Access Point Financial Appoints Ankur Shah as Chief Financial Officer

ATLANTA – September 6, 2022 – Access Point Financial, LLC (APF), a leading direct lender focused exclusively on the hospitality industry, today announced the appointment of Ankur Shah as Chief Financial Officer and Head of Capital Markets. Ankur is assuming his new leadership role with the company upon the retirement of APF’s outgoing CFO, John Patton, who held that position since 2011. Prior to accepting his most recent role, Ankur served as Managing Director and Co-Head of Capital Markets and Corporate Development. In his capacity as CFO, Ankur will be responsible for establishing, structuring and managing capital and industry relationships, overseeing corporate strategy and financial operations, and serve as a member of the company’s executive committee.

With over 15 years of experience in capital markets, specialty finance, commercial real estate investment and investment management, Ankur was the Co-Founder and Managing Partner of Pike Hill Lodging, a specialty finance company focused on the hotel sector that formed a strategic alliance with APF in 2021. Prior to that, he served as Vice President of SunBridge Capital Management, a multi-strategy investment manager, where he was responsible for the sourcing, execution, and management of investments across public and private markets.

“We would first like to heartily congratulate John Patton on his retirement and thank him for his service and dedication to the company over the past 12 years,” said Mike Lipson, CEO of Access Point Financial. “Under his leadership, we achieved unprecedented success during a time of financial volatility. We are deeply honored to have Ankur now join our leadership team as CFO. We look forward to many more years of growth, based on his extensive knowledge and expertise in hospitality finance and investment that will allow us to further grow our service portfolio and continue serving our industry clients’ diverse financial needs.”

Ankur’s hospitality industry experience includes a former role as Finance Manager for DiamondRock Hospitality Company (NYSE: DRH), where he was active in over $1B of hotel investments and over $1B of equity and debt financings. Ankur’s prior professional experience also includes a position as Senior Real Estate Analyst at Choice Hotels International (NYSE:CHH).

For more information on Access Point Financial’s new permanent financing option or its comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

About Access Point Financial

Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides financing to qualified hoteliers throughout the United States.  APF’s loan programs are flexible and are typically used for refinance, acquisition, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction. APF’s programs are designed specifically for the hospitality industry and offer a competitive alternative to traditional bank financing. APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility. For more information, please visit www.accesspointfinancial.com.

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Access Point Financial Introduces Permanent Fixed Rate Financing Program

ATLANTA – August 1, 2022 – Access Point Financial, LLC (APF), a leading direct lender focused exclusively on the hospitality industry, announced today that it has introduced a permanent fixed rate loan program for stabilized hotels. APF will provide a 5-, 7- or 10-year fixed rate option with loan amounts ranging from $10 million to $50 million at competitive interest rates. The addition of this permanent financing option further augments the wide range of loan options currently provided by the Atlanta-based direct hospitality lender, which includes bridge, construction, mezzanine and preferred equity, as well as PIP and capex loans.

“Traditionally, APF has been known for providing financing for bridge loans that were ideal for transitional assets, hotel conversions or properties requiring additional time to stabilize following downturns, such as that recently experienced during the pandemic,” said Michael Lipson, CEO of Access Point Financial. “Those financial options are excellent for acquisitions or refinancing. However, our new permanent loan program opens up our lending ability to properties with stabilized assets and allows us to offer highly competitive rates that are comparable to those normally only available through traditional lenders, such as life insurance companies, CMBS and banks. We look forward to serving this growing need in the industry, now that the recovering travel market is becoming increasingly stable.”

For more information on Access Point Financial’s new permanent financing option or its comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

About Access Point Financial

Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides financing to qualified hoteliers throughout the United States.  APF’s loan programs are flexible and are typically used for refinance, acquisition, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction. APF’s programs are designed specifically for the hospitality industry and offer a competitive alternative to traditional bank financing. APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility. For more information, please visit www.accesspointfinancial.com.

