Mesa West Capital has provided a joint venture led by Regent Partners and Mariner Group with $50 million in short-term first mortgage debt to refinance Thompson Savannah, a 193-key luxury hotel in Savannah, GA.
The five-year, non-recourse financing takes out the original construction loan on the hotel, a boutique lifestyle brand of Hyatt Hotels, which opened in August 2021.
The hotel sits on the southern bank of the Savannah River between Savannah’s Historic District and the newly developed Eastern Wharf neighborhood. The hotel features a signature restaurant, bakery, two bars, a pool with private cabanas, a fitness center, a wellness center and 11,000 sq. ft. of meeting space.
“This financing was an opportunity to provide a moderate leverage loan against a recently delivered, high-quality full-service hotel in one of the top tourist destinations in the country,” said Mesa West’s Russell Frahm, who led the New York-based origination team along with Pamir Niaz and Jacob Rosen. “The Thompson Savannah has continued to generate impressive growth in the key hospitality metrics, including occupancy, RevPAR, and ADR over the past two years.”
The financing was arranged by Jared Kelso, Steve Michels and Lauren Greenberg in the New York office of Berkadia’s Hotel and Hospitality Group.
