Industry News and Investment Knowledge

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.“

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.”

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.

Peachtree Group is proud to welcome Tim Witt as its president of the company's newly launched 1031 Exchange Delaware Statutory Trust ("DST") program.

As former Chief Investment Officer of DAI Securities, Witt has more than 25 years of experience with a focus on alternative investments. He is a proven leader with expertise in finding investment solutions that can provide attractive, risk-adjusted returns.

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.

Peachtree Group bolsters its executive leadership team with the promotion of Brian Waldman to chief investment officer and the appointment of Jeremy Stoler to executive vice president, debt capital markets.

In these pivotal roles, Waldman will manage Peachtree's multi-billion-dollar investment portfolio and direct investment strategies across its distinct operating, lending and real estate divisions.
Stoler will focus on supporting Peachtree's operating companies and growth into other real estate sectors.

Although the wave of distressed buying that some envisioned never materialized, investors may still have a chance to put money into hotel properties stressed by the coronavirus pandemic given rising interest rates and the possibility of a recession in the near future.

“During COVID we effectively kicked the can down the road,” says Brian Waldman, chief investment officer for the Peachtree Group, based in Atlanta. “Now we are seeing more pressure. Now it is time to face the music.”

Higher interest rates and deferred capital expenditures may finally push some owners to look for new equity partners or even sell their properties. It’s not likely to be the kind of fire sale investors had expected, with deep discounts compared to prices before the pandemic.

“Now we are seeing stressed owners rather than distressed assets,” says Waldman.

Peachtree Group is proud to welcome Tim Witt as its president of the company's newly launched 1031 Exchange Delaware Statutory Trust ("DST") program. As former Chief Investment Officer of DAI Securities, Witt has more than 25 years of experience with a focus on alternative investments. He is a proven leader with expertise in finding investment solutions that can provide attractive, risk-adjusted returns

"As we expand our array of high-quality, diversified investment strategies, we wanted to create 1031 Exchange DSTs to provide tax deferral strategies in the hospitality sector," said Greg Friedman, Peachtree's CEO and managing principal. "To strengthen our vertically integrated investment platform that will benefit our stakeholders, we knew Tim's experience building out alternative investment platforms would be the perfect fit to launch our program."

The managing principals of Peachtree Hotel Group announced today that they have formed Peachtree Group. This new company will 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.

"The expanded breadth of investment types we are undertaking warranted the formation of Peachtree Group without Hotel in the moniker," said Greg Friedman, Peachtree's CEO and managing principal. "This transformative structure provides a significant opportunity to unlock the full potential of our integrated real estate investment platform that has served us well in the hospitality sector to expand into other real estate sectors and businesses."

A new hotel in proximity to major Louisville draws like Churchill Downs and Cardinal Stadium recently opened.

Homewood Suites by Hilton Louisville Airport opened in May at 130 Central Ave., although it’s hosting its official ribbon-cutting event Thursday. The hotel comes from Atlanta-based Peachtree Hotel Group

Peachtree Hotel Group announced the acquisition of the 176-room Canopy by Hilton Atlanta Midtown hotel in Atlanta, Georgia. Peachtree Hospitality Management, a division of Peachtree, will operate the property.

"Midtown Atlanta is one of the hottest markets in the country right now, and we are excited to be able to make this investment in our backyard," said Brian Waldman, Peachtree's chief investment officer. "The Canopy Atlanta Midtown fits our investment criteria of investing in premium-branded hotels in growing submarkets with strong demand drivers."

Hall of Fame Resort & Entertainment Co. in Canton, Ohio, said Wednesday it has landed $33.4 million in energy efficiency financing to help open some of its sports-themed assets by early August.

The resort's latest financing, called Property Assessed Clean Energy (PACE) financing, comes from Stonehill PACE and was approved by Canton City Council in coordination with the Canton Regional Energy Special Improvement District. PACE programs allow a property owner to finance the up-front cost of energy or other eligible improvements on a property and then pay the costs back over time through a voluntary assessment, according to the U.S. Department of Energy.