Hotels are an operating business inside a real estate loan. Capital Market Funds originates bank and CMBS debt for Arizona hospitality that can show trailing performance, and bridge for a flag conversion or a repositioning with a takeout. HUD is not the default hospitality program. We do not force a hotel into 223(f).
No hospitality tombstone is published. We will not borrow an office or multifamily amount and call it a hotel closing. Flag, market, and trailing twelve matter more than a city slogan. Scottsdale, Phoenix, and the rest of Maricopa are the same origination desk.
A sponsor who wants permanent debt on a hotel that is still in a turnaround will be told to use bridge or to wait. That is the point of shopping the stack instead of collecting an application for a box that will decline.
Sources for Arizona hospitality
- Bank and credit union
Portfolio hold when the relationship, not a securitization box, is the point.
- CMBS
Conduit or single-asset when life company or bank credit will not stretch.
- Bridge and private
Transitional capital sourced from private investors, with a takeout in mind.