P
eachtree Group's credit team has reached a significant milestone, surpassing $1 billion in year-to-date loan originations. The firm is on track to reach $1.75 billion by the end of 2024. This achievement underscores Peachtree's position as a leading provider of diverse financing solutions, including permanent, bridge and mezzanine loans, CPACE financing, and preferred equity across various sectors.
According to Jared Schlosser, executive vice president of hotel lending and head of CPACE, "While the Federal Reserve has lowered rates, commercial real estate will face significant challenges over the next few years." Peachtree's leadership team includes CEO Greg Friedman, CFO Jatin Desai, and principal Mitul Patel.
Private credit lenders like Peachtree are well-positioned to fill the funding gap left by traditional capital sources due to trillions in debt maturities. Schlosser notes that private credit lenders have seen a significant shift in capital markets, supporting the industry as it faces rising debt maturities potentially reaching $1.5 trillion through 2025.
Hotels dominated Peachtree's year-to-date credit transactions with over $639 million, a 176% increase from the same period last year. Multifamily originations followed, comprising 80% of total credit transactions. Notable deals include:
* A $47 million first mortgage loan for a multifamily property in Bradenton, Florida
* A $41.9 million first mortgage loan for a Kimpton Sylvan hotel in Atlanta, Georgia
* $40 million CPACE financing for an AC hotel in San Diego, California
"Peachtree has built a strong financial foundation, enabling it to support commercial real estate owners in securing funding for acquisitions, recapitalizations, and development projects," Schlosser said. Under his leadership, Peachtree's hotel originations have exceeded $1.5 billion since early 2022.