Access Point Financial Follows Record Year with Record-Breaking Q1 2022, Closing Over $1 Billion in Hotel Financing in the Last 12 Months

ATLANTA – May 3, 2022 – Access Point Financial, LLC (APF), a leading direct lender focused exclusively on the hospitality industry, announced today that it has broken all previous company records for loan volume, during a period of time when the hotel industry is still in economic recovery. During the previous 12 months, APF closed over $1 Billion in hotel financing, primarily through its bridge program that provides funding for acquisitions, refinances and conversion opportunities. The company is currently on track to maintain or surpass that volume in 2022, ending Q1 of this year with $256MM in loan production. The latest quarterly volume comprises 19 transactions for franchised properties that are flagged with some of the world’s leading brands, including Hilton, Marriott and IHG.

APF, an Atlanta-based direct lender focused exclusively on the hospitality industry, provides bridge, PIP, capex, construction, mezzanine and preferred equity financing for qualified hotel owner-operators throughout the United States and Canada. The dramatic increase in volume is being attributed to an evolution of the company’s program structure that was implemented by a new senior leadership team in early 2021.

“Over the past year, APF has really morphed into a new company—let’s call it APF 2.0,” said Mike Lipson, APF’s CEO and Chairman of the Board. “Under the exceptional leadership of our new management team, we are becoming much more of a mainstream traditional lender, offering a more diverse range of products that are competitive with debt funds or other non-bank lenders, while maintaining our exclusive focus on the hospitality industry. We are clear in our focus and direction—lending up and down the capital stack, with most of the effort currently focused on our popular bridge program. We have stayed true to our roots as a Capex lender too, and will be ready to deploy that program when the brands require PIP’s to be due. As a true partner with our clients, APF will be able to assist there, as well, to meet all of our hotelier clients’ finance needs.”

APF focuses primarily on upper midscale to upscale, limited/select service, extended stay and compact full-service hotels for top tier brands. Owners must have five years of experience and a minimum of five hotels in their portfolio to qualify.

For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

About Access Point Financial
Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, PIP, capex, construction, and mezzanine/preferred equity financing to qualified hoteliers throughout the United States & Canada. APF’s loan programs are flexible and are typically used for refinance, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction. APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing. APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.

Access Point Financial Refinances Portfolio of Four Hotels for Walker Reynolds Lodging Partners

Hospitality’s leading capital provider provides funding for four hotels across three states, owned by Walker Reynolds and managed by Aileron Management.

ATLANTA – March 29, 2022 – Access Point Financial, LLC (APF), a leading direct lender focused exclusively on the hospitality industry, announced today that the company has originated $45.75MM in floating-rate debt to refinance four hotels owned by Walker Reynolds Lodging Partners (WRLP), a Colorado-based private real estate investment firm. The hotels are all managed by Aileron Management, the exclusive management company of WRLP, and include a Residence Inn by Marriott in South Carolina and three Hampton by Hilton hotels located in Iowa and Wisconsin.

APF, an Atlanta-based direct hospitality lender that provides bridge, PIP, capex, construction, mezzanine and preferred equity, wrote separate, cross-collateralized loans on the properties, which include the 96-unit Residence Inn by Marriott Charleston North/Ashley Phosphate, the 135-unit Hampton by Hilton West Des Moines Lake Drive, the 122-unit Hampton by Hilton Appleton, and the 119-unit Hampton by Hilton Milwaukee/Brookfield.

Berkadia brokered the refinancing package, which closed on March 9, 2022. WRLP plans to use the proceeds for planned renovations on the hotels and funding reserves, as well as paying off an undisclosed amount of debt and covering closing costs.

“We are pleased that we could meet the financial needs of Walker Reynolds, in order to provide the funds needed to keep these strategically located properties up-to-date, competitive and financially well positioned,” said Matt Hick, the loan originator for APF. “As the travel and hotel markets continue to rebound, we are honored to have the ability to contribute to its ongoing growth and success.”

