驾驭酒店融资:关于适应利率上升和通货膨胀的专家见解

在快速变化的经济环境中,酒店开发商和贷款机构正在调整其战略,以确保酒店项目取得成功。我们与桃树集团酒店贷款执行副总裁兼CPACE主管贾里德·施洛瑟坐下来讨论了利率上升和通货膨胀压力如何影响贷款标准和财务规划。在 “活跃贷款” 小组讨论中听取贾里德的更多见解 住宿会议。

 

问:鉴于利率上升和通货膨胀压力,贷款机构如何调整酒店的承保标准?

杰瑞德·施洛瑟: 现在,一切都与现金流有关。除非背后有真实的故事,否则很难为任何形式的预期增长提供担保。贷款人专注于现金流,如果你能实现13%或更高的债务收益率,你就有资格获得永久债务、CMBS、人寿公司甚至银行收购。如果你没有达到这个门槛,那么你通常会进入私人信贷领域,而这正是Peachtree Group的用武之地。

问:贷款条款的当前趋势如何,例如贷款与价值(LTV)比率或利率?

JS: 差异很大,具体取决于每家贷款机构的风险门槛是多少。我看到的最大趋势是不确定利率将在多长时间内保持高位。因此,借款人正在寻求灵活性。他们愿意为收益维持时间较短或预付罚款较低的贷款支付溢价。许多人对像以前一样锁定长期固定利率债务犹豫不决。

我们提供固定利率和浮动利率贷款,但即使是固定利率产品,借款人也在努力确保尽可能多的灵活性。我们仍将达到70%的贷款比率(LTC)或LTV,有时会推高至75%或缩减规模,具体取决于我们的承保情况。相比之下,银行市场的平均水平接近50-55%,这凸显了我们的领域与传统银行之间的区别。

问:开发者应该如何调整他们在这个市场上的财务策略?

JS: 我总是说,在动荡的市场中,抢先一步。保持积极主动——无论是与我们还是与该领域的其他竞争对手进行对话,都要提前到期,尽早开始对话。目前,尽早参与是关键,因为未来非常不确定。

随着选举的临近、围绕美联储政策的波动以及是否会降息或维持高于预期的时间的问题,流动性正在波动。借款人越早进入市场寻求再融资或建筑融资,他们的一揽子计划准备得越充分,他们获得优惠条件的机会就越大。

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、优先股投资和提供资金 商业地产评估的清洁能源(CPACE)融资,向所有专门从事酒店融资的商业房地产资产类别提供贷款。Peachtree集团团队已经执行了超过297笔交易,为寻求资金以完成收购、资本重组、再融资和翻新的项目提供了超过45亿美元的资金。

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Amid ongoing market volatility, Peachtree deployed nearly $500 million in credit transactions during the 2025 first quarter and is on track to exceed its 2024 production targets. Notable originations this year  include:

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Peachtree reaffirmed its position as a leader in CPACE financing in 2024, setting a firm record with 22 transactions totaling $316.6 million. The CPACE team also recently surpassed $1 billion in total transaction volume—an achievement few in the lending industry can claim—further solidifying Peachtree’s success in expanding its lending platform and providing innovative financing solutions.

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Commercial Observer: Peachtree Group Provides $43M Loan in Fort Lauderdale Hotel Recap

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