This roundup features the latest financing of U.S. hotel industry deals and projects.
Graduate Auburn
Lender: Southern States Bank, brokered by JLL's Hotels & Hospitality Group
Borrower: Adventurous Journeys Capital Partners
Value: $40 million
Location: Auburn, Alabama
Date of Loan: Nov. 15, 2022
Takeaway: The five-year, floating-rate loan will finance the ground-up construction of the hotel at Auburn University.
A Portfolio of Hyatt Place Hotels
Lender: Access Point Financial
Borrower: HKB Hotel Group
Value: $56.8 million
Location: Across the Southern U.S.
Date of Loan: Nov. 18, 2022
Takeaway: The financing includes $15.5 million for capital expenditures and an interest reserve on top of the acquisition. The hotels in the 754-room portfolio are: The Hyatt Place Atlanta/Alpharetta/North Point Mall in Alpharetta, Georgia; the Hyatt Place Charlotte/Arrowood in Charlotte; the Hyatt Place Dallas/Park Central in Dallas; the Hyatt Place Greenville/Haywood in Greenville, South Carolina; the Hyatt Place Roanoke Airport/Valley View Mall in Roanoke, Virginia; and the Hyatt Place Topeka in Topeka, Kansas.
Doubletree by Hilton Los Angeles-Commerce
Lender: An international money-center bank, brokered by Sonnenblick-Eichner Company
Value: $22 million
Location: Commerce, California
Date of Loan: Nov. 29, 2022
Takeaway: The five-year refinancing carried a 5.9% fixed interest rate and was used to pay off a maturing CMBS loan.