The refinancing package included a $11.98MM loan on the North Charleston Residence Inn, which is located in the northern portion of the Charleston Airport submarket. The area boasts some of the Greater Charleston’s largest businesses and entities, including the Charleston International Airport; the Joint Base Charleston, North Charleston Convention Center, Performing Arts Center and Coliseum and Trident Health System, as well as Boeing, Daimler, and Volvo assembly plants.

The Hilton West Des Moines, which received a $11.01MM loan, is located in the eastern portion of the Des Moines Airport/West lodging market, which consists of some of the region’s largest businesses, including American Equity Investment Life Insurance, Athene, Farm Bureau Financial Services, Hy-Vee, Sammons Financial, and Wells Fargo’s Credit Card Retail, Home Equity, and Home Mortgage business units.

The package also included a $13.48MM loan on the Hampton by Hilton in Appleton. The hotel is located in the central portion of the Appleton/Oshkosh lodging market, which is home to some of Northern Wisconsin’s largest businesses and is further supported by prominent academic and healthcare institutions, including Lawrence University, National Liberal Arts College, and a variety of tourist attractions and special events.

The final portion of the package was a $9.28MM loan on the Hampton by Hilton Milwaukee/Brookfield, located in the northeastern portion of the Milwaukee West & South lodging market, which includes Milwaukee Electric Tool headquarters and numerous Fortune 500 Corporations, such as Fiserv, Generac Holdings, Quad/Graphics and REV Group, as well as various medical related employers, such as Froedtert Hospital and the Medical College of Wisconsin, GE Healthcare and ProHealth Care.

For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

About Access Point Financial

Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, PIP, capex, construction, and mezzanine/preferred equity financing to qualified hoteliers throughout the United States & Canada.  APF’s loan programs are flexible and are typically used for refinance, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction.  APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing.  APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.

Access Point Financial Exceeds 2021 Loan Production Goal with $730MM in Deals

ATLANTA – December 14, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced it exceeded its loan production goal for the year.

As of April 1, APF set forth a goal of $400 million in loan production. Today, the company is on track to close over 60 deals totaling $730 million, an 83% increase over its budgeted production from eight months ago.

“When I stepped in as CEO in April, we set a goal to target $400 million in loan production. It was a lofty goal as we were coming out of a tumultuous 2020 due to the COVID-19 pandemic. That meant there was no room for error, and we had to be certain we made the absolute best loans we could,” said Michael Lipson, CEO of Access Point Financial. “I’m proud of all that the team has accomplished this year. I want to give special thanks to Chief Lending Officer Bruce Lowrey, who oversees originations, credit, underwriting, and asset management. We look forward to continuing the success going into 2022.”

“We were pleased to work with Access Point on a series of development financings for our economy extended stay strategy with the WoodSpring Suites brand,” said David Smith, Senior Director, Whitman Peterson. “Their firm came to the table with enthusiasm and deep industry experience, allowing them to dig into our projects and our general investment thesis in the sector very quickly. Throughout the origination and closing process, we found the whole team to be highly organized, professional, and responsive, resulting in a smooth execution. As a lending partner, Access Point delivered, and we would be delighted to work with them again.”

Some key transactions closed to date include:

  • $23 million refinance of the Hotel Leveque, Autograph Collection by Marriott in Columbus, Ohio, owned by First Hospitality Group.
  • $34.74 million for the acquisition and conversion of the Holiday Inn River North at the Mart in Chicago to a dual-brand Holiday Inn & Voco by IHG for Murphy Development Group.
  • $15.7 million senior loan for Rolling Hills Hospitality’s acquisition of the Holiday Inn Express & Suites in Louisville, Kentucky.
  • $16.4 million senior loan and mezzanine loan for the refinance of Century Group’s Tryp by Wyndham in Pittsburgh, Pennsylvania.
  • $31.8 million financing for four WoodSpring Suites Development deals for a JV partnership with Whitman Peterson and Concord Hospitality.

