All information provided on this website is provided without warranty and for informational purposes only. 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. This firm has 2 employees, of which 2 are employees in advisory roles. Rodriguez Sr. said more are in the pipeline. The common theme between these properties is they are in Sun Belt, resort-oriented destinations. 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. Operational performance distributions & upside participation benefits. 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. He also served as Chief Financial Officer of Denihan Hospitality Group and Executive Vice President, Capital Markets & Strategic Planning at RXR Realty, among other positions. We are also expanding our strategic partnerships with others in the market wherever we find synergies. 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. Disculpa He graduated Georgetown University with a B.A. om ons te informeren over dit probleem. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de It is not found money; it is called the cost of doing business and paying your fair share. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. Use the CB Insights Platform to explore Driftwood Capital's full profile. in communication. Rockbridge, Driftwood Capital acquire Southern properties Our dedicated team is here to answer all your questions and make the investing process effortless. real person. Then, we invite accredited investors to join us, coming into the deal at our basis. 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. 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. Als u dit bericht blijft zien, stuur dan een e-mail I guess we are to be impressed with a proposed $300 million-plus project. We are also expanding our strategic partnerships with others in the market wherever we find synergies.. Tru by Hilton/Home2 Suites by Hilton under. Superior Risk-Adjusted Returns in Hospitality, Directly from one of the countrys leading hospitality sponsors, San Diego Marriott Mission Valley - San Diego, CA. The principals of Driftwood Capital boast a 30+. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). Chief Legal Officer & General Counsel, Partner, Managing Director, Investor & Public Relations. Global wealth was up 8.3% to $250 trillion," she said, noting billionaires are structurally changing the way investment is happening. The only downside I saw was 2 new hotels opening in Southlake this year, although their locations aren't that great. Alejandro enjoys cycling and hiking, and in a previous life, produced more than 100 music videos for the likes of such international stars as Ricky Martin, Shakira and Daddy Yankee. 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. 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. As Managing Director of Investor & Public Relations, Caroline Lewittes oversees all channels of communications with investors and other key stakeholders. Ariel Yari.'. - Chief Commercial Officer (CCO) - LinkedIn First, we want to continue to meet the growing demand in the marketplace for alternative investments. In total, there are 2,750 billionaires around the world that in total control $13 trillion, up from $8 trillion in 2020, she said. The best home improvement jobs deserve the best materials. It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. Driftwood does not represent that any opinion or projection will be realized. Its the new home of High Plains Bank in Wiggins. 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. real person. We are sorry for the inconvenience. With this acquisition, Driftwood Capital's portfolio grows to 23 full-service hotels and seven new ground-up hotel developments. We are sorry for the inconvenience. I can finally tell you we're there," he said. He works with leadership on new strategies, fund structuring and fund operations, and spearheaded the launch of Driftwood Capitals Opportunity Zone program. Since launching in 2015, Driftwood Capital 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. Read employee reviews and ratings on Glassdoor to decide if Driftwood Capital is right for you. 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. 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. Driftwood Capital Targets New Mezz Lending Fund for Hospitality Carlos was a Board Member of the Central American Bank of Economic Integration (CABEI), and he was a Board Member and helped found Bank of Coral Gables which later merged with First American Bank of Chicago Illinois. Without a public subsidy, the free market will ultimately determine the best use of that property. scusiamo se questo pu causarti degli inconvenienti. As Managing Director of Capital Markets, David oversees all mezzanine and preferred equity investments for the Lending strategy. He said Driftwood Capital will also be issuing loans in the $3 million to $50 million range through its mezzanine lending division. He was previously a Director in Cantor Fitzgeralds Commercial Real Estate Finance group and has closed more than $5 billion of transactions during his career. So do I and so do several other local hospitality companies. A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL 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 . Please note: Search data is accumulated by 3rd party and refreshed once per day. InvestingReview.org is not an investment adviser and is not endorsed by or affiliated with any U.S. or non-U.S. regulatory agency. 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. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. Primetexcapital.ltd Scam Reviews and Complaints Primetexcapital.ltd has gotten many negative reviews and traders who traded with this broker have raised many complaints against it. We believe our proprietary solution helps to reduce risk in the investment process. Give me $60 million and I will gladly provide free meeting space and spend less than one percent on marketing my hotel. Aydanos a proteger Glassdoor y demustranos que eres una persona real. "We're being very picky as to where we go for new development," he said. 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. Ultimately, how this investment plays out will be dependent on the impact of additional competition, and if and when the business traveler comes back. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. All these hotels are managed by Driftwood Capitals affiliate, Driftwood Hospitality Management, based in Palm Beach, FL. 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. "That was not an easy task to start ramping [up] during the pandemic," he said. Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. Wharf Miami Site to Become Two-Tower Dream Hotel Project Bob Baugher is president /owner of the Radisson Resort at the Port; Cocoa Beach Surf Company; Cocoa Beach Suites Hotel and equity partner in the SpringHill Suites Cape Canaveral and TownePlace Suites Cape Canaveral, currently under construction. "To achieve that [internal rate of return], even without the cash flow that we had the [past] couple of years, is attractive," he added. He enjoys swimming, waterskiing and hanging out at dog parks with his dog. para informarnos de que tienes problemas. He is a native of Costa Rica and holds a B.S. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. In 2020, Driftwood Capital announced it intended to raise $100 million from investors to source mezzanine loans and preferred equity transactions to help owners and lenders who were struggling through the pandemic. But that is simply not how it works. 