Driftwood Capital closes $1.2B portfolio consolidation
🏨 Driftwood Capital finalized a $1.2-billion hotel consolidation, combining 18 hotels with 4,203 rooms across 10 states. Properties include Hilton, Marriott, and Margaritaville brands, with locations in California, Texas, Florida, and more. Financing involved a $330 million senior loan by Wells Fargo and $85 million in preferred equity from ACORE Capital, which manages $19 billion. Notable hotels in the portfolio are Margaritaville Lake Resort with 520 rooms and Marriott San Diego Mission Valley with 353 rooms.
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