Peachtree Group Strengthens Executive Leadership Team

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.

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Some Buyers Hunt for Opportune “Stressed” Hotel Investments

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.

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Peachtree Appoints Former CIO to Head Its 1031 Exchange Delaware Statutory Trust Program

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."

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Peachtree Hotel Group’s Principals Form Peachtree Group to Lead its Increasingly Diversified Investment Portfolio

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."

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Grand Opening of Homewood Suites by Hilton Louisville

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

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Peachtree Hotel Group Acquires the Canopy Atlanta Midtown Hotel

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."

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Stonehill PACE Finances $33 Million for the Hall of Fame Resort

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.

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Stonehill Originates $80M Bridge Loan for Extended Stay Hotels Purchase

Churchwick Partners has landed $79.8 million of bridge financing for the acquisition and recapitalization of 12 extended-stay hotel properties, Commercial Observer has learned.

Stonehill originated the three-year, floating-rate loan for Churchwick’s extended-stay portfolio consisting of 1,432 rooms. Churchwick’s deal was executed in partnership with David Kaye and Joe Listhaus of Rockledge.

“Our sponsors benefit from experienced real estate lenders able to originate and close complex transactions,” said Nick Baer, Stonehill’s vice president, business development. “With funding options from traditional lenders limited for hotels and other commercial real estate properties, we are pleased to provide Churchwick Partners with the lending solution, financial capacity and hospitality expertise to close this transaction in a challenging capital market environment.”

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Peachtree Promotes Joe Palmer to Vice President, Risk Management

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

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Stonehill Originates $44M Bridge Loan for Arizona Hotel Recap

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.”

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Stonehill Announces Strategic Leadership Additions to Expand Its Commercial Lending Business

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."

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People on the move at Peachtree

Peachtree Hotel Group promotes Leaf
Peachtree Hotel Group has promoted Brian Leaf to VP/head of internal sales for its broker-dealer affiliate.

“Brian has been an invaluable resource in expanding Peachtree’s access to equity partners,” said Rob Woomer, president, capital markets, Peachtree. “He has quickly formulated programs that allow us to strategically build strategic relationships with the highest quality financial advisors in the industry.”

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