(Mark Your Calendars: RealShare HOTELS 2011, September 15 in New York City).
SALT LAKE CITY-Driftwood Hospitality Management and a global real estate private equity fund have secured a three-year, 4.4% fixed-rate loan with C-III Capital Partners LLC to refinance the Sheraton Salt Lake City hotel here.
The Sheraton Salt Lake City is located at 150 W. 500 S. close to the Salt Palace Convention Center, the Utah State Capital and Gallivan Center in downtown Salt Lake. Renovated in 2009, the hotel features an outdoor pool, indoor whirlpool, sauna, massage and body salon, fitness center and complimentary shuttle service to the surrounding area.
The Holliday Fenoglio Fowler LP team representing the borrower was led by managing director Mark Remington, director John Bourret and senior managing director Mona Carlton. “Hotels are difficult to finance, but this property ramped up quickly after its renovations and outperforms its competition thanks to dedicated ownership and strong management, all of which created a desirable lending opportunity,” says Remington.
Driftwood Hospitality Management is a hotel management company that operates and develops hotels in the US, the Caribbean, and Latin America.
Driftwood Hospitality Management has been busy in recent months. As GlobeSt.com previously reported, it just inked a $400 million joint venture with a real estate investment fund managed and advised by affiliates of Apollo Global Management to invest over the next two years.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
