Dealmaker: Mesa West Capital Provides $50M Loan to Refinance Georgia Hotel

(Thompson Savannah courtesy of Mesa West Capital)

Mesa West Capital, Los Angeles, provided a joint venture led by Regent Partners and Mariner Group with $50 million in short-term first mortgage debt to refinance a recently constructed Hyatt Hotel in Savannah, Ga.

The five-year, non-recourse financing takes out the original construction loan on the hotel, a boutique lifestyle brand of Hyatt Hotels developed by joint venture partners Regent, Mariner and Cadre and opened in August 2021.

The 193-key luxury hotel is called the Thompson Savannah.

“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,” said Mesa West’s Russell Frahm, who led the New York-based origination team along with Pamir Niaz and Jacob Rosen. “The Thompson Savannah has continued to generate impressive growth in the key hospitality metrics including occupancy, RevPar and ADR over the past two years.”

The financing was arranged by Jared Kelso, Steve Michels and Lauren Greenberg in the New York office of Berkadia’s Hotel and Hospitality Group.