US Hotel Active Lenders: Westin Construction in Georgia Gets $75 million

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By Sean McCracken, Hotel News Now

July 21, 2022

This roundup features the latest financing of U.S. hotel industry deals and projects.

The MC Hotel, an Autograph Collection by Marriott
Lender: Hall Structured Finance
Borrower: A joint venture of The Hampshire Companies and The Pinnacle Companies
Value: $45.5 million
Location: Montclair, New Jersey
Date of Loan: July 19, 2022
Takeaway: The first lien bridge loan refinanced the construction financing for the property and funded the acquisition of an adjacent restaurant site.

Westin Gwinnett
Lender: Acres Capital
Borrower: Concord Hospitality
Value: $74.75 million
Location: Duluth, Georgia
Date of Loan: July 18, 2022
Takeaway: The funding aids the construction of the 348-room property.

Dual-Brand Fairfield Inn and Townplace Suites by Marriott
Lender: Hall Structured Finance
Borrower: EKN Development
Value: $24.5 million
Location: Tempe, Arizona
Date of Loan: July 18, 2022
Takeaway: The first lien loan is for the construction of the 148-key dual-brand property.

12 Hotel Extended-Stay Portfolio
Lender: Stonehill
Borrower: Churchwick Partners
Value: $79.8 million
Location: Various markets
Date of Loan: July 6, 2022
Takeaway: The financing is for the acquisition of the 12 hotel, 1,432-room portfolio, which includes eight Sonesta ES Suites properties.

Days Inn
Lender: Mag Mile Capital
Value: $8.6 million
Location: Baltimore, Maryland
Date of Loan: June 27, 2022
Takeaway: The non-recourse bridge loan for the 250-room property has a three-year term with two one-year extensions.

Home2 Suites by Hilton and Courtyard by Marriott
Lender: Hall Structured Finance
Borrower: American Hospitality Services
Value: $40.5 million
Location: Woodland, California
Date of Loan: June 23, 2022
Takeaway: The construction financing is for the two adjacent properties, which are being developed together.

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