Stonehill on Track to Deploy $1.25 billion in 2021

Hospitalitynet – Stonehill, a commercial real estate direct lender, announced it deployed $612 million across 64 transactions year-to-date. The company expects to deploy approximately $1.25 billion during 2021, increasing 74% from 2020. The transactions include first mortgage permanent and construction loans; bridge, and mezzanine loans; and hotel investments. The company also has an affiliate, Stonehill PACE, that offers commercial property assessed clean energy (CPACE) financing.

“These structured transactions are a reflection of our ability to provide creative and cost-efficient capital solutions that meet our sponsors’ unique needs,” said Mat Crosswy, Stonehill principal. “Our experience originating complex transactions as well as the quickness and certainty of execution differentiates us in the market.”

A survey conducted in late 2020 by the American Hotel & Lodging Association found that half of hotel owners said they were in danger of foreclosure by their commercial real estate debt lenders. Fortunately, government support and ongoing help from banks have kept hotel owners from suffering even steeper losses. However, certain of those supports are coming to an end.

“The tide is turning, and we have experienced an increase in activity from hotel owners and investors as forbearance periods are ending and traditional lenders becoming less flexible than they were a year ago,” Crosswy said. “With the industry in recovery mode, hotel owners are looking for financing options to ensure their properties and portfolios have an optimal capital stack to see them through to a normalized operating environment.”

Stonehill as a senior lender originates loans across the capital structure for acquisitions, construction, recapitalizations, refinancing, and renovations.

“Stonehill prides itself on working with owners to find financial solutions that work for all parties involved,” Crosswy said.