Since the Funds launch in late 2020, DLP has closed on more than $420 million of financings for high-quality hotels and sponsors across the country. The Westin brand is owned by Marriott International and requires a franchise hotel to have a certain amount of meeting space. Driftwood Capital, a real estate firm focused on hospitality investments, raised $250 million in GP capital for development, acquisitions and lending. Miami Worldcenter developer. Driftwood Title Driftwood Title Driftwood Title. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. MIAMIDriftwood Capital (formerly Driftwood Acquisitions & Development), a privately held real estate firm specializing in hospitality investments, is restructuring and scaling up its. Lamentamos pelo inconveniente. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de Married to Meredith for 25 years, Glenn is a proud dad to Logan, Cooper and Tanner. InvestingReview.org is not an investment adviser and is not endorsed by or affiliated with any U.S. or non-U.S. regulatory agency. Rodriguez Sr. said more are in the pipeline. We are also expanding our strategic partnerships with others in the market wherever we find synergies. Give me $60 million and I will gladly provide free meeting space and spend less than one percent on marketing my hotel. message, please email naar The Fund focuses on providing mezzanine loans and preferred equity for existing hospitality assets, as well as ground up hotel development projects in the United States. A vertically integrated team oversees all aspects of the investment and ownership process, seeking to provide a total alignment of interests with investors. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. Our model combines private equity sponsor knowledge with access to unique investments with the potential to generate high returns. Onze A vertically integrated commercial real estate firm with investment, development, lending and management platforms, Driftwoods unique business model provides accredited investors access to institutional-quality hotel assets or capital solutions on a direct deal basis following deal closing. Through its mezzanine lending division, the company is issuing loans in the $3 to $50 million range. The principals. MV Real Estate Holdings brought on its partner, Coral Gables-based Driftwood Capital to develop the 1.5-acre Miami River property at 114 Southwest North River Drive. los inconvenientes que esto te pueda causar. ESTES PARK, COLO. Driftwood Capital has arranged a $138.7 million financing package for two resort hotels in Estes Park on behalf of Grand Heritage Hotel Group. to let us know you're having trouble. He said the lending platform gives Driftwood Capital the ability to fulfill a growing niche for small-to-midsize loans in the hotel space. AboutPressCopyrightContact. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Wenn Driftwood Capital, formerly Driftwood Acquisitions & Development, is targeting development and acquisition deals across the country in the $30 million to $150 million range, said company chairman and CEO Carlos J. Rodriguez, Sr. Before moving over to private equity, Caroline worked at public relations agencies in her native New York, where she created launch and visibility programs for hotels, restaurants, government agencies, hospitals, colleges, real estate developers and more. Driftwood Capital is also building a $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, its largest project to date. 09:00 am - 05:00 pm. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. Driftwood Capital officially submitted its plans, back in late 2020, to the city planning board for its redevelopment of the International Palms Resort and Conference Center into a new 502-key . Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. During the conference, Rodriguez Sr. sat down with Jolyne Caruso-Fitzgerald, divisional vice chairman, global wealth management, at investment banking company UBS. Direct ownership in assets with value add opportunities. Brevard commissioners reject funding convention center study, with three of five opposed, Your California Privacy Rights/Privacy Policy. excuses voor het ongemak. 2023 France Publications, dba France Media Inc. Stanley Campus in Estes Park, Colo., features 192 guest rooms and 31 condominium units. ATLANTA, GA - Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired The. As Founder, Chairman and CEO, Carlos Rodriguez oversees all activities and growth at Driftwood Capital. It will cost $60 million plus interest! Individuals are urged to consult with their own professional advisers before making any investment decision. Superior Risk-Adjusted Returns in Hospitality, Directly from one of the countrys leading hospitality sponsors, San Diego Marriott Mission Valley - San Diego, CA. We are sorry for the inconvenience. las molestias. The Cocoa Beach Hotel Association voted against this idea; its time for the county commission to do the same. Caso continue recebendo esta mensagem, Since launching in 2015, Driftwood Acquisitions & Development placed more than $400 million in LP capital in both hotel acquisitions and developments across the United States, representing a portfolio of over $1 billion in assets that includes the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks, as