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. Driftwood Capitals affiliate management company (DHM), a long-standing industry leader, is brought in to operate the hotels. Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. "The other big wave that drove real estate investing this past year is opportunity zones," she added. Ci Wenn Driftwood Bulletin Read Customer Service Reviews of capital.com - Trustpilot in Government and English and earned his J.D. 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. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. Driftwood Capital | Coral Gables FL - Facebook Unfortunately, every day there are Investment brokers looking to scam unsuspecting victims. envie um e-mail para 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. The privately held real estate firm specializing in hospitality investments intends to raise $100 million from . It is a TX Limited Liability Company. "They want to use their expertise as asset owners and entrepreneurs to really affect change in the companies that they are investing in," she added. Driftwood Capital | LinkedIn During his eight-year tenure as the companys Executive Vice President, which began in 1990, he was responsible for all facets of Servicos operations. Through its mezzanine lending division, the company is issuing loans in the $3 to $50 million range. He lives with his wife Johannah and their baby boy, and enjoys travel, design and new technologies. Additionally, with this being a Marriott product, it fills a void in a Hilton-dominated market, he said. "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. First, we want to continue to meet the growing demand in the marketplace for alternative investments. Ground-up development from site identification through to opening. 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. Se continui a visualizzare He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. As Chief Financial Officer, Glenn Wasserman oversees corporate financial strategy and all financial operations including accounting and financial reporting. Driftwood Capital LLC - DALLAS , TX - Avoid Fraud, Get The Facts, And Driftwood should move forward with a project that justifies its own private investment. He lives with his wife Lauren, son Chase and dog Addy. Please help us protect Glassdoor by verifying that you're a Driftwood Capital has purchased the Scottsdale (Ariz.) Resort at McCormick Ranch, a 326-room property in the McCormick Ranch neighborhood. Onze The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors, Rodriguez Sr. said. las molestias. Finally, our experience in the hospitality sector is paramount to our collective success. 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. The proceeds . Israel Kreps, ikreps@krepspr.com January 20, 2022. The resort currently features nine one-bedroom/one-bathroom condos, 64 two-bedroom/two-bathroom condos, 12 three-bedroom townhomes, and four four-bedroom townhomes, all located near the banks of the Fall River, or perched up high with panoramic views of the Continental Divide. Driftwood Capital buys Arizona resort, plans renovation 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 LLC is legally known as DRIFTWOOD CAPITAL, LLC. 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. 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 Acquires Washington D.C. Metro Area Hotel Please help us protect Glassdoor by verifying that you're a He said the lending platform gives Driftwood Capital the ability to fulfill a growing niche for small-to-midsize loans in the hotel space. enviando un correo electrnico a He was previously head of Asset Management for Stonebridge Companies and 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. Caruso-Fitzgerald oversees a group of advisors who manage clients with $100 million and more to invest. Driftwood Title Driftwood Title Driftwood Title. He said the Daytona hotel was referred to as "the dog" of the portfolio but over time showed its value. at Franklin & Marshall College and enjoys playing golf and soccer as well as running. 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. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capital's portfolio of hotels. Driftwood Hospitality Management | Driftwood Hospitality Management Miami Worldcenter developer. 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. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. Avoid Fraud, Get The Facts, And Find The Best. As Chief Commercial Officer, Alejandro Navia is responsible for marketing and sales strategies for the firms investment products, including creating Driftwoods EB-5 Program. Driftwood Capital, a real estate firm focused on hospitality investments, raised $250 million in GP capital for development, acquisitions and lending. A vertically integrated team oversees all aspects of the investment and ownership process, seeking to provide a total alignment of interests with investors. enviando un correo electrnico a We are guided by principles that inform not just our investment decisions, but all business interactions. 120-Day Approval, with a registration date of Nov 7, 2018. verdade. ein Mensch und keine Maschine sind. "We are now finally seeing tailwinds in the industry for recovery," in a macro-economic sense, he said. I build hotels and the numbers dont add up for me. The table below is a blacklist consisting of Investment brokers who have scammed those who made complaints on Broker Complaint Registry. 603 MUNGER AVENUE, #100-205, DALLAS, TX . Ground-up development, a 130-room suite-style beachfront hotel in Melbourne on Floridas Space Coast. He also holds a certificate in Commercial Real Estate Analysis & Investment from the Massachusetts Institute of Technology (MIT) School of Architecture & Planning. Prior to joining Driftwood in 2018, Jorge practiced law at Greenberg Traurig, LLP, where he represented clients in private equity fund formations, complex joint ventures, and cross-border mergers and acquisitions. verdade. 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. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close . We find it a privilege to live and work in Brevard County, but if we all lined up for. Your ticket to invest in institutional real estate deals. Driftwood Capital Begins Work on New Iconic Westin Cocoa Beach Resort Si continas recibiendo este mensaje, infrmanos del problema Individuals are urged to consult with their own professional advisers before making any investment decision. Wir entschuldigen uns fr die Umstnde. If you continue to see this For more information, visit www.driftwoodcapital.com. 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. scusiamo se questo pu causarti degli inconvenienti. For more information, visit www.driftwoodcapital.com. He said Driftwood Capital would consider joint ventures with other experienced investment groups and developers across the country. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. The number of clients served by it is unknown. Born in Kansas, John grew up in Indiana and earned a B.S. 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. 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. PARTNER & CHIEF COMPLIANCE OFFICER owns 75% or more, PARTNER owns more than 10% but less than 25%. Conservative position in the capital stack. The principals. Driftwood Capital Acquires The Scottsdale Resort at - Hotel-Online Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. Onze Caso continue recebendo esta mensagem, 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.
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