ATLANTA—Officials with Peachtree Hotel Groupreport the firm completed seven hotel finance and acquisitiontransactions this summer involving a combination of mortgage notes,real estate acquisitions, majority interest investments, and bridgeloans.


“We have now met our 2014 goal of adding up to 14 new assets toour hotel portfolio, and we still have plenty of time to far exceedthose aggressive numbers and make this a record year forPeachtree,” says Greg Friedman, Peachtree CEO. “Weremain a nimble investor, capable of executing quickly for theright investment opportunities.”


The company reports that from May 30th through August 22nd, ittransacted: a first mortgage note purchase on a La Quinta hotelproperty in Georgia; a first mortgage note purchase on a boutiquehotel in South Carolina; a purchase of the Crowne Plaza in NorthCharleston, SC; a purchase of the Hilton Garden Inn in OverlandPark, KS; the acquisition of the Hampton Inn and Suites inOrlando/UCF in Florida; the majority interest purchase of theMagnuson in Cool Springs, TX, which will be converted to a HolidayInn; and the first mortgage bridge loan on the TownePlace Suites inClear Lake, TX.


“The hospitality industry continues its upward trajectory interms of both rate and occupancy, and we continue to be an activeplayer as investment opportunities come to market,” saysJatin Desai, Peachtree CIO. “We have put the teamsin place to maintain rapid, but measured growth, and we expect tomaintain our current pace of activity in the select- andlimited-service hotel arenas for the foreseeable future.”


Peachtree Hotel Group operates, develops and invests inpremium-branded, select- and limited-service and extended-stayhotel assets under the Marriott, Starwood, Hilton, Hyatt, Choiceand InterContinental Hotels Group flags. Since its inception,Peachtree has acquired or developed more than $410 million of hotelproperties and first mortgage notes. Peachtree's current portfoliois comprised of 54 hotel assets totaling 5,199 rooms, including 28real estate assets and 26 notes.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.