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Si continas viendo este mensaje, message, please email As Managing Director of Investor & Public Relations, Caroline Lewittes oversees all channels of communications with investors and other key stakeholders. Relative to 2019, several hotels in Driftwood's portfolio are exceeding pre-pandemic performance, including the Hampton Daytona Beach/Beachfront, the DoubleTree by Hilton Historic District in St. Augustine, Hilton Dallas/Rockwall Lakefront and Margaritaville Lake Resort Lake of the Ozarks. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. Use the CB Insights Platform to explore Driftwood Capital's full profile. We are also expanding our strategic partnerships with others in the market wherever we find synergies. Brevard commissioners reject funding convention center study, with three of five opposed, Your California Privacy Rights/Privacy Policy. Other Info. Additionally, 82% of those surveyed indicated that they plan to increase their allocations to real estate this year. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Additionally, Driftwood Capital has strengthened its management team to help position it as a leader in the marketplace, and recently hired David Steiner as Managing Director of Capital Markets, Nelson Parker as Managing Director of Development, and Paul Sacco as Chief Investment Officer. As Founder, Chairman and CEO, Carlos Rodriguez oversees all activities and growth at Driftwood Capital. We are guided by principles that inform not just our investment decisions, but all business interactions. 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. 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. Si continas recibiendo este mensaje, infrmanos del problema Ultimately, how this investment plays out will be dependent on the impact of additional competition, and if and when the business traveler comes back. 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. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. The principals of Driftwood Capital boast a 30+ year . Read employee reviews and ratings on Glassdoor to decide if Driftwood Capital is right for you. Prior to joining Driftwood Capital, she worked in the same capacity at Kayne Anderson Real Estate in Boca Raton, FL. Then, we invite accredited investors to join us, coming into the deal at our basis. message, please email He is the recipient of numerous industry awards such as Entrepreneur of the year for the Doral Chamber of Commerce, the National Excellence in Construction award from the Associated Builders and Contractors Inc., the Lifetime Achievement Award from Hilton, Hotelier of the Year for the Latin Hotel Owners Association, Developer of the Year for various hotel brands, among many other recognitions that he has received throughout his life. He is licensed to practice law in Florida. Caso continue recebendo esta mensagem, At the time Driftwood Hospitality Management was a national hotel platform founded by Lehman Brothers and David Buddemeyer. Onze I trade with Capital.com for over 4 years now and overall they are the best in UK for the moment. Amenities include a heated, outdoor pool and year-round, outdoor hot tubs; a community room; fire pit and grill areas; as well as an outdoor recreation area. to let us know you're having trouble. verdade. Direct ownership in assets with value add opportunities. It is a TX Limited Liability Company. Investment Adviser Firm Summary DRIFTWOOD CAPITAL, LLC ( CRD # 299088/SEC#:801-114262 ) DRIFTWOOD CAPITAL, LLC View latest Form ADV filed The investment adviser you have selected is NOT currently registered and is NOT filing reports with the SEC or any state. This firm has 2 employees, of which 2 are employees in advisory roles. Through its mezzanine lending division, the company is issuing loans in the $3 to $50 million range. A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL Lamentamos pelo inconveniente. Our dedicated team is here to answer all your questions and make the investing process effortless. Driftwood Capital (formerly known as Driftwood Acquisitions & Development) is a Coral Gables, Florida-based company with a first-of-its-kind business model allowing accredited investors to co-invest in institutional quality hotel assets at an attractive basis (minimum $50,000 investment). real person. Its the new home of High Plains Bank in Wiggins. As Chief Legal Officer & General Counsel, Jorge L. Gomez-Moller leads Driftwood Capitals legal team and outside counsel in new acquisitions, developments, lending and dispositions, as well as asset-level legal issues. Wenn The common theme across these hotels is that they are in growing markets, with value creation capabilities and barriers to entry. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. I have been vocal in raising concerns about the idea and would like to address Mr. Rodriguezs pitch point-by-point. questo messaggio, invia un'email all'indirizzo Carlos is the founder and former Chairman and CEO of Cardel Hotels, which merged with Driftwood Hospitality Management in 2003. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. enva un correo electrnico a Operational performance distributions & upside participation benefits. Carlos began his career with LNR Property, the largest global CMBS special servicer and B-Piece loan buyer, working in various divisions including Surveillance, Asset Management, REO, and Special Resolutions. All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. Contact: Melinda Sherwood msherwood@krepspr.com / Subscribe to the one-and-only Hotel-Online! Driftwood Capitals affiliate management company (DHM), a long-standing industry leader, is brought in to operate the hotels. 