Latest news: $167M loan for Concord JV; ex-Standard CEO’s move; Houston M&A

$167M to recap 15 WoodSpring Suites. A JV consisting of Raleigh, North Carolina-based Concord Hospitality and Westlake Village, California-based Whitman Peterson has closed a $167.67 million loan to recapitalize a portfolio of 15 WoodSpring Suites extended-stay properties in Florida, Michigan, North Carolina and Tennessee. This includes the initial funding of $117.67 million with an additional $50 million available for earn-out opportunities and potential expansion of the portfolio. Los Angeles-based CIM Group, through its CIM Real Estate Debt Solutions business on behalf of a CIM-managed fund, provided the loan funding.

Houston hotel acquired. Houston-based Saddlebrook Equity and Management and the Doggett Family Office have announced the acquisition of the St. Regis Houston in Texas. Upon acquisition, the property will be renamed The Houston Grand Hotel – River Oaks. The property will have an expansive, top-to-bottom renovation of all guest rooms, public spaces, and culinary venues. The hotel will relaunch as a flagship member of The Luxury Collection, maintaining its affiliation with Marriott. HEI Hotels & Resorts will assume management of the hotel.

Former Standard CEO joins law firm. A year after leading The Standard through its sale to Hyatt, former Standard International CEO Amber Asher has joined Helbraun Levey as a partner and chair to launch the law firm's newly formed hotel group. “I’ve always seen my greatest strength as a dealmaker, counselor, strategist, and problem-solver — someone who understands the business realities behind the legal work. As the hospitality industry continues to consolidate and new brands emerge, this role allows me to bring this strength to a challenging business, but one I deeply love,” she said.

Franklin Street, Hodges Ward Elliott join forces. Tampa, Florida-based Franklin Street said Hodges Ward Elliott (HWE), a hospitality-focused real estate capital advisor, has joined its platform. HWE specializes in institutional and private transactions and will continue to provide its services under its current name and brand. Over the last five years, HWE’s transaction team and capital markets team completed $17 billion in closed transactions, including 30 transactions of $100 million or larger and 175 hotels sold in the $25 million or under range, totaling $2.5 billion. HWE team members have joined existing Franklin Street offices in Atlanta, Dallas, Nashville, Orlando, and Tampa.

Sage to manage Indy Ritz-Carlton. Denver-based Sage Hospitality will manage the 176-key The Ritz-Carlton, Indianapolis, a new hotel that broke ground this week in downtown Indianapolis. The project is being developed by Boxcar Development LLC, in partnership with the Simon family, Marriott International, and Live Nation. It is scheduled to open in early 2028 in the former CSX Building in downtown Indianapolis.

New Hudson Valley resort. Emerson Hospitality has acquired and will redevelop Black Creek Barns, a historic 153-acre estate in Esopus, New York, into a 70-room resort that blends adaptive reuse and contemporary design. The redevelopment will restore six historic structures and introduce newly built cabins and suites, totaling 70 luxury accommodations. Located in Hudson Valley, just 90 miles north of New York City, and adjacent to the John Burroughs Black Creek Trail, a 2,000-acre protected nature area, Black Creek Barns sits on a former agricultural complex once owned by Colonel Oliver Hazard Payne and initially designed by Julian Burroughs, son of celebrated conservationist John Burroughs. The redevelopment is supported by a $38 million financing structure, arranged by IPA Capital Markets, which includes a $19 million construction loan from The LCP Group and a $19 million C-PACE facility from Imperial Ridge Real Estate Capital and PACE Loan Group. The resort scheduled to open in late 2027.

Trinity names new SVP. Trinity Investments has promoted Jake Lynch to senior vice president of Strategic Operations. In this expanded role, Lynch will continue to serve as a member of Trinity’s Strategic Operations team, overseeing several assets across the firm’s global hospitality portfolio. He brings more than 15 years of industry experience spanning asset management, investment, and operational leadership. Before joining Trinity, he served as an asset manager at BRE Hotels & Resorts, Blackstone’s hospitality investment and asset management platform.