多元化商业房地产投资公司Peachtree集团宣布，其信贷部门已完成该公司今年迄今为止部署的11亿美元贷款中的5.56亿美元贷款。剩余的5.26亿美元用于收购五家酒店和开展三个新的酒店开发项目。该公司还开设了五家截至2023年9月在建的酒店。
桃树集团首席执行官格雷格·弗里德曼表示：“在过去15年中长期受益于随时可用的低成本资本的商业地产所有者现在正面临着一个新的现实。”
为到期债务再融资的能力越来越令人担忧，估计有1.9万亿美元的美国商业房地产债务将在2026年底之前到期。
弗里德曼说：“商业房地产参与者在为收购、资本重组和发展战略寻找资本时面临着资本成本上涨和流动性紧缩的压力。”
Peachtree Group Credit（前身为Stonehill）在抵押银行家协会2022年贷款发放排名中被评为美国第八大商业房地产酒店贷款机构。作为一家直接的商业房地产贷款机构，它为所有商业房地产领域提供永久贷款、过渡贷款、夹层贷款、商业地产资产清洁能源（CPACE）融资和优先股投资，其起源于酒店业。
今年完成的重要酒店信贷交易包括：
其他商业房地产行业的交易包括：
如今，银行面临监管压力，需要支撑资产负债表和流动性状况，这导致了对商业房地产的重大贷款限制。这种传统贷款机构的中断进一步提高了业主和开发商执行业务计划的私人信贷。
桃树集团信贷高级副总裁贾里德·施洛瑟表示：“我们的活动正在上升，我们发放的贷款有一半以上在过去60天内到期。”“我们的目标是到2023年发放超过10亿美元，并将持续增长到2024年，因为我们预计利率将保持在较高水平，银行将进一步减少风险敞口。”
桃树集团的收购部门完成了五次酒店收购，共收购了677间钥匙。
“我们的交易量保持增长，因为我们历来每年收购10至15家酒店。桃树集团首席信息官布莱恩·沃尔德曼说，美国整体交易市场同比下降，这主要是由于2022年是活跃的一年，而债务仍然相对负担得起，区域贷款机构的广泛可用性以及运营基本面的改善，而在2023年，债务资本市场的紧缩对交易速度产生了重大影响。“我们处于独特的地位，可以利用我们深厚的关系网络收购大多数场外酒店，以保护这些机构质量的资产。我们在竞争对手中也是独一无二的，因为我们有能力成为全现金买家，从而消除贷款风险并快速平仓。”
桃树集团预计，在今年剩余时间内，市场交易将加速，并持续到2024年。
今年迄今为止，Peachtree集团的开发部门已经完成了三个新项目，总价值为2.93亿美元：
此外，开发团队已经开设了五家酒店，总开发成本约为1.19亿美元：
该开发部门代表Peachtree集团建造酒店，并通过与战略合作伙伴的合资企业建造酒店，预计将在年底前破土动工，再建造四家总价值为2亿美元的酒店。
世邦魏理仕预计，未来三年新的供应增长平均约为1％，远低于 COVID-19 疫情之前的新供应增长量，也低于未来三年2.5％的需求增长速度。
Peachtree Group投资与开发副总裁威尔·伍德沃思表示：“新酒店客房的供应增长继续受到疫情挑战的阻碍，如今由于信贷市场的混乱而受到进一步影响。”“我们认为，在可预见的将来，供应将继续受到限制，并已加大了开发渠道作为回应。”
如果实际需求增长率超过预期，则酒店市场可能面临酒店客房供应短缺。这将推动入住率的增长和房价的压缩。
伍德沃思说：“尽管整个市场存在不利因素，但Peachtree的定位良好，资本充足，可以战略性地瞄准子市场和需求细分市场，新酒店客房一旦实现，将蓬勃发展。”
关于桃树集团
Peachtree Group是一家投资公司，通过多样化的商业房地产资产和其他风险投资组合推动增长。自成立以来，该公司已经进行了数百项投资，重点是总市值接近90亿美元的房地产收购、开发和贷款。如今，Peachtree管理着超过25亿美元的股权，并辅之以旨在保护、支持和增加其投资的服务。
This article is republished with permission from Commercial Observer
Commercial Observer (February 4, 2025) - Starlife Group has secured $35 million of construction financing to build a multifamily development in Hollywood, Fla.,Commercial Observer can first report.
Peachtree Group originated the fixed-rate Commercial Property Assessment Clean Energy (C-PACE) loan on the developer’s planned 200-unit 21 Hollywood project.
SF Capital Group’s Matt Shane arranged the transaction, which will be used to support the 13-story project’s energy efficiency, envelope enhancements and hurricane resiliency measures.
Jared Schlosser, Peachtree Group’s senior vice president, said the long-term structure of the deal was an ideal approach for the project amid a high interest rate climate, with Peachtree covering 40 percent of the cost and Starlife Group contributing 60 percent equity. The 30-year loan is non recourse outside of a completion guarantee, according to Schlosser.