“APF took the time to understand the nuances of this intricate refinancing as it evolved over several months,” said Danny Aderholt, Founder, Century Group. “As important, they also took the time to listen to and understand what was important to us. APF’s creativity, patience, and ability to focus on ‘the critical few’ is what sets them apart and has us looking forward to the next transaction with them.”

Access Point Financial is backed by Wafra Capital Partners. The company focuses on midscale to upscale hotels, from limited/select service to extended stay and compact full service in the top 100 MSAs. Access Point Financial loan programs are typically used for acquisition, refinance, conversion, renovations, and new construction opportunities.

For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, please visit www.accesspointfinancial.com.

About Access Point Financial

Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, PIP, capex, construction, and mezzanine/preferred equity financing to qualified hoteliers throughout the United States & Canada. APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing.  APF understands the complexities of the industry and is uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.

Access Point Financial Forms Strategic Alliance with Pike Hill Lodging Partners and Expands Executive Leadership Team

ATLANTA – September 21, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the expansion of its platform via the forming of a strategic relationship with Pike Hill Lodging Partners (Pike Hill). The enhanced collaboration is notably set to provide industry professionals with access to the combined expertise of both organizations while ensuring even greater flexibility in the ability to tailor financing to meet specific hoteliers needs. Ensuring the success of this combined effort is APF’s appointment of Pike Hill co-founders, Tim Peterson and Ankur Shah, who will join the company’s executive leadership team as Managing Directors and Co-Heads of Capital Markets and Corporate Development.

“Pike Hill with its industry-leading reputation and experience with capital markets is a natural complement to the dedicated financial expertise that APF possesses for the hotel industry, which together can ensure hoteliers always make informed decisions on available financial offerings to maximize ROI and the achieving of business goals,” said Mike Lipson, CEO of Access Point Financial. “With a proven track record of success in delivering expected results for their clients, Tim Peterson and Ankur Shah are welcome additions to the APF executive team, and we look forward to putting their years of experience to good use in fully serving the growing financial needs of today’s industry.”

Shah and Peterson will be launching and leading APF’s Washington, D.C. office, with a focus on accelerating APF’s growth through expanded capital markets and M&A reach. Both capital market experts will also be dedicated to introducing new financing offerings and enhancing brand partnerships. Shah and Peterson bring notable entrepreneurial, investment and board expertise in capital structuring, launching specialty finance companies, and growing asset management platforms.

“Access Point’s resources, culture, and reach within the hotel industry combined with Pike Hill’s capital markets expertise uniquely position the combined company to be the leader in hotel finance,” said Shah and Peterson. “We are excited to join this exceptional team in helping realize the company’s immense potential. Access Point is poised to be the preeminent capital provider to the hotel sector.”

Peterson and Shah founded Pike Hill Lodging Partners, a hotel specialty finance company, in 2019. Prior to that, they worked together in leadership roles at SunBridge Capital Management, a multi-strategy investment manager, and Choice Hotels International (NYSE: CHH), an affiliated global hotel franchise company. At SunBridge, they were responsible for making and managing investments in real estate and financial service operating businesses. At Choice Hotels International, Peterson and Shah were instrumental in the company’s capital markets and M&A efforts.

For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, Please visit accesspointfinancial.com.

About Access Point Financial
Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, PIP, capex, construction, and mezzanine/preferred equity financing to qualified hoteliers throughout the United States & Canada. APF’s loan programs are flexible and are typically used for refinance, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction. APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing. APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.

Access Point Financial Appoints Mike Huffman as Managing Director

ATLANTA – May 4, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the appointment of Mike Huffman as Managing Director. The recent appointment follows the ongoing improvement in hotel market performance and as hospitality professionals increasingly seek out flexible loan programs to finance new hotel projects or recovery efforts.

“Mike is a welcome addition to our leadership team and his decades of financial expertise will no doubt provide our customers with the guidance needed to select loan options that ensure long-term success,” said Michael Lipson, CEO of Access Point Financial.

