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Seattle Hotel Gets Loan as Part of Broadshore Investment Program
Broadshore Capital Partners has announced the formation of a $150 million hospitality investment program that will invest debt and equity through originating new high-yield financings, acquiring loans and making direct equity investments. Broadshore also announced a $20 million mezzanine construction loan to RevPAR Companies for the development of the 200-key AC Hotel by Marriott in the South Lake Union district of Seattle.
“We believe the general recovery of the hospitality industry from the pandemic-fueled setbacks present significant opportunities for our new investment program,” said Brad Howe, Broadshore’s CEO. “Our experience as a hospitality investor and lender, positions us to capitalize on what we view as a sizable market opening.”
Broadshore is partnering with a global alternative investment manager in the formation of the $150 million program, as the joint venture targets loan originations, performing and non-performing loan purchases and hotel acquisitions in the range of $10 – $75 million.
- ◦Financing
