Skip to content

Search

Latest Stories

Stonehill originates $79.8 million loan for Churchwick Partners

The money will go to acquire 12 extended-stay hotels

Stonehill originates $79.8 million loan for Churchwick Partners

COMMERCIAL REAL ESTATE direct lender Stonehill recently originated a $79.8 million, three-year, floating-rate bridge loan for New York-based Churchwick Partners for the acquisition of a 12-property, extended-stay hotel portfolio. The deal was premised on the strong performance by extended-stay hotels even during the pandemic.

Stonehill is an affiliate of Peachtree Hotel Group, led by Jatin Desai and Mitul Patel as managing principals. The deal includes 1,432 rooms in nine states, mostly Sonesta Hotels brands.


“Our sponsors benefit from experienced real estate lenders able to originate and close complex transactions,” said Nick Baer, Stonehill’s vice president for 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.”

The extended-stay segment has shown its strength throughout the pandemic, the company said, achieving the highest performance results of any hotel segment.

The portfolio includes:

  • Sonesta ES Suites Cleveland Airport, 158 rooms, in Middleburg Heights, Ohio
  • Sonesta ES Suites Chicago-Lombard, 144 rooms, in Lombard, Illinois
  • Sonesta ES Suites, 128 rooms, in Birmingham, Alabama
  • Suburban Extended Stay Hotel Westminster Denver North, 128 rooms, in Westminster, Colorado
  • Candlewood Suites Syracuse Airport, 124 rooms, in Syracuse, New York
  • Sonesta ES Suites St. Paul Airport, 120 rooms, in Egan, Minnesota
  • Simply Suites Detroit Southfield, 121 rooms, in Warren, Michigan
  • Sonesta ES Suites Dublin-Columbus, 106 rooms, in Columbus, Ohio
  • Sonesta ES Suites, 106 rooms, in St. Louis, Missouri
  • Sonesta ES Suites, 105 rooms, in Memphis, Tennessee
  • Simply Suites, 98 rooms, in Knoxville, Tennessee
  • Sonesta ES Suites, 94 rooms, in Montgomery, Alabama

Stonehill focuses on middle-market companies. The principals of Stonehill have originated roughly $5 billion in debt. Stonehill was ranked as the tenth-largest U.S. commercial real estate hotel lender by origination volume based on the 2021 Mortgage Bankers Association loan origination rankings.

In May, Stonehill announced major changes in their senior leadership team. The company hired Daniel Siegel, Greg Koenig, Nisu Mehta and Taylor Pike to expand its leadership team.

More for you

Trump H1B visa fee India
Photo by Andrew Harnik/Getty Images

Trump’s $100K H-1B fee sparks panic in India

Summary:

  • Announcement of $100,000 H-1B visa fee triggers panic among Indian professionals.
  • The fee applies only to new petitions.
  • IT companies are reportedly reviewing staffing and travel.

THE TRUMP ADMINISTRATION’S announcement of a $100,000 fee for new H-1B visa petitions, effective Sept. 21, reportedly triggered panic among Indian H-1B holders. Many rushed to book last-minute flights, resulting in fully booked planes and higher fares.

Keep ReadingShow less
AI digital assistant redefining guest loyalty in U.S. hospitality industry

Study: AI agents redefine hotel loyalty

Summary:

  • The use of AI agents hotels must rethink customer loyalty, a FAU study finds.
  • The paper proposes strategies as AI becomes the main booking channel.
  • Researchers warn of ethical and privacy issues.

HOTELS MUST RETHINK how they build and maintain loyalty as artificial intelligence systems make travel decisions and bookings for consumers, according to a study by Florida Atlantic University. The rise of artificial intelligence agents will complicate hotel customer loyalty management.

Keep ReadingShow less
HAMA Fall 2025 survey results

Survey: Hotels expect Q4 RevPAR gain

Summary:

  • More than 70 percent expect a RevPAR increase in Q4, according to HAMA survey.
  • Demand is the top concern, cited by 77.8 percent, up from 65 percent in spring.
  • Only 37 percent expect a U.S. recession in 2025, down from 49 percent earlier in the year.

MORE THAN 70 PERCENT of respondents to a Hospitality Asset Managers Association survey expect a 1 to 3 percent RevPAR increase in the fourth quarter. Demand is the top concern, cited by 77.8 percent of respondents, up from 65 percent in the spring survey.

Keep ReadingShow less
Peachtree Group DST Mansfield Texas

Peachtree adds Mansfield, TX, industrial asset to DST

Summary:

  • Peachtree launched new DST with 131,040‑square foot industrial facility in Mansfield, Texas.
  • The property was acquired at $180 per square foot.
  • Peachtree completed $320M in debt-free transactions across multiple markets since 2022.

PEACHTREE GROUP LAUNCHED its latest Delaware Statutory Trust with the acquisition of a newly built 131,040-square-foot industrial facility in Mansfield, Texas. The company has completed about $320 million in debt-free transactions since launching its DST program in 2022, according to its statement.

Keep ReadingShow less
American Franchise Act announced in U.S. Congress to protect hotel franchising and jobs

House unveils act to boost franchise business

Summary:

  • House introduces AFA to boost franchise model and hotel operations.
  • The act establishes a joint employer standard.
  • AHLA backs the bill, urging swift adoption.

THE HOUSE Of Representatives introduced the American Franchise Act, aimed at supporting the U.S. franchising sector, including 36,000 franchised hotels and 3 million workers nationwide. The American Hotel & Lodging Association, backed the bill, urging swift adoption to boost the franchise model and clarify joint employer standards.

Keep ReadingShow less