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 two resort hotels located in Estes Park, Colorado on behalf of the sponsor Grand Heritage Hotel Group. 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. Read employee reviews and ratings on Glassdoor to decide if Driftwood Capital is right for you. The selection changes often, but if you love good Buying or selling a home is the largest financial investment most people ever make. Chief Legal Officer & General Counsel, Partner, Managing Director, Investor & Public Relations. Thats why its so important to That great looking new building in Wiggins? 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. para informarnos de que tienes problemas. 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, Driftwood Capital Click to Rate or Add Salary Add Interview Add Benefits Glassdoor has 2 Driftwood Capital reviews submitted anonymously by Driftwood Capital employees. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail He is a native of Costa Rica and holds a B.S. As Founder and President of Driftwood Hospitality Management, David Buddemeyer oversees all operations and management of more than 80 hotels. Yes, Driftwood has several hotels in the area. In total, there are 2,750 billionaires around the world that in total control $13 trillion, up from $8 trillion in 2020, she said. enviando un correo electrnico a The information contained herein reflects the opinions and projections of Driftwood as of the date hereof, which are subject to change without notice at any time. enva un correo electrnico a Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. Not to mention the fact that the 25% of TDC funds used for beach re-nourishment has historically been matched 9-1. Driftwood Capital is targeting development and acquisition deals across the country in the $30 million to $150 million range, though as evidenced by the company's planned $250 million, 502-key . Second, we want to ensure we have a long runway ahead of us for future capital deployments.. pour nous faire part du problme. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. Driftwood is also a reputable leader in the EB-5 Investor program, a government initiative to attract foreign investment to create jobs in the U.S. For more information, please visit www.driftwoodcapital.com. Relative to 2019, several hotels in Driftwood's portfolio are exceeding pre-pandemic performance, including the Hampton Daytona Beach/Beachfront, the DoubleTree by Hilton Historic District in St. Augustine, Hilton Dallas/Rockwall Lakefront and Margaritaville Lake Resort Lake of the Ozarks. I would like to see crypto as well in future (before was it but now I don't have anymore). Driftwood does not represent that any opinion or projection will be realized. Brown Advisory Investment Solutions Group LLC. 120-Day Approval, with a registration date of Nov 7, 2018. He previously served as Vice President of Development for Driftwood Hospitality Management, where he oversaw ground-up construction for the company, while implementing a successful EB-5 financing program. Second, we want to ensure we have a long runway ahead of us for future capital deployments, explained Chairman & CEO Carlos J. Rodriguez, Sr. In addition, with the launch of our lending platform, we now have the ability to fulfill a growing niche for small to midsize loans in the hotel space., Our real estate asset syndication model has proven very successful and popular with investors. 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. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. 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. We are also expanding our strategic partnerships with others in the market wherever we find synergies. an. He said the lending platform gives Driftwood Capital the ability to fulfill a growing niche for small-to-midsize loans in the hotel space. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. If you continue to see this Then, we invite accredited investors to join us, coming into the deal at our basis. Born in Kansas, John grew up in Indiana and earned a B.S. But that is simply not how it works. to let us know you're having trouble. 2023 France Publications, dba France Media Inc. Stanley Campus in Estes Park, Colo., features 192 guest rooms and 31 condominium units. The sponsor will use a portion of the proceeds, $6.9 million, toward renovations of the Stanley Hotel in early 2022, including conversion of the ballroom to a restaurant, bathroom updates in the hotels main building, improvements to the presidential cottage, and investments in several new food and beverage venues and related amenities. "That was not an easy task to start ramping [up] during the pandemic," he said. A Coral Gables hotel development and financing company is aggressively scaling up its acquisitions and construction strategy. He has successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. Conservative position in the capital stack. in Finance from Vanderbilt University, a hospitality certificate from Cornell University, and an MBA from Duke Universitys Fuqua School of Business. He lives with his wife Lauren, son Chase and dog Addy. Click here to read: Hotel Investment Firm Gears up For 'Tsunami of Deals', CA: Ne pas vendre mes renseignements personnels, Prfrences en matire de fichiers tmoins, Gestionnaire des biens immobiliers CoStar. The principals of Driftwood Capital boast a 30+. We are guided by principles that inform not just our investment decisions, but all business interactions. Individuals are urged to consult with their own professional advisers before making any investment decision. message, please email The proceeds will cover the refinancing of the historic Stanley Hotel, along with the acquisition of the nearby Fall River Village Resort, an 89-room lodge. Lamentamos Tony Figueroa, afigueroa@krepspr.com We are sorry for the inconvenience. para nos informar sobre o problema. 