So do I and so do several other local hospitality companies. All information provided on this website is provided without warranty and for informational purposes only. per informarci del problema. All these hotels are managed by Driftwood Capitals affiliate, Driftwood Hospitality Management, based in Palm Beach, FL. This firm has 2 employees, of which 2 are employees in advisory roles. 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. Si continas viendo este mensaje, 972-818-5094. 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. Please enable Cookies and reload the page. 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. 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 chairman and CEO Carlos J. Rodriguez, Sr. naar Carlos was also Vice Chairman of The Caja Costarricense de Seguro Social which operates the hospital system and the largest pension fund of Costa Rica. 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. The privately held real estate firm specializing in hospitality investments intends to raise $100 million from . 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. Copyright 2019 by InvestingReview.org / All Rights Reserved. Driftwood Capital officially submitted its plans, back in late 2020, to the city planning board for its redevelopment of the International Palms Resort and Conference Center into a new 502-key . He previously served as Vice President of Development for Driftwood Hospitality Management, where he oversaw ground-up construction for the company, while implementing a successful EB-5 financing program. 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. Born in Costa Rica, Carlos came to the United States when he was nine years old. The principals. The Investment Blacklist. And this is a Westin franchise hotel. Past performance is not a guarantee of future results. MIAMI--(BUSINESS WIRE)--Driftwood Capital (formerly Driftwood Acquisitions & Development), a privately held real estate firm specializing in hospitality investments, is restructuring and scaling up its activity in 2020 via its new Development, Acquisitions and Mezzanine Lending GP Funds. 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 then bring our extensive experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality. Caso continue recebendo esta mensagem, *Includes hotels of Driftwood Capital and controlled subsidiaries. Since 2015, the principals of Driftwood Capital have transacted on more than $1.5 billion in hospitality assets backed by capital from an investor network of family offices, high-net-worth individuals and others. The principals of Driftwood Capital boast a 30+ year . Click here to read: Hotel Investment Firm Gears up For 'Tsunami of Deals', CA: Ne pas vendre mes renseignements personnels, Prfrences en matire de fichiers tmoins, Gestionnaire des biens immobiliers CoStar. We will consider joint ventures with other experienced investment groups/developers across the country.. As Founder and President of Driftwood Hospitality Management, David Buddemeyer oversees all operations and management of more than 80 hotels. As far as shedding light on the project, that is exactly what has not happened in the 10 months since the idea was presented. Our model combines private equity sponsor knowledge and access to unique investments with the potential to generate high returns. The Fall River Village Resort, built-in 2000 and most recently renovated in 2018, is located at200 Filbey Court, five minutes from downtown Estes Park. January 20, 2022. "The other big wave that drove real estate investing this past year is opportunity zones," she added. "It's during challenging times that you could unlock value, and it's about staying power in this industry.". Aydanos a proteger Glassdoor verificando que eres una persona real. He graduated Georgetown University with a B.A. Please help us protect Glassdoor by verifying that you're a Driftwood Capital LLC. 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. 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. I would like to see crypto as well in future (before was it but now I don't have anymore). The buckets in which these individuals are active include investing in private equity, and according to a survey UBS conducts each year, 85% plan to increase their allocations to private equity. enva un correo electrnico a So we created this website to help you, the potential investor, get the facts, find the best, and avoid fraud and Ponzi schemes. 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. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Internet Explorer presents a security risk. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail an. Driftwood Capital has purchased the Scottsdale (Ariz.) Resort at McCormick Ranch, a 326-room property in the McCormick Ranch neighborhood. Carlos Rodriguez Jr., Driftwood Capitals president and chief operating officer, said the companys real estate asset syndication model has proven very successful and popular with investors. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. enva un correo electrnico a Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. from Boston University. at Franklin & Marshall College and enjoys playing golf and soccer as well as running. The 316-room Hyatt Regency Fairfax will be rebranded as a full-service Hilton hotel Washington, D.C. (May 19, 2021) - Driftwood Capital, a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality, announced today that it has acquired the Hyatt Regency Fairfax, a 316-key hotel located in the Washington D.C. submarket of Fairfax, As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capital's portfolio of hotels. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. 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. 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 . Wir entschuldigen uns fr die Umstnde. As Managing Director of Capital Markets, David oversees all mezzanine and preferred equity investments for the Lending strategy. A Coral Gables hotel development and financing company is aggressively scaling up its acquisitions and construction strategy. Driftwood Title Driftwood Title Driftwood Title. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. The proceeds . Fast forward to 2021, and DAD, now called Driftwood Capital, has raised more than $700 million from roughly 800 high-income individuals worldwide - about half from Latin America. Israel Kreps, ikreps@krepspr.com real person. Not to mention the fact that the 25% of TDC funds used for beach re-nourishment has historically been matched 9-1. David earned a B.A. Speaking during the vertically integrated commercial real estate investment, development and lending platform's 2021 Investor Conference, Rodriguez Jr. said those goals included protecting the firm's downside, seeking out opportunities for transactions and planning for growth. Lamentamos pelo inconveniente. