将资本与战略相匹配:以酒店业为重点的贷款在行动

文章最初在 HotelBusiness.com 上发表

私人信贷机构越来越多地踏入了传统银行留下的空白,但并非所有银行都是一样的,尤其是在酒店业方面。对于像ARK Holdings这样的赞助商来说,这是一家经验丰富的酒店运营商,其投资组合专注于佛罗里达州,寻找一个了解酒店运营细微差别和当今资本市场复杂性的资本合作伙伴至关重要。

定制贷款结构

Peachtree集团最近通过佛罗里达州塔拉哈西的两笔过桥贷款,展示了其构建灵活的、与赞助商一致的融资解决方案的能力:为拥有122间客房的汉普顿酒店及套房提供1740万美元的浮动利率过桥贷款,为拥有99间客房的希尔顿花园酒店提供1,275万美元的固定利率过桥贷款。ARK Holdings拥有这两处房产,这些交易是Peachtree的多个资本领域如何允许根据商业计划、市场状况和赞助商目标进行定制结构的案例研究。

案例研究:汉普顿酒店及套房

对于汉普顿酒店及套房,Peachtree提供了三年期浮动利率贷款,包括两个12个月的延期选项,非常适合最近于2024年9月完成了数百万美元PIP的房产。赞助商将使用该术语来稳定业绩,并计划将再融资转化为永久融资。浮动结构为从市场利率变动中受益提供了灵活性,也符合重新定位策略的短期性质。

案例研究:希尔顿花园酒店

相比之下,希尔顿花园酒店获得了为期五年的固定利率贷款,该结构旨在支持2024年8月完成更大规模的翻新工程后的长期资产管理和现金流的确定性。由于这两项资产在同一个赞助商下运营且彼此相邻,ARK Holdings将通过共享管理和运营来节省成本,从而提高整体业绩。

为什么体验很重要

这两笔贷款都反映了Peachtree对塔拉哈西市场的信念,该市场有望受益于与政府相关的旅行和企业需求的恢复。预计市场ADR将随着通货膨胀而增长,预计两家酒店的表现都将超过其业绩, 这证明了赞助商的运营实力和资本投资。

更重要的是,这些协议反映了以酒店业为重点的私人信贷的更深层次真相:体验很重要。Peachtree在酒店所有权和运营方面的深厚根基使其能够在考虑品牌标准、PIP时间表和市场季节性的情况下,在电子表格之外进行承保。这种理解可以加强与赞助商的一致性,并在整个贷款生命周期中更好地执行。

在资本市场保持选择性的时代,拥有一家不仅提供资本而且了解酒店实际运作方式的贷款机构是无价之宝。对于正在制定大量翻新业务计划或管理复杂投资组合的赞助商来说,与像Peachtree Group这样带来运营知识和灵活资本的贷款机构合作是一种战略优势。在一个一刀切的融资不再起作用的市场中,Peachtree的方法证明,根据商业计划量身定制资本不仅是明智的;而且至关重要。

桃树集团

桃树集团 是一家直接资产负债表贷款机构,专注于为首次抵押贷款过渡贷款、夹层贷款、优先股投资和商业地产评估清洁能源(CPACE)融资提供资金。贾里德·施洛瑟负责Peachtree的酒店创业平台及其CPACE计划。

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为什么贷款机构需要安慰信才能进行品牌酒店融资

投资特许经营酒店是分散投资组合并在很长一段时间内获得可观回报的好方法。安慰信旨在为贷款人和特许经营者提供法律框架,以处理酒店购买者拖欠贷款的情况。以下是投资者应该了解的有关安慰书的一些事实。

投资特许经营酒店是分散投资组合并在很长一段时间内获得可观回报的好方法。寻找合适的酒店融资选择可以使此次收购更有利可图。安慰信旨在为贷款人和特许经营者提供法律框架,以处理酒店购买者拖欠贷款的情况。以下是投资者应该知道的一些事实 慰问信

什么是安慰信?

安慰信是允许贷款人使用的文件 承担特许经营权 如果原始加盟商拖欠贷款。这些信函包括确保在特许经营酒店贷款违约或丧失抵押品赎回权的情况下,贷款人可以继续经营酒店的条款。

慰问信的好处

慰问信为参与交易的所有各方提供了多项好处,包括:

  • 如果贷款人更确定即使借款人违约,他们也能够收回投资,则借款人更有可能找到最具吸引力的酒店贷款安排。这可以改善这些贷款的条款,并可以更容易地获得收购特许经营物业所需的融资。
  • 贷款人可以通过确保维持所融资房产的盈利能力来更有效地抵押贷款。
  • 特许经营公司可以通过持续经营来保护自己的品牌名称,即使加盟商未能履行其财务义务并拖欠酒店贷款,也能保持其影响力。

