Mesa West Refis Hyatt-Branded Savannah Hotel With $50M Loan

A joint venture between Regent Partners and Mariner Group has secured a $50 million loan to refinance a hotel property in Savannah, Ga., Commercial Observer has learned.

Mesa West Capital provided the five-year, nonrecourse debt on the sponsorship’s 193-key  Thompson Savannah property that opened in August 2021. The transaction takes out previous construction debt on the Hyatt-branded hotel that was developed by Regent, Mariner and Cadre. 

Russell Frahm of Mesa West led the origination out of New York alongside Pamir Niaz and Jacob Rosen. 

“This financing was an opportunity to provide a moderate leverage loan against a recently delivered, high-quality full-service hotel in one of the top tourist destinations in the country,” Frahm said in a statement. 

Frahm added that the hotel has generated “impressive growth” in key hospitality metrics over the last two years including occupancy, revenue per available room and average daily rates. 

Berkadia arranged the transaction with a team led by Lauren Greenberg, Jared Kelso and Steve Michels from the brokerage firm’s hotel and hospitality group in New York. 

Located at 201 Port Street near the Savannah River in Savannah’s Historic District, the hotel has amenities that include a pool with private cabanas, a fitness center and 11,000 square feet of meeting space.

Officials at Regent, Mariner and Berkadia did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com