This roundup features the latest financing of U.S. hotel industry deals and projects.
41 Economy Hotel Portfolio
Lender: Driftwood Capital/Driftwood Lending Partners
Value: $44.5 million
Location: Across the Southeast U.S.
Date of Loan: Aug. 22, 2022
Takeaway: Driftwood is providing mezzanine financing for the acquisition of 26 hotels and the refinancing of an additional 15. Starwood Property Trust provided the $226 million senior facility. The majority of the portfolio operates under G6 brands.
Stanly Ranch
Lender: Mack Real Estate Group, brokered by Newmark
Borrower: Mandrake Capital Partners and Nichols Partnership
Value: $235 million
Location: Napa Valley, California
Date of Loan: Aug. 31, 2022
Takeaway: The financing for the recently opened property also funded construction on 40 residential villas on the 712-acre property.
Hampton Inn & Suites
Lender: Hall Structured Finance
Borrower: K & K Hotel Group
Value: $15.3 million
Location: Shenandoah, Texas
Date of Loan: Aug. 30, 2022
Takeaway: The construction loan marks the sixth property HSF has financed in the Houston metro area.
The ROOST Apartment Hotel
Lender: Hall Structured Finance, brokered by CBRE
Borrower: Method Co.
Value: $38.7 million
Location: Charleston, South Carolina
Date of Loan: Aug. 23, 2022
Takeaway: The financing covers the construction of the extended-stay, boutique apartment hotel, which will open in early 2024.
Hotel AKA Back Bay
Lender: Oxford Properties Group, brokered by JLL Hotels & Hospitality Group
Borrower: Electra America Hospitality Group
Location: Boston
Date of Loan: Aug. 22, 2022
Takeaway: The 225-room property is the former Loews Boston Hotel.
Holiday Inn & Suites Albuquerque
Lender: A life insurance company, brokered by PMZ Realty Capital
Value: $9 million
Location: Albuquerque, New Mexico
Date of Loan: Aug. 4, 2022
Takeaway: The loan covers the acquisition of the property and its $3.5 million property-improvement plan.