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. 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, Be careful when someone says a $60 million investment wont cost you a penny. We are sorry for the inconvenience. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. He also holds a certificate in Commercial Real Estate Analysis & Investment from the Massachusetts Institute of Technology (MIT) School of Architecture & Planning. 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. Nous sommes dsols pour la gne occasionne. Israel Kreps, ikreps@krepspr.com 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. Unfortunately, every day there are Investment brokers looking to scam unsuspecting victims. Born in Costa Rica, Carlos came to the United States when he was nine years old. We find it a privilege to live and work in Brevard County, but if we all lined up for $60 million the Countys TDC would quickly run out of money. Before launching Driftwood, David served as Chairman and CEO of Servico Hotels and Resorts, a NYSE hotel company. para informarnos de que tienes problemas. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. las molestias. Rodriguez Sr. highlighted the $350 million development of the Westin Cocoa Beach Resort & Spa in Cocoa Beach, Florida, which his team has been working on for the past five years. verdade. A native of Coral Gables, FL, Jorge and his wife reside there with their two sons both born during the pandemic! los inconvenientes que esto te pueda causar. per informarci del problema. Kreps DeMaria PR We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. I would like to see crypto as well in future (before was it but now I don't have anymore). in Finance from Vanderbilt University, a hospitality certificate from Cornell University, and an MBA from Duke Universitys Fuqua School of Business. When he gets a free moment, he enjoys tennis, golf, fly fishing, boating and cooking. We are also expanding our strategic partnerships with others in the market wherever we find synergies.. She is a graduate of Boston Universitys College of Communications, where she earned a B.S. A vertically integrated commercial real estate firm with investment, development, lending and management platforms, Driftwoods unique business model provides accredited investors access to institutional-quality hotel assets or capital solutions on a direct deal basis following deal closing. Second, we want to ensure we have a long runway ahead of us for future capital deployments, explained Chairman & CEO Carlos J. Rodriguez, Sr. In addition, with the launch of our lending platform, we now have the ability to fulfill a growing niche for small to midsize loans in the hotel space., Our real estate asset syndication model has proven very successful and popular with investors. "We're being very picky as to where we go for new development," he said. Lamentamos 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. He said Driftwood Capital will also be issuing loans in the $3 million to $50 million range through its mezzanine lending division. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. 120-Day Approval, with a registration date of Nov 7, 2018. As Founder and President of Driftwood Hospitality Management, David Buddemeyer oversees all operations and management of more than 80 hotels. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. 972-818-5094. All information provided on this website is provided without warranty and for informational purposes only. 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. The public loses the multiplied benefits of these tax dollars. 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. *Includes hotels of Driftwood Capital and controlled subsidiaries. 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. . "The other big wave that drove real estate investing this past year is opportunity zones," she added. from Purdue University and an MBA from Dukes Fuqua School of Business. Driftwood is also a reputable leader in the EB-5 Investor program, a government initiative to attract foreign investment to create jobs in the U.S. For more information, please visit www.driftwoodcapital.com. Chief Legal Officer & General Counsel, Partner, Managing Director, Investor & Public Relations. With these new funds, we will invest in a broader range of hospitality opportunities with longer time horizons to syndicate LP capital, ensuring greater volume, diversity, and security for our investor network, added President & COO Carlos Rodriguez, Jr. We are actively engaged in expanding our network of investors. Finally, our experience in the hospitality sector is paramount to our collective success. Managing the portfolio of Coral Gables, Florida-based Driftwood Capital is no easy task, but founder, President and Chief Operating Officer Carlos Rodriguez Jr. said the company continues to achieve goals for further growth. Plus I think Driftwood Capital is a legit player in the hospitality space. The Westin brand is owned by Marriott International and requires a franchise hotel to have a certain amount of meeting space. I build hotels and the numbers dont add up for me. