Then, we invite accredited investors to join us, coming into the deal at our basis. Se continui a visualizzare Yes, Driftwood has several hotels in the area. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. Through its mezzanine lending division, the company is issuing loans in the $3 to $50 million range. real person. Finally, our experience in the hospitality sector is paramount to our collective success. 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 . Carlos is the founder and former Chairman and CEO of Cardel Hotels, which merged with Driftwood Hospitality Management in 2003. "We're being very picky as to where we go for new development," he said. She said 73% of the family offices who invest in real estate are doing it for yield, diversification and returns. "It's during challenging times that you could unlock value, and it's about staying power in this industry.". But that is simply not how it works. Driftwood Capital is also building a $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, its largest project to date. I trade with Capital.com for over 4 years now and overall they are the best in UK for the moment. However, I dont believe that is a sustainable option as the property ages and degrades. per informarci del problema. 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, He also holds a certificate in Commercial Real Estate Analysis & Investment from the Massachusetts Institute of Technology (MIT) School of Architecture & Planning. He enjoys swimming, waterskiing and hanging out at dog parks with his dog. Brown Advisory Investment Solutions Group LLC. The borrower 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. Driftwood Capital is a privately held real estate firm specializing in the acquisition, development, lending and investment syndication of institutional-quality hotels. Si vous continuez voir ce If you continue to see this 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. 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. Driftwood Capital, a real estate firm focused on hospitality investments, raised $250 million in GP capital for development, acquisitions and lending. More: Brevard commissioners reject funding convention center study, with three of five opposed. los inconvenientes que esto te pueda causar. Carlos Rodriguez Jr., Driftwood Capitals president and chief operating officer, said the companys real estate asset syndication model has proven very successful and popular with investors. 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. With a 30+ year track record in hospitality, an in-house operating capability, and deep relationships within the industry, we believe we've created one of the best-in-class, vertically integrated commercial real estate private equity firms focused on the hospitality sector. 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. pour nous faire part du problme. Si continas recibiendo este mensaje, infrmanos del problema All economic and performance data is historical and must be considered in conjunction with applicable disclosures. Past performance is not a guarantee of future results. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. It shows us what kind of community partner they really are. Any business would love to use the sales and property taxes it generates for its own purpose. During this time, he managed more than $300 million in real estate investment transactions. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. We are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Driftwood's 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. Copyright 2019 by InvestingReview.org / All Rights Reserved. What Mr. Rodriguez is proposing is a private project using public dollars. InvestingReview.org does not provide investment advice. There's been a tremendous decline in investing in funds and a vast increase in private direct deals, she said. Chief Legal Officer & General Counsel, Partner, Managing Director, Investor & Public Relations. Aydanos a proteger Glassdoor y demustranos que eres una persona real. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. Read employee reviews and ratings on Glassdoor to decide if Driftwood Capital is right for you. This firm has 2 employees, of which 2 are employees in advisory roles. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. France Publications, dba France Media Inc. The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors. I have been vocal in raising concerns about the idea and would like to address Mr. Rodriguezs pitch point-by-point. 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. 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. Si vous continuez voir ce para nos informar sobre o problema. Driftwood Capital also has been active with dispositions. enviando un correo electrnico a MIAMIDriftwood Capital (formerly Driftwood Acquisitions & Development), a privately held real estate firm specializing in hospitality investments, is restructuring and scaling up its. The county commission seems opposed, but with his dream team of lobbyists, former county commissioner and former county attorney, Mr. Rodriguez must feel he still has a shot. Driftwood Capital Click to Rate or Add Salary Add Interview Add Benefits Glassdoor has 2 Driftwood Capital reviews submitted anonymously by Driftwood Capital employees. We then bring our extensive experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality. 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. Contact: Melinda Sherwood msherwood@krepspr.com / Subscribe to the one-and-only Hotel-Online! in communication. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. Avoid Fraud, Get The Facts, And Find The Best. scusiamo se questo pu causarti degli inconvenienti. The number of clients served by it is unknown. Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. Upon the successful completion of this merger, David along with several of his executive team members left to launch Driftwood Hospitality Management, LLC. Our dedicated team is here to answer all your questions and make the investing process effortless. I build hotels and the numbers dont add up for me. The common theme between these properties is they are in Sun Belt, resort-oriented destinations. Married to Meredith for 25 years, Glenn is a proud dad to Logan, Cooper and Tanner. 