updated - September 23, 2020 Wednesday EDT
Trinity Street Capital Partners (TSCP), a full service real estate investment bank, announces the origination of a $25MM mortgage on an limited service, Home2 Suites property located in Long Island City, New York. Home2 Suites is Hilton brand and is positioned as an extended stay product. The non recourse mortgage had a 10 year fixed term, 30 year amortization period, with no personal guarantees. The financing broke new ground in hospitality lending, with one of the highest loan/ key hotel mortgages, ever accomplished in the borough of Queens.
According to a senior underwriter at Trinity Street Capital Partners, "The availability of non-recourse, hospitality financing continues to dry up in the New York City MSA as the supply of new rooms grow every day. Despite the challenging market, TSCP was able to establish that the unique location, high quality construction, superior management & ownership, warranted a the lofty loan/ key. The principals of Trinity Street Capital Partners have been financing such hospitality franchises, as Hilton, Marriott, Wyndham, Choice, Starwood, Hyatt and Intercontinental Hotels Group (IHG), for the last 20 years and are committed to expanding its hotel finance business."
Trinity Street Capital Partners focuses on non-recourse, high leverage senior & subordinate debt and preferred equity, with investments starting at $5MM on income producing retail, office, industrial, multifamily, manufactured housing communities, self-storage and hospitality properties located throughout the continental United States.
The Firm is a leader in providing permanent mortgages and equity for wide range of real estate transactions.
Trinity Street Capital Partners, is wholly owned subsidiary of Trinity Street Holdings, a financial services conglomerate.
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