hotel lending
Chris Martin Joins Avison Young Hospitality Group
Avison Young | February 23, 2021
ATLANTA – February 23, 2021 – Avison Young Hospitality Group announces that Chris Martin has joined the firm in its Tampa office. Keith Thompson said, “Chris Martin has joined our team from another brokerage firm, and we could not be more pleased. He comes to us with a deep hospitality background and a well-respected reputation in the hotel industry.” Chris J. Martin is an Investment Hotel Broker with Avison Young’s Hospitality Division. During his career, Chris has underwritten and modeled almost $4 Billion worth of hotel properties across the United States, providing him with an accurate forecasting and valuation mindset tha...
Hotel Lawyer: PACE Financing – Now an Accepted Tool for Hotel Lenders and Borrowers
Jim Butler | February 22, 2021
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors or www.HotelLawBlog.com Hotel finance lawyer: PACE Financing is now mainstream About five years ago, my partner David Sudeck, a senior member of JMBM’s Global Hospitality Group®, spoke at a hotel industry conference about the attractive features of PACE financing as an innovative financing technique. David has extensive experience with virtually all kinds of real estate financing from senior debt to joint ventures. At the time, he had just finished working on a hotel financing that included components of a senior construction loan from a private lender, Mello ...
Sonnenblick-Eichner Company Arranges $30,500,000 of First Mortgage Financing for Little Palm Island Resort & Spa, Florida Keys, Florida
Sonnenblick-Eichner Company | January 12, 2021
Beverly Hills, California – – Sonnenblick-Eichner Company announced today that it has arranged $30,500,000 of interim first mortgage financing for Little Palm Island Resort & Spa, an iconic 30-suite, full service, luxury resort located in Little Torch Key, Florida. The loan refinanced a recently matured fixed rate loan and closed within 30 days of application. Mast Capital and RWN Management provided the financing. The Resort is located on an exclusive 4.12-acre private island in the world famous Florida Keys. Accessibility to the Resort is by private boat from Little Torch Key, located approximately 3 miles to the north. Am...
Access Point Financial Provides FF&E Financing for Aloft Omaha Aksarben Village
Access Point Financial | November 23, 2020
Recognized leader in hospitality-focused lending closes loan for the property’s furniture, fixtures, and equipment during construction OMAHA, Neb. - November 23, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Center 60 Hospitality to finance the furniture, fixtures and equipment at the recently built Aloft Omaha Aksarben Village in Omaha, Nebraska. Center 60 Hospitality sourced Access Point Financial to secure a $450,000 loan to finance the hotel's furniture, fixtures, and equipme...
Paramount Capital Advisors Secures $9.2MM Loan for Hotel Development
Paramount Capital Advisors | November 17, 2020
Paramount Capital Advisors is pleased to announce the closing of a $9,200,000 construction loan for the development of the 135 room Hampton Inn and Suites in Goddard, Kansas. The Property will be part of the Genesis Sports Complex, which when complete, will consist of 10 baseball fields hosting baseball and softball tournaments, an Aquatic Facility which will include pools for competition, as well as a water park, surfing machine, lazy river plus a 12,000 sq. ft. Health Club. The loan represents approximately 50% of the total cost of the project. The three-year construction loan was priced at a spread of 350 basis points over a Libor floor...
Critical Components of an Effective “Order to Appoint a Receiver” – From the Lender’s Perspective
Victoria 'Vicki' S Richman | September 17, 2020
By Vicki Richman It is inevitable – many hotels will go into receivership and/or foreclosure in the coming months. Some owners cannot afford to fight any longer, some lenders cannot kick the can down the road any longer, or any number of other reasons will start them down this path. Receiverships can be extremely beneficial to the lender or they can be problematic. The three tools central to establishing a receivership which is beneficial to the lender are: 1) the right Receiver 2) the right Receiver’s attorney, and 3) a strategically drafted “Order to Appoint a Receiver.” This article addresses the third tool in a lender’s to...
From Density to Distancing
H. Keith Thompson | May 12, 2020
By H. Keith Thompson, Principal Avison Young Hospitality Group Ten short weeks ago, business was about packing in as much density with as many people as possible. From hotels, conventions, sports venues, air travel, resorts, retail, and office buildings - down to going to a Costco. Now, ten weeks later, it is all about staying separate and distancing yourself from other people. How can this be possible? Because COVID-19 (‘CV”) has caused a shift in the paradigm of personal life and commercial life that no one saw coming. Ten weeks in, we now judge every face-to-face interaction differently than we used to. Behind closed doors, al...
Access Point Financial Secures $9.2 Million Loan for Delta by Marriott, Green Bay
Access Point Financial | April 6, 2020
Recognized leader in hospitality-focused lending completes full loan funding in just 15 days amid coronavirus outbreak GREEN BAY, WIS. - April 3, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Lodging Opportunity Fund REIT (LOF REIT) to refinance the Delta by Marriott in Green Bay, WI. LOF REIT worked with Access Point Financial to secure a $9.2 million loan on the property. The REIT chose APF as its lending partner due to the company’s ability to be nimble when working with a limited...
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