DENVER—HREC Investment Advisors is expanding its mortgage brokerage platform, forming a capital markets group within its hotel brokerage platform.
The Hotel Capital Markets Group, also known as HREC H-CAP, will continue to focus on arranging acquisition debt, refinance, structured finance utilizing subordinate debt and preferred equity and other forms of capital. While HREC Investment Advisors is best known for orchestrating the sale of over 700 hotels, the HREC Capital Markets Group also has arranged in excess of $6 billion of hotel debt for clients.
Mike Armstrong, principal in the San Diego office who will co-manage the capital markets group, stated, “The expansion of our capital markets practice positions us well to serve our clients with the strong recovery of the hospitality industry and the return to a relatively normal financing environment. The return of commercial banks, and especially CMBS, has created an excellent opportunity for our clients to refinance maturing loans and/or obtain acquisition financing at historically low rates.”
A new addition for HREC H-CAP is Jake Stahler, who will be based in the New York office as SVP/Capital Markets. He most recently covered CMBS conduit lending in the Northeast for Deutsche Bank and was with a mortgage REIT prior to that.