Peachtree Group Provides $85 Million Loan To Recapitalize Singerman Real Estate's Myrtle Beach Hotels

The asset involved in this transaction is a dual-branded hotel comprising the 238-key Ellie Beach Resort Tapestry by Hilton and the 214-key DoubleTree Resort by Hilton Oceanfront, located at 3200 South Ocean Boulevard in Myrtle Beach, SC. The loan amount for this recapitalization effort is $85,000,000, which is structured as a three-year floating-rate loan.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $85,000,000
• Lender: Peachtree Group
• Landlord: Seth Singerman - Singerman Real Estate
• Loan Type: Recapitalization
• Loan Terms: three-year, floating-rate loan

The transaction is primarily supported by Peachtree Group, which facilitated the recapitalization of Singerman Real Estate’s hotel properties by providing a bridge loan with extension options.