Who Secured $60.2M in Hotel Financing? Hunter Hotel Advisors Leads the Way!
HUNTER HOTEL ADVISORS secured $60.2 million in financing for seven hotels, with loans ranging from $5.73 million to $12.8 million and up to 85 percent financing. Prada Hotels, led by CEO Hemal Patel and Lotus Hospitality Investments used the financing to support their expansion.
The financing includes SBA 7(a) and 504 loans for:
- Extended Stay America Washington D.C. Chantilly Airport, Virginia
- Extended Stay America Washington D.C. Chantilly, Virginia
- Candlewood Suites Louisville Airport, Kentucky
- Candlewood Suites Indianapolis Airport, Indiana
- Staybridge Suites Denver Tech Center, Colorado
- Residence Inn Lake Charles, Louisiana
- Fairfield Inn & Suites Atlanta Vinings/Galleria, Georgia
“The year 2024 ended on a strong note and a tailwind propelling us into 2025,” said Adeel Amin, Hunter’s senior vice president, capital markets. “A renewed appetite for traditional bank loans is emerging, particularly from local institutions, while innovative structures like variable-rate SBA 504 programs are also gaining traction. As the market finds its footing in this evolving landscape, lending is increasingly dictated by debt-service coverage ratios. Consequently, government-backed loans are poised to remain a critical component of the financing landscape for loan requests requiring maximum leverage up to 80 percent or low DSCRs.”
Hemal Patel said Prada Hotels is excited to expand into Chantilly.
“The extended-stay market continues to thrive, and the locations are ideal for a hands-on operation such as ours,” he said. “Given the volatility in the markets, financing presented some hurdles, but Adeel had effective solutions and guided us through the entire process.”
“Lotus Hospitality Investments is expanding its portfolio with the acquisition of two Candlewood Suites properties in Kentucky and Indianapolis,” said Minesh Deva of Lotus Hospitality. “Securing optimal financing for the underperforming assets proved challenging. However, we successfully navigated the complexities of government-backed lending to maximize leverage for both deals while also structuring the financing to allow for a timely exit upon stabilization.”
Hyatt CEO Mark Hoplamazian will join Peachtree Group CEO Greg Friedman for a fireside chat at the Hunter Investment Conference on March 19. The event runs March 18 to 20.
