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Wednesday, 02 May 2018

Access Point Financial Aims for $600Mln of Hotel Loan Originations This Year

Access Point Financial Inc. expects to fund $600 million of loans this year. The Atlanta hotel lending specialist, whose principals have completed more than $7.5 billion of loans, late last year was recapitalized and is now backed by WCP Investments LP, a venture of Wafra Capital Partners Inc. and NBK Capital of Kuwait.

Commercial Real Estate Direct Staff Report

Access Point Financial Inc., a hotel lending specialist whose principals have completed more than $7.5 billion of loans, expects to fund $600 million of mortgages this year.

The Atlanta company is led by Jon S. Wright, chairman and chief executive, who had founded it seven years ago. It focuses on providing small- to middle-market loans against properties that generally are undergoing renovations to make them eligible for a national brand and franchise.

It funds bridge and construction loans, and writes mortgages to fund capital expenditures and furniture, fixtures and equipment. Hotel owners also often turn to it to fund renovations designed to allow a property to get a national brand and franchise agreement.

It will write loans from $50,000 to $90 million. But its sweet spot is anywhere from $10 million to $15 million.

Its average loan has a balance of $3 million. Wright said his team will write anywhere from 200 to 250 loans this year. Its loans typically are structured with a term of three years, with possible extensions, and require a fee of 1 to 2 percent on origination and pay off. Coupons range from 7 percent to 12 percent, depending on where in the capital stack it's playing, the value of collateral and types of guarantees.

Wright noted that it had provided...





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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

REITCafe

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