The buckets in which these individuals are active include investing in private equity, and according to a survey UBS conducts each year, 85% plan to increase their allocations to private equity. Driftwood Capital is also building a $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, its largest project to date. Driftwood Capital, formerly Driftwood Acquisitions & Development, is targeting development and acquisition deals across the country in the $30 million to $150 million range, said company. enviando un correo electrnico a Born in Costa Rica, Carlos came to the United States when he was nine years old. Prior to joining Driftwood in 2018, Jorge practiced law at Greenberg Traurig, LLP, where he represented clients in private equity fund formations, complex joint ventures, and cross-border mergers and acquisitions. A vertically integrated commercial real estate firm with investment, development, lending and management platforms, Driftwoods unique business model provides accredited investors access to institutional-quality hotel assets or capital solutions on a direct deal basis following deal closing. Since 2015, the principals of Driftwood Capital have transacted on more than $1.5 billion in hospitality assets backed by capital from an investor network of family offices, high-net-worth individuals and others. The proceeds . We are sorry for the inconvenience. MIAMIDriftwood Capital (formerly Driftwood Acquisitions & Development), a privately held real estate firm specializing in hospitality investments, is restructuring and scaling up its. Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners, LP (DLP), behind a $114.4 million senior financing package originated by a major life insurance company. Aydanos a proteger Glassdoor y demustranos que eres una persona real. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. Wenn We are sorry for the inconvenience. Please help us protect Glassdoor by verifying that you're a Company raises three new GP fund vehicles: Development, Acquisitions & Mezzanine Lending. Prior to joining Driftwood, Alejandro worked as a real estate investment advisor to family offices, local banks and high-net-worth individuals. With a 30+ year track record in hospitality, an in-house operating capability, and deep relationships within the industry, we believe we've created one of the best-in-class, vertically integrated commercial real estate private equity firms focused on the hospitality sector. We then bring our extensive experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality. The resort currently features nine one-bedroom/one-bathroom condos, 64 two-bedroom/two-bathroom condos, 12 three-bedroom townhomes, and four four-bedroom townhomes, all located near the banks of the Fall River, or perched up high with panoramic views of the Continental Divide. Wenn It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. Alejandro enjoys cycling and hiking, and in a previous life, produced more than 100 music videos for the likes of such international stars as Ricky Martin, Shakira and Daddy Yankee. We love our customers, so feel free to visit during normal business hours. message, please email Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Glenn has worked in the finance industry for his entire career, most recently as Chief Operating Office at GFI Capital Resources Group, a diversified full service real estate company specializing in development, hospitality, construction, finance, real estate and insurance brokerage. Originally build in 1902 and most recently updated in 2018, the Stanley Hotel is located at 333 E. Wonderview Ave. Born in Kansas, John grew up in Indiana and earned a B.S. The principals. Driftwood Capital is one of the countrys leading hospitality sponsors. Many people have been burned by frauds and Ponzi schemes. There were 493 new billionaires in 2021, compared to 2020. He is the recipient of numerous industry awards such as Entrepreneur of the year for the Doral Chamber of Commerce, the National Excellence in Construction award from the Associated Builders and Contractors Inc., the Lifetime Achievement Award from Hilton, Hotelier of the Year for the Latin Hotel Owners Association, Developer of the Year for various hotel brands, among many other recognitions that he has received throughout his life. Si continas viendo este mensaje, If they decide to continue to operate the International Palms, then so be it. This firm has 2 employees, of which 2 are employees in advisory roles. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. Individuals are urged to consult with their own professional advisers before making any investment decision. Fred Smith knows real estate. A project of this magnitude requesting $60 million of public funds should have numerous hearings with public input. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. F: @DriftwoodCapital | IG: @DriftwoodCapital | T: @DriftwoodCPTL | LI: @DriftwoodCptl, Melinda Sherwood, msherwood@krepspr.com Since launching in 2015, Driftwood Capital placed more than $400 million in LP capital in both hotel acquisitions and developments across the United States, representing a portfolio of over $1 billion in assets. We then bring our extensive experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality. from Purdue University and an MBA from Dukes Fuqua School of Business. He said Driftwood Capital will also be issuing loans in the $3 million to $50 million range through its mezzanine lending division. pour nous faire part du problme. During his eight-year tenure as the companys Executive Vice President, which began in 1990, he was responsible for all facets of Servicos operations. I can finally tell you we're there," he said. Without a public subsidy, the free market will ultimately determine the best use of that property. 2023 France Publications, dba France Media Inc. Stanley Campus in Estes Park, Colo., features 192 guest rooms and 31 condominium units. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. The 316-room Hyatt Regency Fairfax will be rebranded as a full-service Hilton hotel Washington, D.C. (May 19, 2021) - Driftwood Capital, a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality, announced today that it has acquired the Hyatt Regency Fairfax, a 316-key hotel located in the Washington D.C. submarket of Fairfax, Our dedicated team is here to answer all your questions and make the investing process effortless. Be careful when someone says a $60 million investment wont cost you a penny. The firm's last reported SEC (U.S. Securities and Exchange Commission) status is listed as The Cocoa Beach Hotel Association voted against this idea; its time for the county commission to do the same. Situated on 68 acres, the property features 14 buildings withfour lodging options comprising 192 guest rooms and 31 condominium units. