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Lending Conditions Likely More Certain for Hotels in 2024

Greg Friedman
Managing Principal & CEO
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Peachtree CEO Greg Friedman was quoted in this recent CoStar Group article by Sean McCracken talking about the lending environment for hotels in 2024 and the opportunities for investor, operator, lenders like Peachtree Group.

"Most traditional lenders aren't lending," said Friedman. "Forty percent of the debt market is traditionally made up of regional banks, community banks, national banks, and it's been in the press that banks are under pressure. So 40% of the market is struggling, the CMBS market makes up close to 25% to 30% of lending to hotels and that market is well under pressure, as well."But he said what is left of the market is attracted to hotels due to "really good asset-level performance."

Lending Conditions Likely More Certain for Hotels in 2024 (costar.com)

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Peachtree Group Provides $34.5 Million Loan for Acquisition and Renovation of 312-unit Multifamily Property in Florida

ATLANTA (Feb. 2, 2024) – Peachtree Group announced the company originated a $34.5 million loan for the acquisition and renovation of a 312-unit multifamily property in Gainesville, Fla., on behalf of Coastline Management Groups (Coastline), a Hollywood, Fla. based service-oriented real estate management company. The property, Pavilion on 62nd, is a 25-building, 312-unit multifamily used previously for student housing.
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ATLANTA (Feb. 2, 2024) – Peachtree Group announced the company originated a $34.5 million loan for the acquisition and renovation of a 312-unit multifamily property in Gainesville, Fla., on behalf of Coastline Management Groups (Coastline), a Hollywood, Fla. based service-oriented real estate management company. The property, Pavilion on 62nd, is a 25-building, 312-unit multifamily used previously for student housing.

The Peachtree Group team originated the floating-rate bridge loan over a three-year term, representing 61% of the stabilized appraised value.

The multifamily property contains 31.74 acres and features two-, three- and four-bedroom units with onsite property management, two clubhouses, two swimming pools, workstation cubicles, a game room, a media room, rentable event room, a gym, indoor racquetball and half-court basketball, sand volleyball court, dog park and package receiving center.

Coastline will use approximately $5.0 million of the bridge loan proceeds to renovate unit interiors, convert four-bedroom units to three-bedroom units, expand the onsite amenities and complete deferred maintenance on exterior and common areas.

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About Peachtree Group

Peachtree Group is an investment firm driving growth with a diverse portfolio of commercial real estate assets and other ventures. We’ve executed hundreds of investments since inception with a focus on real estate acquisition, development, and lending. Today, we manage billions in equity, augmented by services designed to protect, support, and grow our investments.

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Peachtree Closes 15 loans totaling more than $315+MM in the last 90 days

Peachtree's lending team has closed 15 loans totaling more than $315+MM in the last 90 days.
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November 2024

Peachtree Group is a nationwide direct balance-sheet lender, offering competitive terms, in-house loan servicing, and flexible capital to handle a wide array of projects.

Peachtree provides full-stack debt capital solutions to qualified commercial real estate owners across all sectors throughout the U.S. We offer bridge, construction, mezzanine, preferred equity, CPACE, permanent and NNN financing.

See below for some of the most recent loan transactions from Peachtree Group including hotel loans, retail, multifamily, industrial, and land.

Need Financing? Contact us at lending@peachtreegroup.com.

Peachtree's lending team has closed 15 loans totaling more than $315+MM in the last 90 days.

Graphic dispalying closed deals from the last 90 days

Anatomy of the Deal is a new series where we sit down with senior leaders from Peachtree Group to dive deep into the intricacies of a deal they've led, exploring the strategy, challenges, and decisions that shaped its success.This week's episode we delve into Peachtree's $44MM Loan for The Benjamin, a multifamily development. We are joined by Greg Koenig, Senior Vice President of Credit for CRE at Peachtree Group, who led this transaction.

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October 2024

Peachtree Group is a nationwide direct balance-sheet lender, offering competitive terms, in-house loan servicing, and flexible capital to handle a wide array of projects.

Peachtree provides full-stack debt capital solutions to qualified commercial real estate owners across all sectors throughout the U.S. We offer bridge, construction, mezzanine, preferred equity, CPACE, permanent and NNN financing.

See below for some of the most recent loan transactions from Peachtree Group including hotel loans, retail, multifamily, industrial, and land.

Need Financing? Contact us at lending@peachtreegroup.com.

Peachtree's lending team has closed 11 loans totaling more than $208MM in the last 90 days.

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September 2024

Peachtree Group Closed 12 loans totaling more than $250MM in the last 90 days 

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‍FEATURED: Versatile Hotel Financing with both Senior & CPACE Origination

Peachtree Group originated a $50.4MM first mortgage and a $22.4MM Commercial Property Assessed Clean Energy (CPACE) financing for the development of the dual-brand, 263-room hotel located in Southern California. This project highlights Peachtree Group’s competitive advantage by demonstrating its ability to fully execute both Senior and CPACE loans.

Click Here to Read the Full Case Study

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August 2024

‍FEATURED: Peachtree Closes $40MM in CPACE Financing in 23 Days

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Amid ongoing credit market dislocations, Peachtree Group originated a $40 million retroactive CPACE loan in just 23 days.

Read the Press Release.

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July 2024

FEATURED: $20.5MM Development Loan for a Conversion

Peachtree Group worked with the Sponsor to convert a retail store to an industrial building in a sought-after area of Sacramento, CA.

‍Read the Case Study.

Hilton Garden Inn, Phoenix, AZ

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June 2024

FEATURED: $12.5MM Bridge Loan for a Hotel

‍Peachtree Group worked with the Sponsor to pay off its maturing loan while executing a business plan to upgrade its property to better compete in the marketplace and retain its Hilton flag.

‍Read the Case Study.

Peachtree is an award-winning hotel lender. Contact us to discuss your deal.

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Doradus Partners has nabbed $41 million of bridge financing to refinance a Hilton-branded Charlotte hotel property, Commercial Observer has learned.

Peachtree Group, formerly Stonehill, provided the floating-rate loan on Doradus’ 181-room Home2 Suites by Hilton Charlotte Uptown. Click here to read more.