“There has been a big void in the hospitality finance space over the past few years due to tight banking regulations,” said principal Justin Piasecki. “We made a strategic decision to make sure that we know who all of the first mortgage financing, Mezzanine/Preferred Equity groups are who are focused on the hotel sector. In many cases we have clients coming to us looking for two pieces of the capital stack, and we’re able to help them get higher proceeds than what they would traditionally be offered.”
The Avison Young Capital Markets team is also engaged in 10 other debt and joint venture placements totaling $269,000,000 across most US regions. These recent closings and new engagements represent hotel assets across upscale brand families and cover hotels from luxury, full-service, boutique hotels to upscale select service assets.
“Our finance team is the best of the best in hotel debt placement and have closed some very market maker hotel transactions,” said principal Keith Thompson. “The amount of debt they have closed recently and are engaged on today in the hospitality space shows great depth of underwriting skill and extensive relationships within the hospitality industry.”
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties. More information about Avison Young can also be found on its blog, Twitter, YouTube and LinkedIn.