Access Point Financial (APF), a direct capital provider focused exclusively on the hospitality industry, has provided a total financing commitment on a fully funded loan amount of $126 million to American Hotel Income Properties REIT LP (AHIP), a publicly traded real estate investment trust located in Vancouver, Canada. The monies will be used to refinance, renovate and upgrade a portfolio of 12 premium-branded, select-service hotels totaling 1,233 rooms across the U.S.
“As evidenced by this transaction, APF is capable of virtually all levels of financial assistance, from a single asset $10 million bridge loan to more complex transactions to refinance an entire portfolio well north of $100 million,” said Michael I. Lipson, CEO/chairman of the board, APF. “We pride ourselves on being strategic capital partners who work hard to find the right solution for entrepreneurial, select-service hotel owners to large, institutional investors such as AHIP and everything in-between.”
The hotel portfolio includes:
- Residence Inn St. Paul Woodbury, MN
- Residence Inn San Angelo, TX
- Fairfield Inn & Suites Asheboro, NC
- Home2 Suites San Angelo, TX
- Courtyard Bismarck North, ND
- Staybridge Suites Midland, TX
- TownePlace Suites Pittsburgh Airport / Robinson Township, PA
- Residence Inn Mount Laurel at Bishop’s Gate, NJ
- Hampton Inn Asheboro, NC
- Home2 Suites Midland, TX
- Courtyard St. Paul Woodbury, MN
- Homewood Suites Kalamazoo-Portage, MI
The $126 million commitment represents an average loan balance of approximately $102,000 per key and $10.5 million per property on the select-service portfolio of premium brands from Marriott, Hilton and IHG.
“Access Point Financial is the capital solution for hotel sponsors who want a lending partner that knows them, understands the hotel marketplace and values flexibility, expertise, and true partnership,” said James Reivitis, chief development officer, APF.