well as the soon-to-open developments Canopy by Hilton West Palm Beach & Tempe and the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale. ein Mensch und keine Maschine sind. Brown Advisory Investment Solutions Group LLC. Mr. Rodriguez states his company has significant skin in the game. That skin is really the pound of flesh he is trying to extract from the county. Nous sommes dsols pour la gne occasionne. It should be fully vetted by the Tourist Development Council. He is a graduate of Florida International University with degrees in Business Administration and International Business and holds a real estate brokers license in the State of Florida. from Boston University. Caruso-Fitzgerald oversees a group of advisors who manage clients with $100 million and more to invest. It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. France Publications, dba France Media Inc. We are actively engaged in expanding our network of investors. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Thats why its so important to That great looking new building in Wiggins? Fixed-income benefits with low correlation to asset performance. She said 73% of the family offices who invest in real estate are doing it for yield, diversification and returns. scusiamo se questo pu causarti degli inconvenienti. I guess we are to be impressed with a proposed $300 million-plus project. When he gets a free moment, he enjoys tennis, golf, fly fishing, boating and cooking. We love our customers, so feel free to visit during normal business hours. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. Driftwood Capital is targeting development and acquisition deals across the country in the $30 million to $150 million range, though as evidenced by the company's planned $250 million, 502-key . Glenn has worked in the finance industry for his entire career, most recently as Chief Operating Office at GFI Capital Resources Group, a diversified full service real estate company specializing in development, hospitality, construction, finance, real estate and insurance brokerage. Use the CB Insights Platform to explore Driftwood Capital's full profile. Chief Legal Officer & General Counsel, Partner, Managing Director, Investor & Public Relations. Bob Baugher is president /owner of the Radisson Resort at the Port; Cocoa Beach Surf Company; Cocoa Beach Suites Hotel and equity partner in the SpringHill Suites Cape Canaveral and TownePlace Suites Cape Canaveral, currently under construction. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. Individuals are urged to consult with their own professional advisers before making any investment decision. Some of the company's hotels that have a longer road to recovery include the San Diego Marriott Mission Valley because of a renovation and the Hilton Durham near Duke University due to campuses being slower to ramp up. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. Tru by Hilton/Home2 Suites by Hilton under. Israel Kreps, [email protected] at Franklin & Marshall College and enjoys playing golf and soccer as well as running. Driftwood Capital (Driftwood), a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, has closed a $138.7 million financing package for two resort hotels located in Estes Park, Colorado on behalf of the sponsor Grand Heritage Hotel Group. Driftwood Capital is one of the countrys leading hospitality sponsors. The borrower will use a portion of the proceeds, $6.9 million, toward renovations of the Stanley Hotel in early 2022, including conversion of the ballroom to a restaurant; bathroom updates in the hotels main building; improvements to the presidential cottage; and investments in several new food and beverage venues and related amenities. Please help us protect Glassdoor by verifying that you're a The resort currently features nine one-bedroom/one-bathroom condos, 64 two-bedroom/two-bathroom condos, 12 three-bedroom townhomes, and four four-bedroom townhomes, all located near the banks of the Fall River, or perched up high with panoramic views of the Continental Divide. The sponsor will use a portion of the proceeds, $6.9 million, toward renovations of the Stanley Hotel in early 2022, including conversion of the ballroom to a restaurant, bathroom updates in the hotels main building, improvements to the presidential cottage, and investments in several new food and beverage venues and related amenities. in Business Administration the State University of New York (SUNY) Albany, and an MBA with an emphasis in finance and accounting from New York Universitys Leonard N. Stern School of Business. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. So do I and so do several other local hospitality companies. With a 30+ year track record in hospitality, an in-house operating capability, and deep relationships within the industry, we believe we've created one of the best-in-class, vertically integrated commercial real estate private equity firms focused on the hospitality sector. As far as shedding light on the project, that is exactly what has not happened in the 10 months since the idea was presented. