H
ighside Companies, a Denver-based developer of extended stay hotels, has secured $500 million in financing from Apollo affiliates to fuel the growth of its Everhome Suites brand. This deal is one of the largest recent financings in the US midscale extended-stay sector.

    As an established leader in extended stay hotel development and other real estate asset classes, Highside Companies has over $1 billion in active projects across the US and Canada. The company plans to use this financing to expand its portfolio of Everhome Suites, supporting approximately 35 existing and new projects expected to be completed within the next five years.

    Highside is well-positioned to scale rapidly and deepen its footprint in high-growth submarkets where demand for extended stay accommodations continues to surge. "This transaction will allow us to accelerate the national rollout of our Everhome Suites development program," said Justin Roberts, CEO of Highside Companies. "We believe in the asset class and plan to build a diversified institutional-sized portfolio of extended stay assets over the next five to 10 years."

    Apollo partner Scott Weiner stated, "We're pleased to support Highside and Choice Hotels with this customized financing solution." Matt McElhare, vice president of Extended Stay Brands at Choice Hotels International, added, "This investment reinforces our shared commitment to delivering long-term growth and meeting the evolving needs of travelers, owners, and developers."

    Highside is actively pursuing additional partnerships and development opportunities across North America, aiming to grow its extended stay holdings to a nationally diversified portfolio exceeding $2 billion over the next decade. Stifel acted as Exclusive Financial Advisor and Sole Placement Agent to Highside in obtaining the financing package.