许多贷款机构在敲定特许经营酒店物业的贷款之前都需要安慰信。

由特许经营公司精心制作

在大多数情况下,慰问信是由特许经营公司作为特许经营过程的一部分起草的。这些法律文件可能遵循标准化模板,也可以根据借款人和贷款人的需求进行定制。这封信的内容可能包括以下部分或全部条款:

  • 该条款确保贷款人能够在止赎程序中指定接管人短时间内运营酒店。
  • 该条款允许贷款人在特许经营协议终止之前纠正其任何违约行为。
  • 该条款允许在酒店违约时转售房产并将特许经营协议转让给第三方。

这些条款旨在保护酒店融资贷款违约时的贷款机构。

关于桃树集团

桃树集团 是一家专门从事酒店贷款的直接贷款机构。我们的发起人与美国各地的投资者合作,为他们的特定需求提供最实用的酒店融资安排。 立即联系我们 与我们的专业贷款发起人讨论您的财务需求。我们与您合作,为您的酒店融资需求提供最佳选择。

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Reviving Malls: Shifting Perspectives on Retail's Potential

Is mall still a four letter word? Retail, including malls is experiencing strong leasing momentum, but to be successful, retail investors need to consider these tips.

In today’s highly competitive and constantly evolving real estate market, sponsors of retail commercial properties need a reliable financial partner to help them navigate the complexities of this space. There is a perception that capital is non-existent for this sector, but that couldn’t be further from the truth. Peachtree Group Credit has emerged as an industry leader – ranking as the 16thlargest U.S. commercial real estate retail lender ranking as the 16th largest U.S. commercial real estate retail lender – providing creative financing solutions to help clients realize their vision for maximizing return on investment.

The fact is retail, including malls, is experiencing strong leasing momentum with increased foot traffic allowing sponsors to stabilize cash flow levels, which took a hit during the beginning of the COVID-19 pandemic. Brick-and-mortar retail locations are a necessary and growing component of a retailer’s multi-channel strategy. While traditional retail struggled before COVID, the pandemic has brought greater appreciation for in-store experiences for certain shopping items. This trend bodes well for retail as an investment.

To remain competitive, retail investors must accelerate their plans and expand their thinking to find ways to keep their retail locations relevant in a changing landscape.

Retail investors are looking at this sector with compelling strategies, including reimagining portions of the property to bring in new tenants, densifying the property by spinning off excess parking into pad sites or value-add components with a plan for re-leasing and some potential redevelopment opportunities.

Peachtree provides needed liquidity for maturing loans, new acquisitions and construction projects.

Some of the recent coast-to-coast mall transactions completed, include:

  • Bellis Fair Mall – Originating a$24.0 million first mortgage loan for the 774,264 square-foot shopping mall in Bellingham, Washington.
  • Cumberland Mall – Originating a$28.8 million first mortgage loan for the 953,313 square-foot shopping mall in Vineland, New Jersey.
  • Greenwood Mall – Originating a$42.3 million first mortgage loan for the 970,523 square-foot shopping mall in Bowling Green, Kentucky.
  • The Mall at Robinson – Originating a$25.5 million first mortgage loan for the 874,000 square-foot shopping mall in Pittsburgh, Pennsylvania.
  • TownCenter at Cobb – Originating a $42.0million first mortgage for a 1,200,000 square-foot shopping mall in Kennesaw, GA
  • Fairlane Town Center – Originating a $28.0million first mortgage for a 1,450,000 square foot shopping mall in Dearborn, MI

Peachtree actively collaborates with sponsors from the initial concept stage until closing, offering expedited financing explicitly tailored for their business, allowing all parties to achieve a best-in-class financial outcome. Throughout the process, Peachtree keeps up regular touchpoints, ensuring the transactions go smoothly. This further demonstrates Stonehill’s commitment to supporting sponsor capital strategies with execution certainty amid a highly unpredictable funding landscape, increasingly a critical variable impacting retail real estate acquisition competition outcomes.

Having access to an experienced lender can provide valuable expertise and guidance to help you with your investment. With specific retail knowledge, Peachtree can provide insights into effective strategies for success. At Peachtree, we have the expertise to guide you through your options.

 

Greg Koenig is a senior vice president at Peachtree Group Credit. Before joining Peachtree, he was an executive director at A large private equity firm, focusing on debt originations in all asset classes. Prior to that, Greg was a senior vice president at Newport RE, a German-based real estate investment company, focusing on acquisitions and asset management for its U.S. portfolio. Previously, he was a vice president at Rialto Capital, where he helped underwrite and asset-manage loan portfolios. Before joining Rialto, Greg worked at TriMont Real Estate Advisors facilitating loan workouts and maximizing returns on distressed assets. Greg holds a bachelor’s degree from the University of Connecticut, where he majored in Real Estate and UrbanEconomics.

Contact Greg at gkoenig@peachtreegroup.com or 1-860-833-2285.