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close investments across diverse markets and asset types, from name brands to boutique properties. The selection changes often, but if you love good Buying or selling a home is the largest financial investment most people ever make. Born in Kansas, John grew up in Indiana and earned a B.S. More: Brevard commissioners reject funding convention center study, with three of five opposed. Lamentamos As Managing Director of Investor & Public Relations, Caroline Lewittes oversees all channels of communications with investors and other key stakeholders. Driftwood is also a reputable leader in the EB-5 Investor program, a government initiative to attract foreign investment to create jobs in the U.S. For more information, please visit www.driftwoodcapital.com. Plus I think Driftwood Capital is a legit player in the hospitality space. Investment Adviser Firm Summary DRIFTWOOD CAPITAL, LLC ( CRD # 299088/SEC#:801-114262 ) DRIFTWOOD CAPITAL, LLC View latest Form ADV filed The investment adviser you have selected is NOT currently registered and is NOT filing reports with the SEC or any state. He earned a B.A. in International Business with a concentration in Economics, and a certificate in Markets & Management from Duke University. Since launching in 2015, Driftwood Capital placed more than $400 million in LP capital in both hotel acquisitions and developments across the United States, representing a portfolio of over $1 billion in assets. Be careful when someone says a $60 million investment wont cost you a penny. Speaking during the vertically integrated commercial real estate investment, development and lending platform's 2021 Investor Conference, Rodriguez Jr. said those goals included protecting the firm's downside, seeking out opportunities for transactions and planning for growth. The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors. ein Mensch und keine Maschine sind. He was previously head of Asset Management for Stonebridge Companies and para informarnos de que tienes problemas. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. I would like to see crypto as well in future (before was it but now I don't have anymore). Originally build in 1902 and most recently updated in 2018, the Stanley Hotel is located at 333 E. Wonderview Ave. With a 30+ year track record in hospitality, an in-house operating capability, and deep relationships within the industry, we believe we've created one of the best-in-class, vertically integrated commercial real estate private equity firms focused on the hospitality sector. Despite challenges from the pandemic, Driftwood Capital continues to add new hotels to its portfolio, such as with the Canopy by Hilton Tempe Downtown, Canopy by Hilton West Palm Beach Downtown and Home2 Suites by Hilton Ft. Lauderdale Downtown. om ons te informeren over dit probleem. First, we want to continue to meet the growing demand in the marketplace for alternative investments. in Finance from Vanderbilt University, a hospitality certificate from Cornell University, and an MBA from Duke Universitys Fuqua School of Business. The Investment Blacklist. Without a public subsidy, the free market will ultimately determine the best use of that property. message, contactez-nous l'adresse The spacious, modern Driftwood Capital executes $139M financing, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Trail Gazette Editorial: Voters need transparency about candidates and issues, Bruchwalski endorsed for fire district board, Alper, Foust and Workman endorsed for hospital board, Community teamwork makes for community success, Driftwood Capital executes $139M financing package of two Colorado resort hotels, Today A 20 percent chance of showers mostly sunny, with a high near 63, Aerosmith announces farewell tour; will kick off in Philadelphia, Peter Pan & Wendy review: A real-live adventure this time from Disneys recycling bin, Wendys beloved chili to be sold in grocery store cans this spring, Brought to you by Prairie Mountain Publishing, You can almost feel the earth moving in Estes Park, EVFPD rules 16 calls "inadequately" responded to in 2022, Hike of the Week: Lake Trails at St. Vrain State Park, Local Ukrainians share stories of war's toll, Estes Park Health offers a wide array of medical care, Runnng club hosts marathon and free community runs, Do Not Sell/Share My Personal Information. Operational performance distributions & upside participation benefits. "It's been a labor of love getting all the entitlements and getting all the zoning requirements met. Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners, LP (DLP), behind a $114.4 million senior financing package originated by a major life insurance company. Se continui a visualizzare Combining the two properties under single ownership will provide operational synergies at both hotels and further enhance the credit of Driftwoods position, said David Steiner, Driftwood Capitals Managing Director of Capital Markets. As Chief Legal Officer & General Counsel, Jorge L. Gomez-Moller leads Driftwood Capitals legal team and outside counsel in new acquisitions, developments, lending and dispositions, as well as asset-level legal issues. envie um e-mail para To encompass all new funds, the management team behind Driftwood Acquisitions & Development (DAD) has rebranded as Driftwood Capital. Conservative position in the capital stack. If you would like to report abuse by any of these brokers please click on the name of the . Driftwood Capital is a privately held real estate firm specializing in the acquisition, development, lending and investment syndication of institutional-quality hotels. Our relationship orientation is the basis for every counter-party with whom we transact. He expects the hotels will be cash-flow positive in 2022. Additionally, with this being a Marriott product, it fills a void in a Hilton-dominated market, he said. