HVS Capital Corp (HVSCC) announced that it successfully arranged $54.4 million of preferred equity for a four-property portfolio that includes the 150-room Embassy Suites Alpharetta, the 190-room Embassy Suites Arcadia, the 286-room Embassy Suites Las Vegas and the 275-room Renaissance Asheville. HVSCC served as an exclusive financial advisor to the owner of the portfolio.
“This arrangement helped refinance an existing preferred equity investment that originated in 2011 when mezzanine debt was out-of-favor with securitized lenders. The new preferred equity has been priced at a mezzanine-type cost by a capital source with the sophistication to navigate a complex structure and the tax issues associated with hotel income,” explains Bill Sipple, Executive Managing Director of HVS Capital Corp.
About HVS Capital Corp
Founded in 2001, HVS Capital Corp is the investment banking arm of HVS for the Americas. The firm’s executives have an average of 20+ years experience through several real estate cycles, completing tens of billions in transactions. HVSCC is an innovative industry leader that delivers comprehensive hospitality investment banking solutions based on performance, collaboration and trust. HVSCC provides an array of financial and capital advisory services and has extensive experience in the restructuring of debt and equity capitalizations, complex asset sales, distressed property workouts and traditional debt and equity raises. www.hvscapital.com
HVS is the world’s leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries. Established in 1980, the company performs 4500+ assignments each year for hotel and real estate owners, operators, and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of more than 30 offices and 450 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. Visit www.hvs.com.
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