Two Estes Park Resort Hotels Lock in $139M Financing Package
Driftwood Capital recently closed a $138.7 million financing package for two resort hotels located in Estes Park, CO on behalf of the sponsor Grand Heritage Hotel Group. The proceeds cover the refinancing of the historic Stanley Campus, which has four lodging options comprising 192 guestrooms and 31 condo units, along with the acquisition of the nearby Fall River Village Resort, an 89-key lodge.
Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners LP, behind a $114.4 million senior financing package originated by a life insurance company. The sponsor will use a portion of the proceeds, $6.9 million, toward renovations of the Stanley Hotel in early 2022.
“Combining the two properties under single ownership will provide operational synergies at both hotels and further enhance the credit of Driftwood’s position,” said David Steiner, Driftwood Capital’s managing director of Capital Markets. “Adding two hotels to DLP’s portfolio that were resilient during the pandemic and are poised for future growth was a great way to round out 2021.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.