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. 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. Additionally, with this being a Marriott product, it fills a void in a Hilton-dominated market, he said. The proceeds cover the refinancing of the historic Stanley Campus, which has four lodging options comprising 192 guestrooms and 31 condo units, along with the acquisition of the nearby Fall River Village Resort, an 89-key upscale lodge. in Government and English and earned his J.D. Driftwood provides . Unfortunately, every day there are Investment brokers looking to scam unsuspecting victims. Driftwood Capital has purchased the Scottsdale (Ariz.) Resort at McCormick Ranch, a 326-room property in the McCormick Ranch neighborhood. 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. Als u dit bericht blijft zien, stuur dan een e-mail Disculpa 526 Brevard Avenue, Cocoa, Florida 32922, United States. So do I and so do several other local hospitality companies. 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. He graduated Georgetown University with a B.A. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. Open today. 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. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. at Franklin & Marshall College and enjoys playing golf and soccer as well as running. Mr. Rodriguez states his company has significant skin in the game. That skin is really the pound of flesh he is trying to extract from the county. Si continas recibiendo este mensaje, infrmanos del problema The property has over 25,000 square feet of meeting and event space, multiple food and beverage venues, a spa, and a 550-person concert venue, The Stanley Live. naar Please enable Cookies and reload the page. It is a TX Limited Liability Company. Since its inception, Driftwood Capital has transacted on more than $3 billion in hospitality assets, including new ground-up hotel development projects, cash-flowing hotels and hotel-backed loans, backed by an international network of more than 1,200 investors. We are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. las molestias. para nos informar sobre o problema. A vertically integrated team oversees all aspects of the investment and ownership process, seeking to provide a total alignment of interests with investors. Caroline lives in Boca Raton with her husband and children, and enjoys tennis, cooking, travel and reading. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. If you continue to see this Its the new home of High Plains Bank in Wiggins. It should be fully vetted by the Tourist Development Council. Driftwood Capital is one of the countrys leading hospitality sponsors. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. It is not found money; it is called the cost of doing business and paying your fair share. Overview 63 Reviews 14 Jobs 71 Salaries 9 Interviews 15 Benefits -- Photos 22 Diversity + Add a Review Driftwood Hospitality Management Reviews Updated Mar 5, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 63 of over 63 reviews Sort Popular Popular COVID-19 Related ESTES PARK, COLO. Driftwood Capital has arranged a $138.7 million financing package for two resort hotels in Estes Park on behalf of Grand Heritage Hotel Group. Plus I think Driftwood Capital is a legit player in the hospitality space. excuses voor het ongemak. As a recent TDC member, it was difficult to get straight answers on what was being proposed and a specific breakdown of the $320 million supposedly being invested in the project. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Your ticket to invest in institutional real estate deals. Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. Combining the two properties under single ownership will provide operational synergies at both hotels and further enhance the credit of Driftwoods position, said David Steiner, Driftwood Capitals Managing Director of Capital Markets. Ci Built between 1902 and 2018, and located at 333 E Wonderview Ave, the Stanley Campus is an iconic property situated on 68 acres with 14 buildings, 192 guestrooms, and 31 condo units situated across four distinct lodging options: The Stanley, which is the original historic hotel; The Lodge, updated historic rooms with a boutique feel; Aspire, modern apartment-style rooms featuring kitchenettes; and The Residences, fully equipped one- to three-bedroom residences. Si vous continuez voir ce She is a graduate of Boston Universitys College of Communications, where she earned a B.S. Driftwood Capital (formerly known as Driftwood Acquisitions & Development) is a Coral Gables, Florida-based company with a first-of-its-kind business model allowing accredited investors to co-invest in institutional quality hotel assets at an attractive basis (minimum $50,000 investment). Onze "Believe it or not, that's been the theme of 2021; despite not having cash flow, people are coming around to finding and hunting for yields," he said. He continued, Adding two hotels to DLPs portfolio that were resilient during the pandemic and are poised for future growth was a great way to round out 2021.. This firm has 2 employees, of which 2 are employees in advisory roles. message, please email 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. Rockbridge acquired the property from the original . 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. He currently serves as a member of the Board of Advisors of First American Bank for Florida, the Baptist Hospital/ Miami Neuroscience Institute Board, the Latin Hotel Owners Association Board, as well as a member of the Board of Advisors of Duke Universitys Fuqua School of Business, the R. Motwani Family Academy of Hospitality & Tourism Management at Broward College, the MRED+U Advisory Board of the University of Miami, and a member of Marriotts Bridging the Gap Steering Committee. We are guided by principles that inform not just our investment decisions, but all business interactions. