Berkadia has arranged a highly structured $353 million capital solution on behalf of Kemmons Wilson Hospitality Partners and Ascendant Capital Partners in connection with the acquisition and privatization of Sotherly Hotels, a publicly traded hotel company that owns a portfolio of 10 assets across the Southeast United States.
The capitalization includes a $308 million senior mortgage loan and a $45 million structured mezzanine facility, together supporting the private equity sponsor’s acquisition of the public entity and the execution of a value-add business plan for the assets it is retaining.
The Washington, D.C.-based Berkadia Hotels & Hospitality mortgage banking team, led by managing director Jennifer Dakin, senior director Lindsey deButts, associate director Katelyn Reynolds, and analyst Jose Ison Cassab, arranged the debt and served as strategic capital markets advisor to Kemmons Wilson.
“This was a sophisticated, multi-layered capital stack that
