Savills Studley launches US hotel investment banking platform as financing for asset class grows tighter Cara Leonard will lead the grou上海千花网论坛 p as a senior managing director in LA
From the Los Angeles website: Savills Studley is building a new U.S.-based hotel investment banking platform with a focus on securing financing for hotel projects in gateway markets such as New York, Los Angeles and Miami.
The company has tapped Cara Leonard, an alumnus of real estate advisory firm Lowe Enterprise Investors, to lead the group as a senior managing direct上海千花网论坛 or in L.A. She will report to George Nicholas, the London-based global head of the company’s hotels platform. Nicholas was recruited last November from JLL.
Savills move to bulk out its hotel financing services offerings comes amid a tight m爱上海龙凤419桑拿 arket for hotel financing in the U.S.
“A lot of lenders went out at the beginning of 2015 and made a lot of hotel secured loans and are now looking at their portfolios and hoping to moderate their hotel investments to some degree,” Leonard told The Real Deal. “They’re being more conservative in their overwriting. There are still some very active lenders in the marketplace but a handful have backed out completely.”
The top brass at Savills Studley believes the company is well positioned to help hotel developers find alternate sources of financing as traditional lenders tighten their purse strings, Leonard said. She declined to comment on any specific deals currently in the pipeline.