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capitals portfolio of hotels. Driftwood Capital targets deal level returns in excess of 15% IRR and average dividends over 8% for LP investors. A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL Built in 2000 and renovated in 2018, Fall River Village Resort is located at 200 Filbey Court. Additionally, Driftwood Capital has strengthened its management team to help position it as a leader in the marketplace, and recently hired David Steiner as Managing Director of Capital Markets, Nelson Parker as Managing Director of Development, and Paul Sacco as Chief Investment Officer. It will cost $60 million plus interest! Direct ownership in assets with value add opportunities. 09:00 am - 05:00 pm. Neither the Website nor any of its content is offered as investment, legal, or tax advice and should not be deemed as investment, legal, or tax advice or a recommendation to purchase or sell any specific security. He enjoys swimming, waterskiing and hanging out at dog parks with his dog. . Aydanos a proteger Glassdoor verificando que eres una persona real. Israel Kreps, ikreps@krepspr.com Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Si continas viendo este mensaje, Copyright 2019 by InvestingReview.org / All Rights Reserved. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). 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. It shows us what kind of community partner they really are. Prior to joining Driftwood, Alejandro worked as a real estate investment advisor to family offices, local banks and high-net-worth individuals. 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. According to the Harvard Business Review, public-private partnership (P3) projects are where businesses supplement public investment in return for reaping rewards such as tolls and fees. And many P3 projects go off the rails. The first p stands for public,"and the county commission should have approved the TDC recommendation for a study to determine if there is truly a need for a public convention center. Contact: Melinda Sherwood msherwood@krepspr.com / Subscribe to the one-and-only Hotel-Online! Tru by Hilton/Home2 Suites by Hilton under. "We've seen during the pandemic how global wealth has actually soared. All the properties are managed by company affiliate Driftwood Hospitality. Si continas viendo este mensaje, When he gets a free moment, he enjoys tennis, golf, fly fishing, boating and cooking. envie um e-mail para "To achieve that [internal rate of return], even without the cash flow that we had the [past] couple of years, is attractive," he added. Despite challenges from the pandemic, Driftwood Capital continues to add new hotels to its portfolio, such as with the Canopy by Hilton Tempe Downtown, Canopy by Hilton West Palm Beach Downtown and Home2 Suites by Hilton Ft. Lauderdale Downtown. The best home improvement jobs deserve the best materials. Caso continue recebendo esta mensagem, Our relationship orientation is the basis for every counter-party with whom we transact. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. Rodriguez Sr. highlighted the $350 million development of the Westin Cocoa Beach Resort & Spa in Cocoa Beach, Florida, which his team has been working on for the past five years. Investment Adviser Firm Summary DRIFTWOOD CAPITAL, LLC ( CRD # 299088/SEC#:801-114262 ) DRIFTWOOD CAPITAL, LLC View latest Form ADV filed The investment adviser you have selected is NOT currently registered and is NOT filing reports with the SEC or any state. The common theme between these properties is they are in Sun Belt, resort-oriented destinations. Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. The company holds stakes in some 25 hotels, including two that just opened in West Palm Beach and Fort Lauderdale. Carlos began his career with LNR Property, the largest global CMBS special servicer and B-Piece loan buyer, working in various divisions including Surveillance, Asset Management, REO, and Special Resolutions. Carlos Rodriguez Sr., founder chairman and CEO of Driftwood Capital, said his company has four hotel development deals now totaling 916 rooms with $488 million in development cost. *Includes hotels of Driftwood Capital and controlled subsidiaries. from Boston University. No one business should be exempt;none treated differently. For more information, visit www.driftwoodcapital.com. The common . Get in touch with our agents today! Speaking during the vertically integrated commercial real estate investment, development and lending platform's 2021 Investor Conference, Rodriguez Jr. said those goals included protecting the firm's downside, seeking out opportunities for transactions and planning for growth. In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. Global wealth was up 8.3% to $250 trillion," she said, noting billionaires are structurally changing the way investment is happening. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Aydanos a proteger Glassdoor verificando que eres una persona real. The Westin brand is owned by Marriott International and requires a franchise hotel to have a certain amount of meeting space. "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. Since the Funds launch in late 2020, DLP has closed on more than $420 million of financings for high-quality hotels and sponsors across the country. 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, added President & COO Carlos Rodriguez, Jr. We are actively engaged in expanding our network of investors. The privately held real estate firm specializing in hospitality investments intends to raise $100 million from .