DENVER-GlobeSt.com has exclusively learned that locally-based HREC Investment Advisors has expanded its mortgage brokerage platform, forming a capital markets group within its hotel brokerage platform. The Hotel Capital Markets Group, also known as HREC H-CAP, will continue to focus on arranging acquisition debt, refinance, structured finance utilizing subordinate debt and preferred equity and other forms of capital to provide a complete range of capital solutions for its clients.
Mike Armstrong, principal in the San Diego office, who will co-manage the capital markets group, says that “the expansion of our capital markets practice positions us well to serve our clients with the strong recovery of the hospitality industry and the return to a relatively normal financing environment. The return of commercial banks and especially CMBS has created an excellent opportunity for our clients to refinance maturing loans and/or obtain acquisition financing at historically low rates.”
While HREC Investment Advisors is best known for orchestrating the sale of over 700 hotels, the HREC Capital Markets Group has also arranged in excess of $6 billion of hotel debt for their clients.
A significant new addition for HREC H-CAP is Jake Stahler, who will be based in the New York office as a senior vice president of capital markets. Stahler most recently covered CMBS conduit lending in the Northeast for Deutsche Bank, and was with a Mortgage REIT prior to that. He comes to the firm with a lenders perspective, has funded numerous hotel loans and “understands a lender's hot buttons when underwriting and closing a hotel financing.”
GlobeSt.com will update this story in the next day or so with thoughts from Geoff Davis, president and senior principal of HREC Investment Advisors.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.