ATLANTA—Stonehill has closed 14 transactions, totaling more than $175 million year-to-date this year. The company expects to close on an additional $125 million in deals by year’s end. The transactions include nine bridge loans, two note acquisitions, one preferred equity position and two permanent loan closings.
“The hotel industry continues to trend upwards, with both occupancy and ADR reaching historic highs, and forecasts predict this trajectory will continue,” said Mat Crosswy, principal with Stonehill. “This has led owners and investors to take advantage of the prevailing, favorable winds and invest in property improvements, acquisitions and ground-up development. With our team of experienced professionals, Stonehill is able to quickly provide the funding necessary to finalize deals and allow investors to make the most of their investments.”
In addition, Stonehill named Keegan Bisch VP of originations and opened an office in Los Angeles.
“Within the past five years, we have provided over $1 billion in financing, and we are working to maintain or exceed that aggressive pace moving forward,” said Brent LeBlanc, SVP with Stonehill. “To accommodate this growth, we are constantly evaluating new talent to improve our team. To that end, we have added industry veteran Keegan Bisch to bolster our origination team.”
In his new role, Bisch is responsible for transaction identification, analysis and origination for Stonehill funds. Prior to joining Stonehill, he was VP of debt & structured investments with Lowe Enterprise Investors, where he originated bridge and construction loans of $10 million to $75 million structured as stretch senior, mezzanine and preferred equity. He also worked for such lending organizations as New Group LLC, GoldmanSachs Commercial Mortgage Capital and Venture West Funding.