial-PACE financing, will be used to renovate and convert a former Crowne Plaza on the Northstar campus into a 218-room Hotel Indigo.
Hotel Leveque, Autograph Collection by Marriott
Lender: Access Point Financial
Borrower: First Hospitality
Value: $23 million
Location: Columbus, Ohio
Date of Loan: Closed before Dec. 14, 2021
Takeaway: The loan was to refinance the property.
A Dual-Brand Holiday Inn & Voco by IHG
Lender: Access Point Financial
Borrower: Murphy Development Group
Value: $34.74 million
Location: Chicago
Date of Loan: Closed before Dec. 14, 2021
Takeaway: The financing was used to acquire the Holiday Inn River North at the Mart and convert it to a dual-brand concept.
Holiday Inn Express & Suites
Lender: Access Point Financial
Borrower: Rolling Hills Hospitality
Value: $15.7 million
Location: Louisville, Kentucky
Date of Loan: Closed before Dec. 14, 2021
Takeaway: The senior loan was for the acquisition of the hotel and part of $730 million in loan production from Access Point since April 1.
Tryp by Wyndham
Lender: Access Point Financial
Borrower: Century Group
Value: $16.4 million
Location: Pittsburgh, Pennsylvania
Date of Loan: Closed before Dec. 14, 2021
Takeaway: The senior and mezzanine financing was for the refinancing of the property.
Four WoodSprings Suites Hotels
Lender: Access Point Financial
Borrower: A joint venture between Whitman Peterson and Concord Hospitality
Value: $31.8 million
Date of Loan: Closed before Dec. 14, 2021
Takeaway: The financing is for the development of the four extended stay properties.
Sierra Nevada Resort and Spa
Lender: Brokered by RobertDouglas
Borrower: Waterton
Value: $30 million
Location: Mammoth Lakes, California
Date of Loan: Dec. 15
Takeaway: The floating-rate, non-recourse senior mortgage was for the acquisition and renovation of the resort.
EAST Miami
Lender: Brokered by CBRE
Borrower: A joint venture between an affiliate of Trinity Real Estate Investments and Certares Real Estate Management
Value: $120.1 million
Location: Miami, Florida
Date of Loan: Dec. 6, 2021
Takeaway: The hotel is part of the $1.1 billion mixed-us Brickell City Centre development.