Peachtree Hospitality Management announced that the director of people and culture, Joe Palmer, has been promoted to vice president, risk management. In this newly created role, he will take responsibility for providing the strategic vision for the company’s insurance, safety and risk controls. He will also coordinate with other organizational functions to enhance the risk management culture. Palmer will report to Patrick Short, PHM’s president

ESI Ventures has secured $43.5 million of bridge financing for the recapitalization and renovation of a 213-key hotel property in Scottsdale, Ariz., Commercial Observer can first report.

Stonehill originated the three-year, floating-rate loan for Hotel Adeline, a 1970-built property that ESI acquired in 2016 and renovated in 2018.

“It’s a great location and we really like the Scottsdale market,” said Keegan Bisch, a vice president at Stonehill. “It’s also a very strong sponsorship and a repeat borrower for us.”

Stonehill announced the expansion of its leadership team with four senior executive hires. Joining the organization are Daniel Siegel, Greg Koenig, Nisu Mehta and Taylor Pike. The addition of these leaders represents a strategic step in Stonehill’s vision of expanding its commercial lending business across all real estate sectors.

The new group has decades of real estate experience across numerous facets of the industry and spanning multiple business cycles.

“We are fortunate to have these four highly accomplished industry executives join Stonehill at a time of strong growth and momentum for our business,” said Mat Crosswy, Stonehill’s president and a principal. “Their backgrounds closely align with Stonehill’s deep industry experience, ingenuity and work ethic. We look forward to working closely with them on key strategic initiatives to grow our commercial real estate lending business.”