Southern Realty Trust Originates $42.0 Million Senior Loan for the Thompson Hotel in San Antonio
2024年8月1日 - 9:00PM
Southern Realty Trust Inc. (“SRT” or the “Company”) today announced
that it originated and an affiliate of SRT agented a senior loan in
the aggregate amount of $42.0 million for the refinancing of the
Thompson San Antonio Hotel (the “Project”). The Sponsor is DC
Partners, a Houston-based real estate development and investment
firm specializing in luxury high-rise residential, mixed-use, and
hospitality projects. This marks the second transaction that SRT
has completed with DC Partners.
The Thompson San Antonio Hotel, located at 115 Lexington Avenue
in San Antonio’s Art District, is part of a 20-story mixed-use
development completed in 2020. The Project overlooks the San
Antonio Riverwalk and is near attractions such as the Tobin Center
for the Performing Arts. Spanning almost 140,000 square feet, the
Project features 162 luxury hotel rooms and offers a range of
amenities including two restaurants, a full-service spa, a gym and
5,000 square feet of conference facilities.
As the seventh most populous city in the United States, San
Antonio boasts a growing economy and hosts over 30 million visitors
annually, attracting both business and leisure travel. We believe
the Thompson San Antonio is exceptionally well-positioned to meet
the city's growing demand for upscale accommodations.
"We are delighted to support DC Partners with this second
transaction, continuing their growth in Texas. We believe that
being selected to provide financing for DC Partners again
illustrates our ability to provide flexible, timely financing
solutions tailored to our borrowers’ unique needs and our
commitment to growing with them," said Brian Sedrish, Chief
Executive Officer of SRT.
SRT holds $14.7 million of the deal, while $27.3 million was
syndicated to an affiliate.
About SRTSRT was formed in 2023 to originate
commercial real estate (“CRE”) debt investments in the Southern
U.S. and provide capital to high-quality borrowers and sponsors
with transitional business plans collateralized by top-tier CRE
assets with opportunities for near-term value creation, as well as
recapitalization opportunities. SRT intends to create a diversified
investment portfolio, targeting first mortgages, B-notes, mezzanine
loans and debt-like preferred securities across CRE asset classes.
For additional information regarding the Company, please visit:
www.theSRTgroup.com.
Forward-Looking StatementsCertain statements
contained in this press release, including those that express a
belief, expectation or intention, as well as those that are not
statements of historical fact, are forward-looking statements. The
Company’s forward-looking statements are generally accompanied by
words such as “intend,” “will,” “estimate,” “project,” “predict,”
“believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or
other words that convey the uncertainty of future events or
outcomes. Statements, among others, relating to San Antonio’s
growing economy and the Thompson San Antonio being well-positioned
to meet San Antonio’s growing demand for upscale accommodations are
forward-looking statements. Forward-looking statements contained in
this press release speak only as of the date of this press release.
The Company disclaims any obligation to update these statements
unless required by law, and the Company cautions you not to rely on
them unduly. The Company has based these forward-looking statements
on its current expectations and assumptions about future events,
which the Company considers reasonable. However, these
forward-looking statements are inherently subject to significant
business, economic, competitive, regulatory and other risks,
contingencies and uncertainties, most of which are difficult to
predict and beyond the Company’s control. Actual results and
performance in the future could differ materially from those set
forth in or implied by such forward-looking statements.
Investor Relations Contact:Robyn Tannenbaum
& Lana Ping561-510-2293 ir@thesrtgroup.com
Media Contact:Profile AdvisorsRich Myers &
Rachel Goun347-774-1125srt@profileadvisors.com