The financing is the largest senior hotel bridge loan completed in Peachtree’s history. It replaces existing debt on the portfolio, which is owned by repeat borrower Doradus Partners. JLL arranged the transaction, which closed in fewer than 45 days.
The portfolio comprises a 223-room Residence Inn by Marriott, a 273-room Fairfield by Marriott Inn & Suites, a 272-room Home2 Suites by Hilton and a 229-room Homewood Suites by Hilton. Developed in 2020 and 2021, the four hotels currently maintain a weighted average occupancy rate of nearly 89%.
“This transaction reflects exactly where we believe the market is today,” said Jared Schlosser, head of originations and CPACE at Peachtree. “High-quality assets with experienced sponsorship continue to attract significant lender interest, but execution remains the differentiator. We were able to move quickly, provide certainty and deliver a financing solution that met the borrower’s objectives.”
Each property holds the Walt Disney World Gateway Hotel designation. This provides guests with access to Disney vacation planning services, transport to the parks and exclusive marketing opportunities.
Jared Schlosser said the portfolio’s operating performance, construction quality and brand affiliations supported Peachtree’s assessment of its long-term prospects.
“From both a real estate and operating perspective, this portfolio checked every box,” Schlosser added. “These are high-quality, institutional assets with strong cash flow, modern construction and two of the industry’s strongest global reservation systems through Marriott and Hilton. That combination gave us confidence in the long-term performance of the portfolio.”
The hotels are located within Flamingo Crossings Town Center, a mixed-use district featuring accommodation, restaurants, retail outlets and entertainment facilities. The portfolio is also adjacent to Flamingo Crossings Village, a 120-acre residential community with more than 2,500 apartments.
The residential development houses Disney cast members and participants in the Disney College Program. Meanwhile, the surrounding district continues to expand through additional hospitality, residential and commercial development.
The transaction reflects the increasing participation of private credit providers in larger commercial real estate financings. Such institutional-quality transactions were historically dominated by traditional banks.
The financing represents Peachtree’s fourth transaction with Doradus Partners, according to Greg Friedman, managing principal and chief executive officer of Peachtree.
“This marks our fourth transaction with Doradus Partners, and we believe that speaks volumes about the strength of our platform and the importance of relationships in today’s lending environment,” said Greg Friedman, Managing Principal and CEO of Peachtree. “When experienced sponsors have a choice, they continue to come back to partners that can execute with certainty and move quickly. That’s something we’ve worked hard to build, and we’re proud to earn that trust time and again.”
Peachtree operates as a direct commercial real estate lender in the United States. Its financing products include bridge, permanent and mezzanine loans, Commercial Property Assessed Clean Energy financing, preferred equity and triple-net lease financing.
The company also provides lending through US Department of Agriculture guaranteed programmes and Small Business Administration 7(a) loans. Its financing platform covers different levels of the capital structure and various stages of the real estate lifecycle.
