Peachtree originates $114.6MM in loans for two Hyatt hotels

Peachtree Group has originated $114.6 million in bridge loans to recapitalize two Hyatt hotels owned by McWhinney: Hyatt Centric Congress Avenue Austin, Texas, and Hyatt Place Denver Peña Station in Denver. The company originated a 48-month floating-rate bridge loan for the 246-room Austin hotel and a 60-month fixed-rate bridge loan for the 226-room Denver hotel.

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For the 246-room Hyatt Centric hotel, Peachtree originated a floating-rate bridge loan with a 48-month term. Located in downtown Austin, the hotel has excellent demand drivers. It is adjacent to the Paramount Theater and near Moody Center, South by Southwest and Austin City Limits.

The property was acquired by McWhinney in October 2019 and opened in February 2023.

For the 226-room Denver hotel, Peachtree originated a fixed-rate bridge loan with a 60-month term. The property is located in Denver’s East/Airport lodging market, near the 61st & Peña RTD commuter station connecting guests directly to downtown Denver and Denver International Airport.

Opened in late 2019, the hotel’s stabilization was delayed by the pandemic’s impact on the hospitality industry. The recapitalization loan provides McWhinney additional time and resources to stabilize performance and maximize the property’s potential.

Peachtree Group is recognized as an industry-leading real estate lender with expertise in originating and closing complex hospitality transactions. With funding options from traditional lenders limited for hotels and other commercial real estate properties, we were pleased to provide McWhinney with the lending solutions, the financial capacity and the hospitality expertise to close this transaction in a challenging capital market environment.

Peachtree Group is the seventh-largest U.S. commercial real estate investor-driven lender, according to the Mortgage Bankers Association’s latest loan origination rankings. As a direct lender, it offers permanent loans, bridge loans, mezzanine loans, CPACE financing, and preferred equity investments across all commercial real estate sectors.