Select-service and extended-stay hotel investment company Mission Hill Hospitality has refinanced a three-hotel portfolio through a $140 million loan from EOS Hospitality Credit Partners.
The financing has a three-year term with multiple extension options and is secured by the Residence Inn Breckenridge, Colo.; the AC by Marriott Clearwater Beach, Fla.; and Courtyard by Marriott Clearwater Beach in Clearwater, Fla.
Mission Hill acquired the assets in 2023 and has since focused on operational enhancements and capital improvements across the portfolio. The hotels are managed by Peregrine Hospitality, which has taken on the management of the majority of Mission Hill’s portfolio of premium select-service and extended-stay hotels.
According to the Tampa Bay Business Journal, Mission Hill paid $113.7 million for the two Florida properties in 2023, following their development over the previous two years. The purchase price of the Colorado hotel was undisclosed.
“We are extremely pleased to be partnering with Mission Hill on this financing and look forward to doing much more together across their platform,” Christopher Jordan, co-founder and CEO of EOS Hospitality Credit Partners, said in a statement.
“As a specialized hospitality lender that is closely linked to a vertically integrated hotel investment and management platform, EOS is well-positioned to underwrite business plans and identify operational upside potential. Those capabilities, combined with our ability to provide flexible capital solutions, enable us to support hotel owners, operators and institutional sponsors on complex hospitality financings,” said Jordan.