CoStar: Creativity is Key to Hotel Financing, Experts Say
Peachtree Group CEO Greg Friedman says creativity is becoming essential in hotel financing as borrowers increasingly turn to alternative capital in a higher-rate environment.
As interest rates continue to increase, banks and other financial institutions are peeling back from commercial real estate lending. But one Atlanta private equity firm is seeing an opportunity — even in the aftermath of the March bank collapses. Over the past 12 months, Peachtree Group has been “aggressive” in lending to groups unable to source debt for projects, CEO Greg Friedman said. The firm is also seeking to buy debt from financial institutions looking to reduce their exposure to commercial real estate.