“We handled theconstruction draws just like you would on a senior construction loan and wewere even able to fund a little bit of capital at close for the project to getstarted, so it ends up being a pretty accretive alternative compared to justtaking a low-leverage bank loan,” Schlosser told CO.
“It acts like an insurance product where it’s a construction-to-perm deal, but it doesn’t have the traditional rights and remedies and recourse that may come along with traditional long-term financing,” Schlosser added. “Here it’s just a straight annual payment, which is easier to navigate for the borrower.”
Located at 2100 N.Federal Highway, the 21 Hollywood project broke ground late last year and is slated for completion in February 2027. Community amenities will include an infinity pool, a fitness center, outdoor kitchens, co working space and a dog park. The property will also feature 9,997 square feet of ground-floor retail.
Fort Lauderdale-based Starlife purchased the 1.48-acre site across from South Broward High School for $6.5 million in 2023, according to the South Florida Business Journal. The development was designed by Kobi Karp Architecture.
“Conventional construction loans are hard to find these days,” Shane said. “There was significant equity brought into the project, so it made the deal easy to do with PACE.”
Officials at Starlife Group did not immediately return a request for comment.
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ATLANTA (Feb. 12, 2025) – Peachtree Group (“Peachtree”), a diversified commercial real estate investment platform, announced the appointment of Michael Brunner as executive vice president, credit investments. With an extensive background in securitized products, asset finance and commercial real estate, Brunner will be critical in elevating Peachtree’s credit platform and driving its strategic growth initiatives.
Brunner has more than 25 years of experience at top-tier financial institutions, including ATLAS SP Partners, where he was instrumental in the warehouse finance and securitized products business. He also held leadership roles at Credit Suisse, where he contributed to the Securitized Products Asset Finance division, focusing on commercial real estate finance and commercial mortgage-backed securities (CMBS). Earlier in his career, he spent 18 years in real estate capital markets at J.P. Morgan, where he managed a loan securitization team, led a loan underwriting team and worked with bond investment clients on new issue offerings.
“Michael’s leadership in securitized finance and commercial real estate finance makes himan invaluable addition to our team,” said Michael Harper, president, hotel lending at Peachtree. “His deep institutional relationships and ability to streamline deal execution will strengthen our credit platform, broaden our market reach and enhance our portfolio. With Michael on board, we are well-positioned to optimize our credit strategies, unlock new capital sources and drive superior risk-adjusted returns for our stakeholders.”
Brunner holds an MBA from theUniversity of Florida and a Bachelor of Science in construction science from Texas A&M University.
“I am thrilled to join Peachtree Group at such an exciting time for its credit platform,” Brunner said. “Peachtree’s ability to pivot across the capital stack, combined with its track record in private credit, positions it as a commercial real estate market leader. I look forward to contributing to its continued success and growth.”
“Peachtree’s credit platform has consistently delivered strong results, supported by a team of seasoned professionals dedicated to originating, underwriting and managing private credit investments. With Michael’s leadership, the credit platform is poised for further growth, reinforcing its position as an industry leader,” Harper added.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
This article is republished with permission from Green Street News.
The developer of an apartment complex in northwest Washington state has lined up $57.5 million of senior debt from Peachtree Group, including $29 million of commercial Property Assessed Clean Energy financing.
Grandview North is on track to complete the 350-unit Harrington Place, in Ferndale, by January 2026. Atlanta-based Peachtree funded $13 million of the debt at closing on Jan. 28.
The fixed-rate C-PACE loan has a 30-year term. The rest of the senior financing package, brokered by CapNorth, was structured as a $28.5 million, floating-rate construction loan with an initial term of 18 months, plus extension options.
As part of the deal, the term of an outstanding $20 million mezzanine loan from Hickory CRE Lending was adjusted to match that of the Peachtree floater. The project is expected to cost $90 million, which pegs the overall loan-to-cost ratio at roughly 86%.
New York-based Hickory originated its fully funded subordinate loan as part of a $77 million debt package that Arlington, Wash.-based Grandview lined up in April 2023. The package also included a $57 million senior-debt commitment from Bayview Asset Management of Coral Gables, Fla. Bayview’s portion, which never funded because construction was postponed due to permitting delays, was split between a $45 million construction loan from its Oceanview Life and Annuity affiliate and $12 million of C-PACE financing from its Bayview PACE unit.
Developers can use C-PACE loans, which are repaid via assessments collected with property taxes, to help finance commercial buildings that meet certain standards for energy efficiency and sustainability. For its part, Peachtree offers borrowers debt throughout the capital stack by providing such financing in conjunction with traditional construction and bridge loans, president Daniel Siegel said.
Harrington Place will comprise 11 buildings on an 18-acre site that Grandview has owned since late 2020. The 101 studios and 150 one-bedroom, 63 two-bedroom and 36 three-bedroom units will have quartz counters, stainless-steel appliances and full-size washer/dryers.
Amenities will include fitness, game and party rooms, a lounge, a playground, indoor and outdoor athletic courts, and a patio with grills. The property is at 6276 Portal Way, a half-mile west of the Nooksack River and 10 miles northwest of Bellingham, a growing city between Vancouver, Canada, to the north and Seattle to the south.
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