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Regent Partners And Mariner Investment Group Secure $50 Million Refinance Loan For Thompson Savannah Hotel

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FINANCED
$50,000,000

Georgia

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Hotel
Financed 11/06/2024
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FINANCED

Regent Partners And Mariner Investment Group Secure $50 Million Refinance Loan For Thompson Savannah Hotel

201 Port Street

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Hotel
Financed 11/06/2024
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Summary

GEORGIA
Asset Type:Hotel
Transaction Type:Loan

The asset involved in the transaction is the Thompson Savannah hotel, which has a total of 193 keys and is branded under Hyatt. The hotel is located at 201 Port Street in Savannah, GA. It opened in August 2021 and has demonstrated strong growth in key hospitality metrics. The refinance loan amounts to $50 million, aimed at replacing previous construction debt associated with the property.

Summary of transaction details:

This transaction involved Regent Partners and Mariner Investment Group, who secured the refinancing deal through Mesa West Capital. The broker team from Berkadia, consisting of Jared Kelso, Lauren Greenberg, and Stephen Michels, played a significant role in facilitating the transaction for the parties involved.

Players

Jared Kelso
2 deals$68M volume(617) 378-1174
BROKER

Stephen (Steve) Michels
Berkadia
2 deals$68M volume(607) 592-4020
BROKER

Lauren Greenberg
Berkadia
1 deal$50M volume(646) 432-7495
BROKER

Cushman & Wakefield
BROKERAGE

Details

FINANCED
IMAGE: 11/06/2024 ADDRESS: 201 Port Street MARKET: Savannah, GA ASSET TYPE: Hotel LENDER: Mesa West Capital - Russell Frahm, Pamir Niaz & Jacob Rosen LANDLORD: Regent Partners & Mariner Investment Group BROKERS: Jared Kelso, Lauren Greenberg & Stephen Michels - Berkadia LOAN AMOUNT: $50,000,000 LOAN TYPE: Refinance NOTE: Regent Partners and Mariner Investment Group secured a $50 million loan from Mesa West Capital to refinance the Thompson Savannah hotel, which opened in August 2021. The five-year, nonrecourse loan replaces previous construction debt on the 193-key Hyatt-branded property, which has seen strong growth in key hospitality metrics.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,000,000.00

Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00