Stonehill Lends $160M on Five Regional Mall Properties

Stonehill has deployed $160 million of capital for the acquisition of five regional malls across the U.S., Commercial Observer has learned.

The largest of the transactions involved a $42.3 million first-mortgage loan for Greenwood Mall, a 970,523-square-foot shopping center in Bowling Green, Ky., owned by Kohan Retail Investment Group. The firm also supplied a $42 million first-mortgage loan for Kohan’s 970,000-square-foot Livingston Mall property in Livingston, N.J.

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Peachtree names Rachel Huang VP, hotel analytics & support

Peachtree Hospitality Management, an affiliate of Peachtree Group, named Rachel Huang as vice president of hotel analytics & support. She will report to Patrick Short, PHM’s president.

Huang brings with her 20-plus years of international hospitality analytics and project management experience. She will lead PHM’s business intelligence strategy in providing data-backed decision support across multiple functions in her new role.

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Peachtree Group names Michael Bernath SVP, acquisitions

Peachtree Group has appointed Michael Bernath as SVP, acquisitions. In this role, he reports to Brian Waldman, Peachtree’s chief investment officer, and oversees the company’s national hospitality acquisition program.

Bernath brings more than 15 years of hospitality real estate experience to Peachtree. He most recently served as a principal with Avison Young’s national hospitality group and its predecessor, Hotel Assets Group. While at Avison Young, he was involved in more than $3 billion in transactions of select-service and full-service hotel assets across the U.S.

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BlueStar Studios, a $180 Million Film and TV Production Center, to Open in Atlanta

Atlanta will continue to grow as a major production hub with the addition of BlueStar Studios, a 53-acre campus now under construction in nearby Forest Park, Ga., that will start operations in the summer of 2023.

The project represents a total investment of $180 million. Development will continue in phases through 2024. Atlanta-based Gala Media Capital, a division of private equity firm Peachtree Group, originated the financing for construction of phase one of the studio development.

The new film and TV production facility will offer 18 purpose-built stages with more than 600,000 square feet of space – ranging in size from 5,000 square feet to over 40,000 square feet each. Productions will have access to two intersecting 100GB fiber lines for supporting all technical needs, including cloud services and virtual as well as traditional production.

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Stonehill PACE Originates $16.3 Million CPACE Financing for Multi-Family Project in Tacoma, Wash

Stonehill PACE officials announced that the company originated its first commercial property assessed clean energy (C-PACE) financing in the state of Washington with a $16.3 million loan for the Cornus House, a new 199-unit multifamily project with 1,233 square feet of retail development.

“For eligible projects, C-PACE financing remains one of the more attractive venues to get a project over the finish line,” said Jared Schlosser, Stonehill’s senior vice president and head of Stonehill PACE. “The Cornus House is a great project in a strong market led by a savvy ownership group with 30-plus years of commercial real estate experience and a portfolio of more than 800 apartments. This C-PACE financing is the final piece to complete the financing puzzle.”

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Peachtree Rebrands to Match Investment Expansion

An expanded breadth of investment types has led Peachtree Hotel Group to rebrand as Peachtree Group to manage and control its multi-billion-dollar investment portfolio and direct investment strategies across its distinct operating and real estate divisions, including hospitality, commercial lending, residential development and capital markets.

As it more specifically relates to its ongoing hospitality investment strategy, Peachtree Group CEO Greg Friedman said evolving economic dynamics are influencing its approach. “The difficulty it creates on the acquisition front makes a solid case to focus on developments,” Friedman said. “You are less concerned about the short-term headwinds. Everything happening now is transitory; nothing is permanently changing the fundamentals of hospitality.”

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Stonehill Commercial Real Estate Group Sees Strong Lending Market

Stonehill’s commercial real estate group, Stonehill CRE, has deployed approximately $200 million of capital through the origination and purchase of first mortgage loans since being launched in the second quarter of 2022. The company expects its commercial real estate group to deploy an additional $100 million in loan originations and other transactions by year’s end based upon deals in its pipeline. Stonehill CRE is targeting over $500 million in transactions for 2023

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Peachtree Looks To ‘Fill a Void’ as Hotel Lender, Developer

Amid a difficult environment for hotel transactions, hotel-focused private equity firm Peachtree Group has decided to focus more on the other two big parts of its business: building and lending.

Speaking with Hotel News Now at the 2022 Lodging Conference, Chief Investment Officer Brian Waldman said large, well-capitalized companies like Peachtree have an opportunity to be a bit contrarian in the market. He said 2022 will be a "record-breaking year for us in terms of development and projects coming out of the ground.“

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Peachtree Joins the Alternative Investment Exchange Platform

Peachtree has selected the Alternative Investment Exchange's AIX Platform as the primary electronic platform provider to streamline the investment processes for its independent broker-dealer and registered investment advisor partners.

“At Peachtree, we’re committed to delivering an elevated experience for our advisors,” explained Jessica Correnti, director, national accounts at Peachtree. “AIX supports these objectives by making the investment process straightforward and seamless. It takes powerful technology to make it this easy for advisors to add alts to their clients’ investment portfolios.”

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Peachtree Welcomes New Vice President of People and Culture

Peachtree Group announced the appointment of Natalie Robinson as vice president of people and culture.

Robinson joins Peachtree with over a decade of employee relations and engagement and performance management experience. Her responsibilities will include leading all aspects of Peachtree's people-first culture by ensuring talent recruitment, development and retention; and advancing the organization's inclusion and diversity efforts. She will also find new ways to enhance the overall team member experience.

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Tim Witt

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Peachtree On Track for a Record Year in New Hotel Construction

Peachtree Group's development division, Peachtree Hospitality Development ("PHD"), is on track to deliver a record year of development achievements. In 2022, PHD has opened three select-service hotels, with another hotel slated to open later this year. In addition, the company will break ground this year on 11 hotels, primarily select-service, across the U.S. In total, Peachtree will add more than 1,500 rooms to its portfolio through these developments.

"While construction starts have been slowed by the pandemic and supply chain disruptions, we have successfully navigated these issues and remain on track to deliver the most hotel openings and groundbreakings in our history," said Mitul Patel, Peachtree's COO and managing principal.

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