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). enviando un correo electrnico a A Coral Gables hotel development and financing company is aggressively scaling up its acquisitions and construction strategy. The company holds stakes in some 25 hotels, including two that just opened in West Palm Beach and Fort Lauderdale. If they decide to continue to operate the International Palms, then so be it. Si vous continuez voir ce Hotels that are under contract to sell include the Holiday Inn Express & Suites Orlando International Drive and the Sheraton Salt Lake City Hotel, which are both more business-oriented hotels. The sponsor will use a portion of the proceeds, $6.9 million, toward renovations of the Stanley Hotel in early 2022, including conversion of the ballroom to a restaurant, bathroom updates in the hotels main building, improvements to the presidential cottage, and investments in several new food and beverage venues and related amenities. Caso continue recebendo esta mensagem, Driftwood should move forward with a project that justifies its own private investment. 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. The principals. A vertically integrated team oversees all aspects of the investment and ownership process, seeking to provide a total alignment of interests with investors. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. The number of clients served by it is unknown. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. 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. Tru by Hilton/Home2 Suites by Hilton under. "We've seen during the pandemic how global wealth has actually soared. Driftwood Capital LLC. With this acquisition, Driftwood Capital's portfolio grows to 23 full-service hotels and seven new ground-up hotel developments. Some of the company's hotels that have a longer road to recovery include the San Diego Marriott Mission Valley because of a renovation and the Hilton Durham near Duke University due to campuses being slower to ramp up. Capital is an easy platform to use, amazing customer support, quite ok spreads and overnight fees and the app is quite easy. Please help us protect Glassdoor by verifying that you're a What Mr. Rodriguez is proposing is a private project using public dollars. Your ticket to invest in institutional real estate deals. The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Wenn "It's during challenging times that you could unlock value, and it's about staying power in this industry.". ESTES PARK, COLO. Driftwood Capital has arranged a $138.7 million financing package for two resort hotels in Estes Park on behalf of Grand Heritage Hotel Group. But that is simply not how it works. Prior to Servico, David served as Vice President of Operations for Prime Hospitality. Since its inception, Driftwood Capital has transacted on more than $3 billion in hospitality assets, including new ground-up hotel development projects, cash-flowing hotels and hotel-backed loans, backed by an international network of more than 1,200 investors. It should be a level playing field. to let us know you're having trouble. Finally, our experience in the hospitality sector is paramount to our collective success. In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. According to the Harvard Business Review, public-private partnership (P3) projects are where businesses supplement public investment in return for reaping rewards such as tolls and fees. And many P3 projects go off the rails. The first p stands for public,"and the county commission should have approved the TDC recommendation for a study to determine if there is truly a need for a public convention center. Mr. Rodriguez states his company has significant skin in the game. That skin is really the pound of flesh he is trying to extract from the county. We are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. Near that property is the development site for the Element Melbourne Beach, which he said is another deal that has great potential due to the market's diverse demand drivers, as well as a lack of any other new beachfront hotels and extended-stay hotels. Driftwood Capital is a boutique investment platform for accredited investors to access institutional quality, income producing, hotel assets in the United States. All the properties are managed by company affiliate Driftwood Hospitality. Glenn holds a B.S. The Fund focuses on providing mezzanine loans and preferred equity for existing hospitality assets, as well as ground up hotel development projects in the United States. The borrower will use a portion of the proceeds, $6.9 million, toward renovations of the Stanley Hotel in early 2022, including conversion of the ballroom to a restaurant; bathroom updates in the hotels main building; improvements to the presidential cottage; and investments in several new food and beverage venues and related amenities. The common . Get in touch with our agents today! Yes, Driftwood has several hotels in the area. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close . He also leads debt sourcing for the firms acquisitions and development businesses. excuses voor het ongemak. He currently serves as a member of the Board of Advisors of First American Bank for Florida, the Baptist Hospital/ Miami Neuroscience Institute Board, the Latin Hotel Owners Association Board, as well as a member of the Board of Advisors of Duke Universitys Fuqua School of Business, the R. Motwani Family Academy of Hospitality & Tourism Management at Broward College, the MRED+U Advisory Board of the University of Miami, and a member of Marriotts Bridging the Gap Steering Committee. Ci In December 1998, Servico merged with another hotel company, bringing the organizations portfolio to 180 hotels and more than 30,000 rooms. During the conference, Rodriguez Sr. sat down with Jolyne Caruso-Fitzgerald, divisional vice chairman, global wealth management, at investment banking company UBS. Driftwood does not represent that any opinion or projection will be realized. from Boston University. Ground-up development, a 130-room suite-style beachfront hotel in Melbourne on Floridas Space Coast. We will consider joint ventures with other experienced investment groups/developers across the country.. 