애틀랜타 (2024년 1월 17일) — Peachtree Group 관계자는 오늘 샌디에이고에 본사를 둔 수직 통합 부동산 개발 및 관리 회사인 Baxter Hotel Group을 대신하여 캘리포니아 샌디에이고에 있는 263개의 객실을 갖춘 이중 브랜드 Home2 Suites (130개 키) 와 Tru by Hilton Hotel (133개 키) 개발을 위한 건설 대출 및 CPACE 파이낸싱으로 7천 3백만 달러를 조달했다고 발표했습니다.박스터는 이번 달에 16층짜리 이중 브랜드 호텔 건설을 시작할 계획이며 22개월의 건설 일정을 예상하고 있습니다.
Peachtree Group 팀은 3년 기간 동안 5,040만 달러의 변동 금리 건설 대출을 시작했으며, 25년 동안 상각된 2,260만 달러의 고정 금리 상업용 부동산 청정 에너지 (CPACE) 파이낸싱을 시작했으며, 이는 총 개발 비용의 64% 를 차지했습니다.
Peachtree의 수석 부사장 겸 호텔 오리진 및 CPACE 책임자인 Jared Schlosser는 “어려운 자금 조달 시장에서 CPACE를 추가함으로써 혁신적인 자본 스택을 실행할 수 있었습니다. 이를 통해 스폰서에게는 200베이시스 포인트의 이자율 스프레드를 절약하면서 건설 착공에 필요한 충분한 자본을 제공할 수 있었습니다.”
건설 예산에는 지진 개선, 조명, 건물 외피, HVAC, 배관 및 적격 소프트 비용을 포함하여 CPACE 적격 항목이 포함됩니다.
이 호텔은 1357 5th Avenue (1357 5th Avenue) 에 위치하며 단기 체류 고객 및 장기 체류 고객을 대상으로 지금까지 시장에서 충분한 서비스를 받지 못했던 신제품을 제공합니다.제안된 고품질 편의 시설은 일반적으로 서비스가 제한된 호텔에서는 볼 수 없습니다. 예를 들어 LEED (Leadership in Energy and Environmental Design) 인증을 획득하기 위한 지속 가능한 디자인, 1층 레스토랑, 샌디에이고 다운타운의 탁 트인 전망을 제공하는 레스토랑과 바가 완비된 옥상 수영장 등이 있습니다.
피치트리 그룹 소개
Peachtree Group은 다양한 상업용 부동산 자산 및 기타 벤처 포트폴리오를 통해 성장을 주도하는 투자 회사입니다.이 회사는 설립 이래로 총 시가 총액이 거의 93억 달러에 달하는 부동산 취득, 개발 및 대출에 중점을 두고 수백 건의 투자를 진행해 왔습니다.현재 Peachtree는 25억 달러 이상의 지분을 관리하고 있으며, 여기에 투자를 보호, 지원 및 확대하기 위한 서비스를 제공하고 있습니다.자세한 내용은 www.peachtreegroup.com을 참조하십시오.
연락처:
찰스 탈버트
678-823-7683
ctalbert@peachtreegroup.com
ATLANTA (August 18, 2024) – Peachtree Group (“Peachtree”) has originated the largest credit transaction in its history, closing a $176.5 million retroactive Commercial Property Assessed Clean Energy (“CPACE”) loan for Dreamscape Companies’ recently renovated 2,520-room Rio Hotel & Casino(“Rio”) in Las Vegas, Nev. The deal, finalized in less than 60 days, ranks among the largest CPACE financings ever completed in the United States.
The Rio, now under the Destinations by Hyatt brand, is a casino resort featuring two hotel towers, Ipanema and Masquerade, connected by a casino, restaurants and retail establishments. Renovations completed in 2024 included a full transformation of the Ipanema Tower guest suites, a reimagined casino floor and significant upgrades to multiple food and beverage venues. The comprehensive property improvement plan also delivered exterior enhancements, modernization of the central heating and cooling plant, electrical infrastructure upgrades and renovations to the convention center.
“This deal highlights an inflection point for CPACE, with some of the nation’s largest financial institutions consenting to its use because they see the clear benefit to the capital stack,” said Jared Schlosser, head of originations and CPACE for Peachtree. “By closing quickly on a marquee hospitality asset, we were able to strengthen the position of both the owner and its lenders.”
The CPACE loan retroactively funded the renovations enabling the owners to pay down their senior loan. Retroactive CPACE funding offers a distinct advantage by allowing 100% of the proceeds to be reimbursed for completed project costs.
“This transaction is not only a historic milestone for Peachtree Group, but also a testament to the ecosystem we have built over the past 18 years,” said Greg Friedman, managing principal and CEO of Peachtree. “Through our vertically integrated platform, deep expertise and disciplined approach, we have developed the infrastructure to be a leader in the private credit space. Our ability to deliver speed, creativity and certainty of execution positions us to provide capital solutions that create value for our investors and partners across market cycles.”
The CPACE market has surpassed $10 billion in cumulative U.S. originations in just over a decade, according to the C-PACE Alliance, with strong growth expected as more institutional owners and lenders recognize its value. “We see tremendous opportunity ahead for retroactive CPACE and its use in funding new commercial real estate development,” Schlosser said. “It’s an attractive alternative to more expensive forms of capital.”
Peachtree is one of the most active CPACE lenders in the country, with more than $1.5 billion in originations. The firm’s credit platform spans CPACE, bridge, mezzanine and construction lending, providing creative capital solutions across market cycles.
The hotel lending landscape continues to shift, shaped by rising rates, tighter equity, and the need for more creative capital structures.In this Hotel Business Magazine roundtable recap, Peachtree Group’s Michael Harper, President, Hotel Lending, and Jared Schlosser, Head of Credit Originations & Commercial CPACE, share insights on:
• Navigating the gap between buyer/seller expectations
• The growing role of private credit
• Structuring deals with CPACE, mezzanine, and hybrid financing
• Underwriting and execution in today’s higher-risk environment
Mergers & Acquisitions- Commercial Property Assessed Clean Energy, or CPACE financing, which allows commercial property owners to borrow money for energy efficiency, renewable energy generation, water conservation and other upgrade projects, is a growing market, and is largely being provided by private equity firms.
According to the CPACE Alliance, anon-profit that works to increase the volume of quality projects, this loan market is growing nicely (see chart below). The market hit over $10 billion in total originations by the end of 2024.
Jared Schlosser, the executive vice president and head of hotel originations and CPACE at Atlanta PE firm Peachtree Group, says the firm has averaged 25 percent year-over-year growth since it started CPACE lending at the end of 2019. He expects the market to grow as more states get access to CPACE.
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