National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Smith Hill, Bain Capital Close $111M Loan on Hospitality Portfolio
Smith Hill Capital and Bain Capital Special Situations have closed on an approximately $111-million first mortgage loan secured by a portfolio of four hotel properties. The borrower was not disclosed. The 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 financing was originated and executed by the joint venture of Smith Hill and Bain Capital, which was formed in 2023 to serve the financing needs of hospitality companies and assets in demand-driven markets across the U.S.
“The closing of the loan for this hotel portfolio underscores our commitment to navigating the complexities of today’s financial market,” said Brendan McCormick, managing principal, Smith Hill Capital. “Our team’s deep understanding of the hospitality industry, combined with our partnership with Bain Capital, allowed us to structure a deal that met the needs of our borrower. It was a pleasure working with the sponsorship group, who was represented by the JLL Hotels & Hospitality team.”
Pictured: Marriott Bridgewater.
- ◦Financing
