Trinity Street Capital Partners (TSCP), a full service real estate investment bank, announces the origination of a $37MM first mortgage and $9MM of preferred equity on a portfolio of limited service hotels in Dallas, TX.
NEW YORK, NY, September 07, 2017 /24-7PressRelease/ — Trinity Street Capital Partners (TSCP) (www.trinitystreetcp.com), a full service real estate investment bank, announces the origination of a $37MM first mortgage and a $9MM preferred equity investment, which supplemented the reorganization of the partnership. The limited service hotels were flagged with several IHG (Intercontinental Hotels Group) brands and well located in the Dallas/ Fort Worth MSA.
InterContinental Hotels Group PLC, informally InterContinental Hotels or IHG, is a British multinational hospitality company headquartered in Denham, UK. IHG has over 766,000 rooms and 5,174 hotels across nearly 100 countries. Its brands include Candlewood Suites, Crowne Plaza, EVEN Hotels, Holiday Inn, Holiday Inn Express, Hotel Indigo, Hualuxe, InterContinental, Kimpton Hotels and Resorts and Staybridge Suites. Of the 5174 hotels, 4321 operate under franchise agreements, 845 are managed by the company but separately owned, and 8 are directly owned.
According to a spokesperson for Trinity Street Capital Partners, “The availability of non-recourse, hospitality financing continues to dry up across the United States, as massive new hotel construction over the last few years, now comes online.” Trinity Street is currently evaluating several hundred million of senior, mezz and preferred equity requests on Hilton, Marriott and IHG limited and full service properties around the United States and is committed to expanding its hotel finance business.
Trinity Street Capital Partners focuses on non-recourse, high leverage senior & subordinate debt and preferred equity, with investments starting at $5MM on income producing retail, office, industrial, multifamily, manufactured housing communities, self-storage and hospitality properties located throughout the continental United States. (www.trinitystreetcp.com)
The Firm is a leader in commercial mortgages and equity for wide range of real estate transactions.
Trinity Street Capital Partners, is wholly owned subsidiary of Trinity Street Holdings, a financial services conglomerate. (www.trinitystreetholdings.com)
For more information about Trinity Street Capital Partners and the services it provides, go to www.trinitystreetcp.com.
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