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. As Managing Director of Capital Markets, David oversees all mezzanine and preferred equity investments for the Lending strategy. 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. Our dedicated team is here to answer all your questions and make the investing process effortless. For more information, visit www.driftwoodcapital.com. Additionally, with this being a Marriott product, it fills a void in a Hilton-dominated market, he said. When it comes to landscape Did you know Your Butcher, Frank has super tasty delicatessen salads? "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. The information contained herein reflects the opinions and projections of Driftwood as of the date hereof, which are subject to change without notice at any time. 603 MUNGER AVENUE, #100-205, DALLAS, TX . It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. The best home improvement jobs deserve the best materials. We believe our proprietary solution helps to reduce risk in the investment process. Past performance is not a guarantee of future results. PARTNER & CHIEF COMPLIANCE OFFICER owns 75% or more, PARTNER owns more than 10% but less than 25%. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. 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. This firm has 2 employees, of which 2 are employees in advisory roles. Driftwood Capital is a privately held real estate firm specializing in the acquisition, development, lending and investment syndication of institutional-quality hotels. He works with leadership on new strategies, fund structuring and fund operations, and spearheaded the launch of Driftwood Capitals Opportunity Zone program. The proceeds will cover the refinancing of the historic Stanley Hotel, along with the acquisition of the nearby Fall River Village Resort, an 89-room lodge. excuses voor het ongemak. Jorge serves as Chief Compliance Officer for Driftwood Advisors, LLC, a Registered Investment Adviser with the United States Securities and Exchanges Commission. He earned a B.A. para nos informar sobre o problema. 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. Fixed-income benefits with low correlation to asset performance. Each of these loans represent a strong loan-to-value ratio, premier sponsorships and solid loan structures that aren't too over-leveraged. Als u dit bericht blijft zien, stuur dan een e-mail And this is a Westin franchise hotel. In-house experts in sourcing, underwriting, financing, asset management, operations, development and legal help to ensure the entire deal cycle lives within our purview. Join more than 1,200 accredited investors and start earning returns today. message, contactez-nous l'adresse If you continue to see this He continued, Adding two hotels to DLPs portfolio that were resilient during the pandemic and are poised for future growth was a great way to round out 2021.. "That was not an easy task to start ramping [up] during the pandemic," he said. Conservative position in the capital stack. om ons te informeren over dit probleem. Rodriguez Sr. said more are in the pipeline. During his eight-year tenure as the companys Executive Vice President, which began in 1990, he was responsible for all facets of Servicos operations. We are sorry for the inconvenience. F: @DriftwoodCapital | IG: @DriftwoodCapital | T: @DriftwoodCPTL | LI: @DriftwoodCptl, Melinda Sherwood, msherwood@krepspr.com In total, there are 2,750 billionaires around the world that in total control $13 trillion, up from $8 trillion in 2020, she said. real person. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. ein Mensch und keine Maschine sind. Wir entschuldigen uns fr die Umstnde. David earned a B.A. "To achieve that [internal rate of return], even without the cash flow that we had the [past] couple of years, is attractive," he added. The firm's last reported SEC (U.S. Securities and Exchange Commission) status is listed as Disculpa He is a native of Costa Rica and holds a B.S. So do I and so do several other local hospitality companies. We are guided by principles that inform not just our investment decisions, but all business interactions. He has successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies. He also provides strategic recommendations to the Chairman & CEO, President & COO and members of the executive team. He said the Daytona hotel was referred to as "the dog" of the portfolio but over time showed its value. He lives with his wife Johannah and their baby boy, and enjoys travel, design and new technologies. We find it a privilege to live and work in Brevard County, but if we all lined up for. The property has over 25,000 square feet of meeting and event space, multiple food and beverage venues, a spa, and a 550-person concert venue, The Stanley Live. Driftwood Capital is also building a $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, its largest project to date. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Please help us protect Glassdoor by verifying that you're a metal detecting hunts 2022, how to search avatars in vrchat,