Hotel Indigo Sarasota
Peachtree Group Hospitality Management increased NOI by 65%
Property Type
Hotel
Investment Type
Hospitality Management
Brand
IHG
Date of Investment
Location
Sarasota, FL
Keys
95
Units
Square Footage
Loan Type
Loan to Value
Loan to Cost
Total Origination
Control Provisions
Peachtree Group structured the investment with significant control provisions in the event of default. The sponsor was removed, Peachtree Group's Hospitality Management stepped in, and its team increased NOI by 65% before its sale.
Proximate to Demand Drivers
The hotel is close to downtown shops, businesses and arts and cultural centers.
Strong Basis
$153K/per key compared to the estimated value of $213K/per key. Before investing, Peachtree Group pursued the acquisition of the hotel but lost out to a "top of the market" buyer due to our stringent underwriting standards.
Related
Case Studies
Read about similar projects Peachtree Group has executed