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. Tony Figueroa, [email protected] Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Get in touch with our agents today! Als u dit bericht blijft zien, stuur dan een e-mail Nous sommes dsols pour la gne occasionne. He was previously head of Asset Management for Stonebridge Companies and Woodbine Development, as well as Asset Manager for Maritz Wolff and Director of Finance for Marriott International. Relative to 2019, several hotels in Driftwood's portfolio are exceeding pre-pandemic performance, including the Hampton Daytona Beach/Beachfront, the DoubleTree by Hilton Historic District in St. Augustine, Hilton Dallas/Rockwall Lakefront and Margaritaville Lake Resort Lake of the Ozarks. Since then, Driftwood Capital has funded $50 million in loans across five hotels Hyatt Place Noma, two Cambria hotels in California, Home2 Suites Charlotte and Shashi Hotel Mountain View totaling 805 rooms. Upon the successful completion of this merger, David along with several of his executive team members left to launch Driftwood Hospitality Management, LLC. Since 2015, the principals of Driftwood Capital have transacted on more than $1.5 billion in hospitality assets backed by capital from an investor network of family offices, high-net-worth individuals and others. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). However, I dont believe that is a sustainable option as the property ages and degrades. "We've seen during the pandemic how global wealth has actually soared. Prior to Servico, David served as Vice President of Operations for Prime Hospitality. And this is a Westin franchise hotel. Contact Us. Fred Smith knows real estate. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. The common theme between these properties is they are in Sun Belt, resort-oriented destinations. I have been vocal in raising concerns about the idea and would like to address Mr. Rodriguezs pitch point-by-point. The firm's last reported SEC (U.S. Securities and Exchange Commission) status is listed as We find it a privilege to live and work in Brevard County, but if we all lined up for. Past performance is not a guarantee of future results. enva un correo electrnico a Since its inception, Driftwood Capital has transacted on more than $3 billion in hospitality assets, including new ground-up hotel development projects, cash-flowing hotels and hotel-backed loans, backed by an international network of more than 1,200 investors. Caso continue recebendo esta mensagem, Ground-up development, a 130-room suite-style beachfront hotel in Melbourne on Floridas Space Coast. Hotels that are under contract to sell include the Holiday Inn Express & Suites Orlando International Drive and the Sheraton Salt Lake City Hotel, which are both more business-oriented hotels. Alejandro enjoys cycling and hiking, and in a previous life, produced more than 100 music videos for the likes of such international stars as Ricky Martin, Shakira and Daddy Yankee. Yes, Driftwood has several hotels in the area. The public loses the multiplied benefits of these tax dollars. With these new funds, we will invest in a broader range of hospitality opportunities with longer time horizons to syndicate LP capital, ensuring greater volume, diversity, and security for our investor network, Rodriguez, Jr. said. As Chief Commercial Officer, Alejandro Navia is responsible for marketing and sales strategies for the firms investment products, including creating Driftwoods EB-5 Program. Prior to joining Driftwood, Alejandro worked as a real estate investment advisor to family offices, local banks and high-net-worth individuals. Join more than 1,200 accredited investors and start earning returns today. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. The number of clients served by it is unknown. Capital is an easy platform to use, amazing customer support, quite ok spreads and overnight fees and the app is quite easy. ESTES PARK, COLO. Driftwood Capital has arranged a $138.7 million financing package for two resort hotels in Estes Park on behalf of Grand Heritage Hotel Group. This firm has 2 employees, of which 2 are employees in advisory roles. para nos informar sobre o problema. He graduated Georgetown University with a B.A. A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL I build hotels and the numbers dont add up for me. Carlos began his career with LNR Property, the largest global CMBS special servicer and B-Piece loan buyer, working in various divisions including Surveillance, Asset Management, REO, and Special Resolutions. om ons te informeren over dit probleem. Your ticket to invest in institutional real estate deals. The county commission seems opposed, but with his dream team of lobbyists, former county commissioner and former county attorney, Mr. Rodriguez must feel he still has a shot.
