Commercial Observer: Peachtree Refis Memphis Hyatt Hotel Property With $51MM Loan
Featured in Commercial Observer - Peachtree Group supplied the three-year, floating rate loan for the developer’s 227-room Hyatt Centric and 136-key Caption by Hyatt.
The transaction market in the hotel industry has hit a stalemate over the past couple of years, with high borrowing costs sinking property values and regional and small banks struggling to originate debt. There is still opportunities to be had in this environment, though. Peachtree Group has deployed more than $1 billion in commercial real estate investments year to date, including $526 million to acquiring five hotels and three new development hotel projects.