“As someone who also holds considerable experience in working for the hospitality industry, Mike’s professional background will further prove to be an essential asset in structuring new loan agreements that take unique market requirements into full account.”

Prior to accepting his new position as Managing Director for APF, Huffman held several notable roles that include serving as Vice President for the hospitality sector of Heller Financial. Huffman further served as Director of Investment Management for Highgate Hotels where he formulated strategic relationships with organizations such as Westbrook, Goldman Sachs, Blackstone, Rockpoint, Investcorp and RREFF. Huffman is also credited with financing more than $2.5 billion in transactions across the full spectrum of leverage levels. Huffman additionally holds CPA certification, a BS in accounting as well as an MBA from Depaul University.“We are on the verge of returning to more prosperous times for the hotel industry and I am honored to be a part of organization that possesses both the knowledge and financial resources needed to further spur hoteliers towards recovery,” said Huffman. “Access Point Financial without question is the premier provider of financial services for hospitality professionals, and I look forward to adding my experience as a resource for customers to achieve their business goals and company growth expectations.”

For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

About Access Point Financial

Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, capex, construction, mezzanine, preferred equity and permanent financing to qualified hoteliers throughout the United States & Canada.  APF’s loan programs are flexible and are typically used for refinance, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction.  APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing.  APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.

Access Point Financial Appoints Bruce Lowrey as Chief Lending Officer

ATLANTA – April 12, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the appointment of Bruce Lowrey as the company’s Chief Lending Officer. Following the recent appointment of Michael Lipson as CEO, Lowrey’s addition to APF’s leadership team is part of the company’s continued expansion, as global hospitality markets continue to improve with more hoteliers requiring flexible financing options to position their businesses towards a successful recovery.

“We are honored to welcome Bruce into his new position as Chief Lending Officer and look forward to leveraging his many years of industry-dedicated expertise towards expanding APF’s market presence and its customer service offerings,” said Michael Lipson, CEO of Access Point Financial. “As more hoteliers implement plans to reopen their doors, APF is proud to have experienced leadership such as Lowrey, who can identify and provide the financial services that today’s hospitality professionals need to reinforce their operations, adapt to new industry expectations and ensure long term business success.”

Lowrey brings over 30 years of financial experience into his new role as Chief Lending Officer, including his noteworthy expertise with commercial real estate investment, as well as with capital markets and the management of CRE operations. Dedicated to serving the financing needs of the hospitality industry since beginning his career, Lowrey’s previous roles prior to joining APF included serving as Managing Director for Rockbridge Capital, a $2 billion private equity hotel fund where Lowrey took the lead on the development of credit strategies. Lowrey also previously served as Senior Vice President and co-head of the Capmark/GMAC Commercial Mortgage Hospitality Division, where his accomplishments included managing a $2.7 billion capital allocation, along with corresponding profit and loss responsibilities.

“Providing hotel businesses with adequate financial capabilities will be crucial in inching the industry one step closer towards recovery, and I am extremely pleased to be able to fill this vital role as a member of hospitality’s leading provider of lending services, said Lowrey. “As our company continues to expand its personnel and services as a result of improving market conditions, we look forward to passing on the benefits of this growth on to every APF customer as they seek out flexible investment programs that will ultimately lead to enhanced profitability.”

For more information on Access Point Financial’s comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

About Access Point Financial

Founded in 2011, Atlanta-based Access Point Financial, LLC (APF) is a direct hospitality lender that provides bridge, capex, construction, mezzanine, preferred equity and permanent financing to qualified hoteliers throughout the United States & Canada.  APF’s loan programs are flexible and are typically used for refinance, construction take-out, renovations or brand-mandated PIPs, and value-add transactions, such as asset repositioning, hotel conversions and ground up construction.  APF’s programs are designed specifically for the hospitality industry and offer an alternative to traditional bank financing.  APF understands the complexities of the industry and are uniquely positioned to customize its loan programs to meet the needs of its clients even during periods of volatility.

