NEW YORK—Mesa West Capital has offered a three way partnership led by Regent Companions (Regent) and Mariner Group (Mariner) with $50 million in short-term first mortgage debt to refinance Thompson Savannah, a 193-key luxurious lodge in Savannah, Georgia.
The five-year, non-recourse financing takes out the unique development mortgage on the lodge, a boutique life-style model of Hyatt Lodges developed by three way partnership companions Regent, Mariner, and Cadre and opened in August 2021.
The lodge sits on the southern financial institution of the Savannah River on the nexus of Savannah’s Historic District and the newly developed Jap Wharf neighborhood. The lodge has a signature restaurant, bakery, two bars, pool with personal cabanas, health and wellness heart, and 11,000 sq. ft of assembly area.
“This financing was a chance to offer a average leverage mortgage in opposition to a lately delivered, high-quality full-service lodge in one of many prime vacationer locations within the nation,” stated Mesa West’s Russell Frahm, who led the New York-based origination workforce together with Pamir Niaz and Jacob Rosen. “The Thompson Savannah has continued to generate spectacular progress in the important thing hospitality metrics together with occupancy, RevPar, and ADR over the previous two years.”
The lodge’s efficiency is a mirrored image of the tourism business’s post-pandemic restoration in Savannah. The financing was organized by Jared Kelso, Steve Michels, and Lauren Greenberg within the New York workplace of Berkadia’s Resort and Hospitality Group.