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. 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. Nous sommes dsols pour la gne occasionne. 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. Rockbridge acquired the property from the original . The principals of Driftwood Capital boast a 30+. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. Capital is an easy platform to use, amazing customer support, quite ok spreads and overnight fees and the app is quite easy. "To achieve that [internal rate of return], even without the cash flow that we had the [past] couple of years, is attractive," he added. 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. 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. If you would like to report abuse by any of these brokers please click on the name of the . Driftwood Capital is a boutique investment platform for accredited investors to access institutional quality, income producing, hotel assets in the United States. Driftwood should move forward with a project that justifies its own private investment. Tony Figueroa, afigueroa@krepspr.com AboutPressCopyrightContact. Jorge serves as Chief Compliance Officer for Driftwood Advisors, LLC, a Registered Investment Adviser with the United States Securities and Exchanges Commission. Since launching in 2015, Driftwood Acquisitions & Development 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 that includes the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks, as well as the soon-to-open developments Canopy by Hilton West Palm Beach & Tempe and the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. I have been vocal in raising concerns about the idea and would like to address Mr. Rodriguezs pitch point-by-point. Disculpa Thats why its so important to That great looking new building in Wiggins? Our relationship orientation is the basis for every counter-party with whom we transact. Carlos is the founder and former Chairman and CEO of Cardel Hotels, which merged with Driftwood Hospitality Management in 2003. questo messaggio, invia un'email all'indirizzo "That was not an easy task to start ramping [up] during the pandemic," he said. Glenn has worked in the finance industry for his entire career, most recently as Chief Operating Office at GFI Capital Resources Group, a diversified full service real estate company specializing in development, hospitality, construction, finance, real estate and insurance brokerage. para nos informar sobre o problema. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. During this time, he managed more than $300 million in real estate investment transactions. He is licensed to practice law in Florida. excuses voor het ongemak. Past performance is not a guarantee of future results. Savvy Developers Stay Active Even When the Easy Willy Walker, CEO of Walker & Dunlop, Outlines Capital Flow Issues, Market Pressures with Economist Dr. Peter Linneman, Amid Institutional Inertia, New Opportunities Arise for Smaller SFR Investors If They Can Access Capital, Pavlov Media Ramps Up Multifamily, Student Housing Fiber Expansion with Equity Partner, Baltimores Retail Market Is Showing Resiliency Post-Pandemic, Industrial Market Stays Elevatedin Northern Nevada, Omaha Office Market Is Somewhat Insulated from Broader Economic Conditions, Texas Office Owners Shift Priorities from Maximizing Rent to Showcasing Occupancy, Vibrancy, Slowdown in Leases, Development Help Baltimore Office Market to Rightsize, Local Business is Renos Primary Office Driver, InterFace Healthcare Real Estate Carolinas 2023, InterFace Southern California Desert Commercial Real Estate 2023. Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. in Business Administration the State University of New York (SUNY) Albany, and an MBA with an emphasis in finance and accounting from New York Universitys Leonard N. Stern School of Business. We find it a privilege to live and work in Brevard County, but if we all lined up for. The number of clients served by it is unknown. Any business would love to use the sales and property taxes it generates for its own purpose. Driftwood Capitals affiliate management company (DHM), a long-standing industry leader, is brought in to operate the hotels. We are also expanding our strategic partnerships with others in the market wherever we find synergies. It is not found money; it is called the cost of doing business and paying your fair share. Onze Wenn 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. Midwest Multifamily & Affordable Housing Business, Northeast Multifamily & Affordable Housing Business, Southeast Multifamily & Affordable Housing Business, Texas Multifamily & Affordable Housing Business, Western Multifamily & Affordable Housing Business. He has lived in the Aurora/Southeast Denver Metro area since 1965 and is an expert Getting ready for a yard project? Ground-up development from site identification through to opening. He also leads debt sourcing for the firms acquisitions and development businesses. ATLANTA, GA - Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired The. Brown Advisory Investment Solutions Group LLC. As a recent TDC member, it was difficult to get straight answers on what was being proposed and a specific breakdown of the $320 million supposedly being invested in the project. We execute the entire transaction upfront using our own capital and then give you access on a deal-by-deal basis. Caroline lives in Boca Raton with her husband and children, and enjoys tennis, cooking, travel and reading. Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. We believe our proprietary solution helps to reduce risk in the investment process. He was previously head of Asset Management for Stonebridge Companies and Woodbine Development, as well as Asset Manager for Maritz Wolff and Director of Finance for Marriott International. Aydanos a proteger Glassdoor y demustranos que eres una persona real. During the conference, Rodriguez Sr. sat down with Jolyne Caruso-Fitzgerald, divisional vice chairman, global wealth management, at investment banking company UBS. The table below is a blacklist consisting of Investment brokers who have scammed those who made complaints on Broker Complaint Registry. We are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. He said Driftwood Capital would consider joint ventures with other experienced investment groups and developers across the country. He lives with his wife Lauren, son Chase and dog Addy. Despite challenges from the pandemic, Driftwood Capital continues to add new hotels to its portfolio, such as with the Canopy by Hilton Tempe Downtown, Canopy by Hilton West Palm Beach Downtown and Home2 Suites by Hilton Ft. Lauderdale Downtown. No one business should be exempt;none treated differently.