Access Point Financial Appoints Michael Lipson as New Company CEO

ATLANTA – March 17, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, has today announced the appointment of Michael Lipson as Chief Executive Officer. Also continuing his role as Chairman of the Board for APF, Lipson possesses more than 40 years of financial and banking expertise. In his new role as CEO of the organization, he will be responsible for spearheading, the expansion of lending services available to hoteliers, as market conditions continue to improve. Prior to working with Access Point Financial, Lipson held several notable leadership roles where he leveraged his skills in financing and asset management to ensure client satisfaction and profitability.

This includes serving as Senior Vice President- Multifamily Asset Management & Operations for Freddie Mac. Other previous roles also include serving as President and CEO for Berkadia Commercial Mortgage LLC, and as President and Founder for Lexington Mortgage Company.

“Both the hospitality and commercial real estate industries are beginning to demonstrate signs of market growth in many regions, and I am honored to have the opportunity to lead a strong and focused organization like APF at a time when clients are in need of financial resources to ensure a full and seamless recovery,” said Lipson. “In light of current market conditions, we are further excited to announce that APF is reenergizing its lending operation to accommodate our clients’ growing financial needs and look forward to working with each new client in identifying a loan structure that is tailored to their business goals.

Access Point Financial currently offers a range of loan options to suit any specific financing requirements. This includes access to capex, bridge, construction, and mezzanine/preferred equity loan programs. With the capex program, hoteliers can obtain the capital needed for renovations, property improvement plans (PIPs) and for furniture, fixture, and equipment (FF&E) needs. APF’s bridge program is also available for acquisitions, conversions, refinancing of maturing debt, or for newly constructed hotels lacking an operating history.

In addition to naming Lipson as CEO, APF is also expanding its team to meet the increased demand for financial solutions resulting from improving market conditions. This includes ongoing recruitment efforts for business development, underwriting and asset management roles. For career opportunities, please click here.

Access Point Financial Secures $8.85 Million To Refinance the Grand Rapids’ Delta Hotel by Marriott

ATLANTA – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Lodging Opportunity Fund REIT to refinance the Delta by Marriott in Grand Rapids, Michigan.

As part of the deal, Access Point Financial secured $8.85 million for the Delta by Marriott Grand Rapids Airport property. Lodging Opportunity Fund REIT approached Access Point Financial to provide the financing due to its skill when working with a limited time budget, offering flexible terms, and a degree of certainty that the transaction would be completed on time.

APF also previously financed the Delta by Marriott in Green Bay for Lodging Opportunity Fund and had earned their trust by successfully fulfilling the requirements of the refinancing, despite being given 15 days to underwrite, approve and fund a loan for the property prior to its maturation in late March. The process took place at the beginning of COVID-19 pandemic in the U.S., prompting Access Point Financial to act quickly and purposefully.

The 188-room Delta Hotels Grand Rapids Airport in Grand Rapids, Michigan., is located four miles from the Gerald R. Ford International Airport, and eight miles from Downtown Grand Rapids. The property’s positioning at East Beltline and 28th Street provides access to one of the busiest intersections in the area. Additionally, the Delta Hotels Grand Rapids Airport is one of just two full-service Marriott hotels in the Grand Rapids metropolitan area, and it is the only full-service Marriott hotel in the Airport submarket. The hotel is operated by National Hospitality Services, an affiliate of Lodging Opportunity Fund.

“The Delta Hotels Grand Rapids Airport is one of the most strategically-positioned hotels in the Grand Rapids metropolitan area, and we are excited to continue our partnership with Lodging Opportunity Fund to provide the needed financial resources for it,” said Lori Tirado, Managing Director, Business Development at Access Point Financial. “This is a difficult time for hoteliers, but we are confident in the value of this property and the skill of its leadership team.”

For more information about Access Point Financial , please visit www.accesspointfinancial.com.