hospitality

The US hotel sector is largely defying expectations as the country emerges from the pandemic, but it continues to be a bifurcated market, Rob Murray writes

JLL arranged the financing for Five Star Development to finish the $2bn project development.

A look at Trinity Real Estate Investments and Credit Suisse Asset Management’s $835 million purchase of the Diplomat Beach Resort.

Brookfield will transfer outstanding CMBS debt to the JV with the deal.

A group of lenders, including Blackstone and Vici Properties, are providing the financing. 

The hotel management company closed the deal in the last days of 2022.

The financing demonstrates a belief in the return of business travel as the US emerges from the covid-19 pandemic.  

The Austin manager focuses on first mortgages, B-notes, mezzanine and preferred equity in the $2m to $40m range.

The 74-story mixed-use property will be the tallest building in Texas when it comes online in 2026.

The mixed-use development includes C-PACE and pref equity components to complete the capital stack.