August 16, 2024
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Hoteliers will see more available capital in late 2024
There will be an increase in hotel transaction volume during the second half of 2024 and into 2025. With treasuries dipping well below 4%, all-in rates are back in the mid- to high 6% range for hotels. As long as treasuries continue to stabilize — lowering the overall cost of debt — more deals will pencil. There could be even more restrictions on the bank side due to increased regulations already set to roll out. Count on that void to be partially filled by debt fund, private money and CMBS lenders. Keep an eye out for an increase in alternative hotel lending sources in the next year, many of which are very competitive and flexible. This is due to the transition away from office loans and certain types of retail deals into hotel lending as a lot of banks were light on hotel exposure and are rethinking allocations. More
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Deal of the Week: The Pitch in Nashville, Tennessee
This is the first Peachtree Group C-PACE deal in Tennessee and was backed by a strong senior lender. The property, called The Pitch, is strategically located in an opportunity zone — presenting substantial potential for growth and development. The four-story, 75,000-s.f. office building is situated between Nashville’s CBD and the Wedgewood-Houston district. The office boasts an accessible location, just a short 15-minute drive from Nashville International Airport and within walking distance of numerous restaurants and bars. More
