Bain Capital and Smith Hill Capital have closed on a first mortgage loan of around $111 million secured by a portfolio of four hotel properties.
The 954-room portfolio includes the Marriott Bridgewater in Bridgewater, New Jersey; W Atlanta Downtown; Embassy Suites Walnut Creek and Embassy Suites Flagstaff in Flagstaff, Arizona.
The financing was originated and executed by the joint venture of Smith Hill and Bain Capital, which was formed in 2023 to serve the financing needs of hospitality companies and assets in demand-driven markets across the U.S.
What they said
Brendan McCormick, managing principal, Smith Hill Capital said: “The closing of the loan for this hotel portfolio underscores our commitment to navigating the complexities of today’s financial market. Our team’s deep understanding of the hospitality industry, combined with our partnership with Bain Capital, allowed us to structure a deal that met the needs of our borrower. It was a pleasure working with the sponsorship group, which was represented by the JLL Hotels & Hospitality team.”