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The borrower secured the loan to refinance the 161-key Mission Pacific boutique hotel and The Seabird Resort, a 226-key full-service resort.
Still, the industry continues to improve its metrics, led by leisure travel, while meetings and events look better for 2023.
The real estate investment firm has purchased the dual-brand Homewood Suites & Hilton Garden Inn Jacksonville Downtown.
Driftwood Capital added six hotels to its portfolio last year, viewing hotel assets as a hedge against inflation.
Following are our selections for companies that excel in CRE marketing.
Fitch now anticipates RevPAR to recover to about 70% of 2019 levels in 2022, with most of the recovery happening in the second half of the year.
The survey includes 127 single asset sale transactions over $10 million.
"While Omicron is a little different, we think most of the evolutionary decisions have already been made."
Värde Partners and Hawkins Way Capital will be targeting these assets in major US cities.
The NYC-based lending group establishes a third fund for construction and condo inventory loans.