Access Point Financial provides $126m. select-service portfolio loan to AHIP

ATLANTA – Officials of Access Point Financial (APF), a direct capital provider focused exclusively on the hospitality industry, announced the company has provided a total financing commitment on a fully funded loan amount of $126.0 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:

1. Residence Inn St. Paul Woodbury, Minn.
2. Residence Inn San Angelo, Texas
3. Fairfield Inn & Suites Asheboro, N.C.
4. Home2 Suites San Angelo, Texas
5. Courtyard Bismarck North, N.D.
6. Staybridge Suites Midland, Texas
7. TownePlace Suites Pittsburgh Airport / Robinson Township, Pa.
8. Residence Inn Mount Laurel at Bishop’s Gate, N.J.
9. Hampton Inn Asheboro, N.C.
10. Home2 Suites Midland, Texas
11. Courtyard St. Paul Woodbury, Minn.
12. Homewood Suites Kalamazoo-Portage, Mich.

 The $126 million commitment represents an average loan balance of approximately $102k 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.

Founded in 2011, Atlanta-based Access Point Financial (APF) is a direct, full-service specialty lender focused on the hospitality industry, offering a full-service lending & advisory platform that provides financing to qualified hotel franchisees of all major brands and independent boutique hotels throughout the United States.

American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.V), or AHIP, is a limited partnership formed to invest in hotel real estate properties across the United States. AHIP’s portfolio of premium branded, select-service hotels is located in secondary metropolitan markets that benefit from diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, and IHG through license agreements. AHIP’s long-term objectives are to build on its proven track record of successful investment, deliver monthly U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio.

The article Access Point Financial provides $126m. select-service portfolio loan to AHIP first appeared in TravelDailyNews International.