Originates a $102.9 million bridge mortgage, marking a major milestone within the agency’s historical past.
ATLANTA – Peachtree Group, a diversified industrial actual property funding agency, introduced it has closed roughly $660 million in credit score investments since Dec. 1, 2023, with a further $350 million anticipated closing over the following 30 to 45 days.
The credit score investments primarily embody originations for lodges, multifamily, industrial and pupil housing.
In February, Peachtree closed one of many largest particular person credit score transactions within the agency’s historical past with a $102.9 million three-year mortgage to recapitalize a 350‐room Marriott dual-brand AC Lodge Sunnyvale Moffett Park and TETRA Lodge, Autograph Assortment in Sunnyvale, Calif.
“We’re witnessing heightened exercise in response to the anticipation of sustained elevated rates of interest and continued reductions in financial institution publicity. The urgent must refinance maturing debt, estimated at $2.8 trillion in U.S. industrial actual property debt by the tip of 2028, is a rising concern. Business actual property stakeholders are grappling with the challenges of elevated capital prices and constrained liquidity, notably in securing capital for acquisitions, recapitalizations and growth initiatives,” mentioned Greg Friedman, Peachtree Group’s managing principal and CEO.
Peachtree Group Credit score, previously Stonehill, ranked because the eighth largest U.S. industrial actual property resort lender by the Mortgage Bankers Affiliation in its final mortgage origination rankings. As a direct industrial actual property lender, it provides everlasting loans, bridge loans, mezzanine loans, industrial property-asset clear power (CPACE) financing and most popular fairness investments throughout all industrial actual property sectors, with its origins within the hospitality business.
Different notable credit score transactions closed over the previous 90 days:
- $40.8 million first mortgage mortgage for the development of a dual-branded Residence Inn and Home2 Suites in Montgomery, Ala.
- $46.0 million in Business Property Assessed Clear Vitality (“CPACE”) financing for the Thompson Lodge in Palm Springs, Calif.
- $36.2 million first mortgage mortgage for Courtyard by Marriott in Chevy Chase, Md.
- $40.6 million first mortgage mortgage for Home2 Suites in Charlotte, N.C.
- $34.5 million first mortgage mortgage for a multifamily complicated in Gainesville, Fla.
- $17.5 million first mortgage mortgage for pupil housing in Athens, Ga.
Vicky is the co-founder of TravelDailyNews Media Community the place she is the Editor-in Chief. She can be chargeable for the each day operation and the monetary coverage. She holds a Bachelor’s diploma in Tourism Enterprise Administration from the Technical College of Athens and a Grasp in Enterprise Administration (MBA) from the College of Wales.
She has a few years of each educational and industrial expertise inside the journey business. She has written/edited quite a few articles in varied tourism magazines.
