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.
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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.
