PEACHTREE GROUP’S CREDIT team recently crossed $1 billion in year-to-date loan originations, marking a key milestone and setting a new benchmark for early-year performance. The firm projects reaching $1.75 billion in originations by the end of 2024, according to a company statement.
Peachtree provides diverse financing solutions, including permanent, bridge and mezzanine loans, as well as CPACE financing and preferred equity across all sectors, the statement said.
“While the Federal Reserve has lowered rates to provide some relief to the overall economy, the commercial real estate sector will continue to face significant headwinds over the next few years,” said Jared Schlosser, Peachtree’s executive vice president of hotel lending and head of CPACE.
Peachtree is led by CEO and managing principal Greg Friedman, CFO and managing principal Jatin Desai, and principal Mitul Patel.
The trillions in debt maturities position private credit lenders like Peachtree to close the funding gap left by traditional capital sources.
“With conventional lenders still on the sidelines, we have seen a significant shift in capital markets with private credit lenders supporting the industry as it faces a sharp rise in debt maturities potentially approaching $1.5 trillion through 2025,” Schlosser said.
Hotels dominated with more than $639 million in year-to-date credit transactions, a 176 percent rise from the same period last year. Multifamily originations followed, with both sectors comprising 80 percent of total credit transactions, the statement said.
Notable credit transactions closed this year include:
- $47 million first mortgage loan for a multifamily property in Bradenton, Florida
- $41.9 million first mortgage loan for a Kimpton Sylvan hotel in Atlanta, Georgia
- $40 million CPACE financing for an AC hotel in San Diego, California
- $38.5 million first mortgage loan for a multifamily property in Miami, Florida
- $26.4 million first mortgage loan for a Hampton Inn in Columbus, Ohio
“Peachtree has built a strong financial foundation over the years, giving it the stability to support commercial real estate owners in securing the funding needed for acquisitions, recapitalizations, and development projects,” Schlosser said.
In April, Peachtree promoted Jared Schlosser to executive vice president of hotel lending and head of CPACE. Since joining in 2019, he has helped develop the CPACE program, which has exceeded $800 million in transactions. Since taking charge of hotel originations in early 2022, Peachtree has closed over $1.5 billion in hotel loans.
In September, Peachtree launched its fifth hotel property as a Delaware Statutory Trust, acquiring the 128-key Residence Inn Tampa Wesley Chapel in Florida, following the purchase of the Home2 Suites by Hilton Atlanta Sugarloaf DST in August.