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 To encompass all new funds, the management team behind Driftwood Acquisitions & Development (DAD) has rebranded as Driftwood Capital. We are sorry for the inconvenience. All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. The Fall River Village Resort, built-in 2000 and most recently renovated in 2018, is located at200 Filbey Court, five minutes from downtown Estes Park. ATLANTA, GA - Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired The. There were 493 new billionaires in 2021, compared to 2020. 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. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close investments across diverse markets and asset types, from name brands to boutique properties. 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. 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. The selection changes often, but if you love good Buying or selling a home is the largest financial investment most people ever make. 526 Brevard Avenue, Cocoa, Florida 32922, United States. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. We then bring our extensive experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality. As Chief Legal Officer & General Counsel, Jorge L. Gomez-Moller leads Driftwood Capitals legal team and outside counsel in new acquisitions, developments, lending and dispositions, as well as asset-level legal issues. 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. Additionally, with this being a Marriott product, it fills a void in a Hilton-dominated market, he said. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. 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Fast forward to 2021, and DAD, now called Driftwood Capital, has raised more than $700 million from roughly 800 high-income individuals worldwide - about half from Latin America. 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, Rodriguez, Jr. said. Driftwood Capital is a boutique investment platform for accredited investors to access institutional quality, income producing, hotel assets in the United States. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close investments across diverse markets and asset types, from name brands to boutique properties. As Chief Commercial Officer, Alejandro Navia is responsible for marketing and sales strategies for the firms investment products, including creating Driftwoods EB-5 Program. in Government and English and earned his J.D. Please enable Cookies and reload the page. Ci "It's been a labor of love getting all the entitlements and getting all the zoning requirements met. Ground-up development, a 130-room suite-style beachfront hotel in Melbourne on Floridas Space Coast. Near that property is the development site for the Element Melbourne Beach, which he said is another deal that has great potential due to the market's diverse demand drivers, as well as a lack of any other new beachfront hotels and extended-stay hotels. With a 30+ year track record in hospitality, an in-house operating capability, and deep relationships within the industry, we believe we've created one of the best-in-class, vertically integrated commercial real estate private equity firms focused on the hospitality sector. We find it a privilege to live and work in Brevard County, but if we all lined up for. questo messaggio, invia un'email all'indirizzo questo messaggio, invia un'email all'indirizzo Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. The Cocoa Beach Hotel Association voted against this idea; its time for the county commission to do the same. Prior to joining Driftwood, Alejandro worked as a real estate investment advisor to family offices, local banks and high-net-worth individuals. Rockbridge has acquired the 331-room Island Resort in Fort Walton Beach, FL, located on 11 acres of real estate with 600 ft. of private beach. The Fund focuses on providing mezzanine loans and preferred equity for existing hospitality assets, as well as ground up hotel development projects in the United States. Operational performance distributions & upside participation benefits. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. At the time Driftwood Hospitality Management was a national hotel platform founded by Lehman Brothers and David Buddemeyer. Lamentamos He earned a B.A. First, we want to continue to meet the growing demand in the marketplace for alternative investments. We are actively engaged in expanding our network of investors. According to the Phoenix Business Journal, citing Maricopa County records, Driftwood bought the 16-acre resort for $113 million from an entity of Hong Kong-based Junson Capital. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. to let us know you're having trouble. 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. "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. MV Real Estate Holdings brought on its partner, Coral Gables-based Driftwood Capital to develop the 1.5-acre Miami River property at 114 Southwest North River Drive. Lamentamos pelo inconveniente. We are also expanding our strategic partnerships with others in the market wherever we find synergies. envie um e-mail para Built in 2000 and renovated in 2018, Fall River Village Resort is located at 200 Filbey Court. Global wealth was up 8.3% to $250 trillion," she said, noting billionaires are structurally changing the way investment is happening. He is a native of Costa Rica and holds a B.S. A project of this magnitude requesting $60 million of public funds should have numerous hearings with public input. 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. Managing the portfolio of Coral Gables, Florida-based Driftwood Capital is no easy task, but founder, President and Chief Operating Officer Carlos Rodriguez Jr. said the company continues to achieve goals for further growth. This firm has 2 employees, of which 2 are employees in advisory roles. Please note: Search data is accumulated by 3rd party and refreshed once per day. He lives with his wife Johannah and their baby boy, and enjoys travel, design and new technologies. He has successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies. We believe our proprietary solution helps to reduce risk in the investment process. Though Driftwood Capital is always on his mind, Carlos unwinds by riding his bike, playing tennis, playing cards, watching football, reading, going to movies, hiking, traveling, and last but certainly not least - playing with his grandchildren. 