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. There's been a tremendous decline in investing in funds and a vast increase in private direct deals, she said. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Managing the portfolio of Coral Gables, Florida-based Driftwood Capital is no easy task, but founder, President and Chief Operating Officer Carlos Rodriguez Jr. said the company continues to achieve goals for further growth. in Business Administration the State University of New York (SUNY) Albany, and an MBA with an emphasis in finance and accounting from New York Universitys Leonard N. Stern School of Business. Hotels that are under contract to sell include the Holiday Inn Express & Suites Orlando International Drive and the Sheraton Salt Lake City Hotel, which are both more business-oriented hotels. Under Davids leadership, the company grew from 28 hotels to 140 hotels and from $42M to $650M in sales, with EBITDA growing at a compound annual rate of 41%, from $16M to $280M. He is a native of Costa Rica and holds a B.S. Driftwood Capital, a real estate firm focused on hospitality investments, raised $250 million in GP capital for development, acquisitions and lending. He lives with his wife Lauren, son Chase and dog Addy. Driftwood Capital Completes Staybridge Suites Hotel in Downtown Wilmington, Delaware Located at 1220 N. Market Street in Downtown Wilmington, the 11-story property features 134 suite-style accommodations, a lounge, fitness center, sundries shop and a business center with meeting spaces designed for today's business and leisure travelers. Savvy Developers Stay Active Even When the Easy Willy Walker, CEO of Walker & Dunlop, Outlines Capital Flow Issues, Market Pressures with Economist Dr. Peter Linneman, Amid Institutional Inertia, New Opportunities Arise for Smaller SFR Investors If They Can Access Capital, Pavlov Media Ramps Up Multifamily, Student Housing Fiber Expansion with Equity Partner, Baltimores Retail Market Is Showing Resiliency Post-Pandemic, Industrial Market Stays Elevatedin Northern Nevada, Omaha Office Market Is Somewhat Insulated from Broader Economic Conditions, Texas Office Owners Shift Priorities from Maximizing Rent to Showcasing Occupancy, Vibrancy, Slowdown in Leases, Development Help Baltimore Office Market to Rightsize, Local Business is Renos Primary Office Driver, InterFace Healthcare Real Estate Carolinas 2023, InterFace Southern California Desert Commercial Real Estate 2023. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capital's portfolio of hotels. Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners, behind a $114.4 million senior financing package originated by a major life insurance company. Since launching in 2015, Driftwood Acquisitions & Development placed more than $400 million in LP capital in both hotel acquisitions and developments across the United States, representing a portfolio of over $1 billion in assets that includes the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks, as well as the soon-to-open developments Canopy by Hilton West Palm Beach & Tempe and the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale. 526 Brevard Avenue, Cocoa, Florida 32922, United States. It shows us what kind of community partner they really are. All the properties are managed by company affiliate Driftwood Hospitality. Please help us protect Glassdoor by verifying that you're a Before moving over to private equity, Caroline worked at public relations agencies in her native New York, where she created launch and visibility programs for hotels, restaurants, government agencies, hospitals, colleges, real estate developers and more. Driftwood Capital also has been active with dispositions. With these new funds, we will invest in a broader range of hospitality opportunities with longer time horizons to syndicate LP capital, ensuring greater volume, diversity, and security for our investor network, Rodriguez, Jr. said. in International Business with a concentration in Economics, and a certificate in Markets & Management from Duke University. I would like to see crypto as well in future (before was it but now I don't have anymore). Lamentamos pelo inconveniente. To encompass all new funds, the management team behind Driftwood Acquisitions & Development (DAD) has rebranded as Driftwood Capital. Finally, our experience in the hospitality sector is paramount to our collective success. "They want to use their expertise as asset owners and entrepreneurs to really affect change in the companies that they are investing in," she added. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. Real estate is 15% of the average asset allocation of these family offices surveyed. Our model combines private equity sponsor knowledge with access to unique investments with the potential to generate high returns. in Finance from Vanderbilt University, a hospitality certificate from Cornell University, and an MBA from Duke Universitys Fuqua School of Business. Driftwood Capital is targeting development and acquisition deals across the country in the $30 million to $150 million range, though as evidenced by the companys planned $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, Fla., they have the capacity to take on larger projects. If the Brevard County Commission wants to give this idea serious consideration, its time for a full public vetting of the project with a clear understanding of the real costs, terms and conditions. If you continue to see this Internet Explorer presents a security risk. Miami Worldcenter developer. Lamentamos Driftwood Capital ("Driftwood"), a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, has closed a $138.7 million financing package for. Si continas recibiendo este mensaje, infrmanos del problema We are actively engaged in expanding our network of investors. om ons te informeren over dit probleem. DealDirect. It is a TX Limited Liability Company. Near that property is the development site for the Element Melbourne Beach, which he said is another deal that has great potential due to the market's diverse demand drivers, as well as a lack of any other new beachfront hotels and extended-stay hotels. message, contactez-nous l'adresse Driftwoods in-house team of experts oversee deal sourcing, underwriting, financing, asset management, operations, development and legal issues, ensuring a total alignment of interests with investors. Prior to Servico, David served as Vice President of Operations for Prime Hospitality. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns.
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