San Angelo Hotels Included in $126M Loan for Renovations

SAN ANGELO, TX – Two San Angelo hotels are part of a $126 million financing commitment provided by Access Point Financial (APF) to American Hotel Income Properties REIT LP (AHIP), a Vancouver-based real estate investment trust.

The funding will be used to refinance, renovate, and upgrade a portfolio of 12 select-service hotels across the United States.

The portfolio includes Residence Inn San Angelo and Home2 Suites San Angelo, along with properties in Texas, Minnesota, North Carolina, Pennsylvania, and other states. In total, the portfolio comprises 1,233 rooms across premium-branded hotels under Marriott, Hilton, and IHG.

“As evidenced by this transaction, APF is capable of virtually all levels of financial assistance, from a single asset $10 million bridge loan to more complex transactions to refinance an entire portfolio well north of $100 million,” said Michael I. Lipson, CEO & chairman of the board, APF. “We pride ourselves on being strategic capital partners who work hard to find the right solution for entrepreneurial, select-service hotel owners to large, institutional investors such as AHIP and everything in between.”

The $126 million commitment represents an average loan balance of approximately $102k per-key and $10.5 million per-property on the select-service portfolio of premium brands from Marriott, Hilton and IHG.

The hotel portfolio includes:

1. Residence Inn St. Paul Woodbury, Minn.
2. Residence Inn San Angelo, Texas
3. Fairfield Inn & Suites Asheboro, N.C.
4. Home2 Suites San Angelo, Texas
5. Courtyard Bismarck North, N.D.
6. Staybridge Suites Midland, Texas
7. TownePlace Suites Pittsburgh Airport / Robinson Township, Pa.
8. Residence Inn Mount Laurel at Bishop’s Gate, N.J.
9. Hampton Inn Asheboro, N.C.
10. Home2 Suites Midland, Texas
11. Courtyard St. Paul Woodbury, Minn.
12. Homewood Suites Kalamazoo-Portage, Mich.

“Access Point Financial is the capital solution for hotel sponsors who want a lending partner that knows them, understands the hotel marketplace and values flexibility, expertise, and true partnership,” said James Reivitis, chief development officer, APF.