Smith Hill Capital and Bain Capital Special Situations have successfully closed a $111 million first mortgage loan for a portfolio of four hotel properties. The borrower’s identity remains undisclosed. This 954-key portfolio includes the Marriott Bridgewater in Bridgewater, NJ; W Atlanta Downtown in Atlanta; Embassy Suites Walnut Creek in Walnut Creek, CA; and Embassy Suites Flagstaff in Flagstaff, AZ.
The joint venture between Smith Hill and Bain Capital was established in 2023 to cater to the financing needs of hospitality companies and assets located within high-demand markets across the United States.
“We are pleased to announce the completion of this loan for our hotel portfolio as it highlights our dedication towards navigating through today’s complex financial market,” stated Brendan McCormick, managing principal at Smith Hill Capital. “Our team possesses extensive knowledge about the hospitality industry coupled with our partnership with Bain Capital which enabled us to structure a deal that met all requirements set by our borrower. It was an absolute pleasure working alongside JLL Hotels & Hospitality team who represented the sponsorship group.”
Pictured: Marriott Bridgewater.
This article originally appeared on Connect CRE without any mention or reference to Connect CRE or its affiliates.
