Stonehill Commercial Real Estate Group Completes $200 Million Loan

STONEHILL CRE, the commercial real estate group of investment firm Stonehill, has originated and purchased $200 million in its first mortgage since launching in the second quarter of 2022. Based on the pipeline deal, Stonehill CRE is targeting his $500 million+ deal in 2023.

Founded in May with Daniel Siegel as president, Stonehill CRE will work across all real estate sectors to navigate ongoing market volatility and enable property owners to execute their business plans, the company said. The purpose is that.To that feat, Stonehill placed his 10th^th It will be the largest hotel lender in the United States by 2021, according to the Mortgage Bankers Association. Based in Atlanta, Stonehill and Stonehill CRE are affiliates of the Peachtree Group, led by Jatin Desai and Mitul Patel as Managing Principals.

“Stonehill CRE’s formation was a coincidence when market conditions disrupted the commercial real estate lending environment,” said Siegel. “Traditional lenders have not only delayed lending to commercial real estate, they have tightened their underwriting standards so they can provide much-needed liquidity for maturing loans, new acquisitions and construction projects.”

Closed Stonehill CRE deals include:

• Opus Atlanta, a mixed-use development in Atlanta
• Retail centers in New Jersey and Kentucky
• Land Development Loans in South East Growth Markets
• Buying bad office loans in Washington DC

“Opus Atlanta is a great example of how Stonehill can initiate and close complex deals for multi-purpose development sites that traditional lenders would not typically consider executing,” Siegel said. “With our downside protected by one of the best remaining sites in the highly coveted submarket of Midtown Atlanta, we are able to complete this transaction on time for our borrowers. We were able to provide a certain degree of certainty.”

Stonehill CRE is also finalizing project deals for multifamily, office and rental building developments, as well as additional retail projects.

“All of our commercial real estate originations and transactions are consistent with our investment philosophy of deploying capital in a disciplined manner while providing owner groups with thoughtful capital solutions and execution certainty. ,” Siegel said.

In July, Stonehill initiated a $79.8 million, three-year, variable-rate bridge loan to New York-based Churchwick Partners to acquire a 12-property extended-stay hotel portfolio. The deal was premised on the long-stay hotel’s strong performance even during the pandemic.