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. It is not found money; it is called the cost of doing business and paying your fair share. verdade. We are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. "The other big wave that drove real estate investing this past year is opportunity zones," she added. "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. AboutPressCopyrightContact. REGISTRATION STATUS NOTICE FILINGS Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners, behind a $114.4 million senior financing package originated by a major life insurance company. 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. 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 chairman and CEO Carlos J. Rodriguez, Sr. naar He said the lending platform gives Driftwood Capital the ability to fulfill a growing niche for small-to-midsize loans in the hotel space. 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. Situated on 68 acres, the property features 14 buildings withfour lodging options comprising 192 guest rooms and 31 condominium units. The principals. para informarnos de que tienes problemas. 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.. 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. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). If you continue to see this He expects the hotels will be cash-flow positive in 2022. Plus I think Driftwood Capital is a legit player in the hospitality space. Last weeks guest opinionby Driftwood Capital CEO Carlos Rodriguez Sr. can only mean one thing: Mr. Rodriguez still thinks he can get his hands into the pockets of Brevard County to the tune of $60 million. excuses voor het ongemak. 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. An investment in real estate involves a high degree of risk and should be considered only by highly sophisticated persons who can bear the economic risk of loss and illiquidity. In total, there are 2,750 billionaires around the world that in total control $13 trillion, up from $8 trillion in 2020, she said. Opinions expressed by Forbes Contributors are their own. . message, please email So do I and so do several other local hospitality companies. enva un correo electrnico a East Coast Office. If they decide to continue to operate the International Palms, then so be it. Individuals are urged to consult with their own professional advisers before making any investment decision. The best home improvement jobs deserve the best materials. 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. Since then, Driftwood Capital has funded $50 million in loans across five hotels Hyatt Place Noma, two Cambria hotels in California, Home2 Suites Charlotte and Shashi Hotel Mountain View totaling 805 rooms. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. Aydanos a proteger Glassdoor verificando que eres una persona real. All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. All information provided on this website is provided without warranty and for informational purposes only. T: 305-663-3543. Se continui a visualizzare 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. Some of the companys hotel properties include the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale, the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks. Be careful when someone says a $60 million investment wont cost you a penny. An investment in real estate involves a high degree of risk and should be considered only by highly sophisticated persons who can bear the economic risk of loss and illiquidity. from Purdue University and an MBA from Dukes Fuqua School of Business. The company holds stakes in some 25 hotels, including two that just opened in West Palm Beach and Fort Lauderdale. He has lived in the Aurora/Southeast Denver Metro area since 1965 and is an expert Getting ready for a yard project? For more information, visit www.driftwoodcapital.com. So we created this website to help you, the potential investor, get the facts, find the best, and avoid fraud and Ponzi schemes. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Finally, our experience in the hospitality sector is paramount to our collective success. to let us know you're having trouble. Wenn In-house experts in sourcing, underwriting, financing, asset management, operations, development and legal help to ensure the entire deal cycle lives within our purview. Kreps DeMaria PR Ci Investors in the new GP Funds consist of DADs initial investors as well as longstanding LP investors, strategic capital partners, and other JV partners. 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. in Finance from Vanderbilt University, a hospitality certificate from Cornell University, and an MBA from Duke Universitys Fuqua School of Business. We are sorry for the inconvenience. 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). Additionally, 82% of those surveyed indicated that they plan to increase their allocations to real estate this year. Born in Kansas, John grew up in Indiana and earned a B.S. He is a graduate of Florida International University with degrees in Business Administration and International Business and holds a real estate brokers license in the State of Florida. 120-Day Approval, with a registration date of Nov 7, 2018. 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. Driftwood Title Driftwood Title Driftwood Title. 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. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. He was previously head of Asset Management for Stonebridge Companies and Woodbine Development, as well as Asset Manager for Maritz Wolff and Director of Finance for Marriott International. Contact Us. paula ann spilotro obituary, is howard charles related to craig charles, senzu sharpener customer service number,
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