pour nous faire part du problme. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. He lives with his wife Lauren, son Chase and dog Addy. message, please email Plus I think Driftwood Capital is a legit player in the hospitality space. Your ticket to invest in institutional real estate deals. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. ATLANTA, GA - Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired The. Please help us protect Glassdoor by verifying that you're a InvestingReview.org is not an investment adviser and is not endorsed by or affiliated with any U.S. or non-U.S. regulatory agency. Driftwood Capital Click to Rate or Add Salary Add Interview Add Benefits Glassdoor has 2 Driftwood Capital reviews submitted anonymously by Driftwood Capital employees. verdade. A handful of these investors will be named to three Advisory Boards and Investment Committees, bringing a vast array of experience and immense strategic value to the company. 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. In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. He said the Daytona hotel was referred to as "the dog" of the portfolio but over time showed its value. Join more than 1,200 accredited investors and start earning returns today. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capitals portfolio of hotels. Capital is an easy platform to use, amazing customer support, quite ok spreads and overnight fees and the app is quite easy. 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. Disculpa 39 were here. So we created this website to help you, the potential investor, get the facts, find the best, and avoid fraud and Ponzi schemes. Married to Meredith for 25 years, Glenn is a proud dad to Logan, Cooper and Tanner. As Founder, Chairman and CEO, Carlos Rodriguez oversees all activities and growth at Driftwood Capital. "We've seen during the pandemic how global wealth has actually soared. Born in Costa Rica, Carlos came to the United States when he was nine years old. envie um e-mail para Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail pour nous faire part du problme. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. "We are now finally seeing tailwinds in the industry for recovery," in a macro-economic sense, he said. Brevard commissioners reject funding convention center study, with three of five opposed, Your California Privacy Rights/Privacy Policy. 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. 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. 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. Since then, Driftwood Capital has funded $50 million in loans across five hotels Hyatt Place Noma, two Cambria hotels in California, Home2 Suites Charlotte and Shashi Hotel Mountain View totaling 805 rooms. Any business would love to use the sales and property taxes it generates for its own purpose. Past performance is not a guarantee of future results. "We're being very picky as to where we go for new development," he said. Driftwood Capital ("Driftwood"), a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, has closed a $138.7 million financing package for. Prior to joining Driftwood Capital, she worked in the same capacity at Kayne Anderson Real Estate in Boca Raton, FL. First, we want to continue to meet the growing demand in the marketplace for alternative investments. Israel Kreps, ikreps@krepspr.com Individuals are urged to consult with their own professional advisers before making any investment decision. 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. 972-818-5094. scusiamo se questo pu causarti degli inconvenienti. 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. The number of clients served by it is unknown. He has successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies. The firm's last reported SEC (U.S. Securities and Exchange Commission) status is listed as Aydanos a proteger Glassdoor verificando que eres una persona real. He said the lending platform gives Driftwood Capital the ability to fulfill a growing niche for small-to-midsize loans in the hotel space. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. In-house experts in sourcing, underwriting, financing, asset management, operations, development and legal help to ensure the entire deal cycle lives within our purview. We love our customers, so feel free to visit during normal business hours. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Si vous continuez voir ce 2023 France Publications, dba France Media Inc. Stanley Campus in Estes Park, Colo., features 192 guest rooms and 31 condominium units. East Coast Office. 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. As far as shedding light on the project, that is exactly what has not happened in the 10 months since the idea was presented. He earned a B.A. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close investments across diverse markets and asset types, from name brands to boutique properties. Its the new home of High Plains Bank in Wiggins. Then, we invite accredited investors to join us, coming into the deal at our basis. Driftwood Capital also has been active with dispositions. 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. I build hotels and the numbers dont add up for me. 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. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. We are sorry for the inconvenience. Before launching Driftwood, David served as Chairman and CEO of Servico Hotels and Resorts, a NYSE hotel company. Onze Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. from Boston University. Please note: Search data is accumulated by 3rd party and refreshed once per day. So do I and so do several other local hospitality companies. 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. enviando un correo electrnico a As Managing Director of Capital Markets, David oversees all mezzanine and preferred equity investments for the Lending strategy. 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. Thats why its so important to That great looking new building in Wiggins? He said Driftwood Capital will also be issuing loans in the $3 million to $50 million range through its mezzanine lending division. This firm has 2 employees, of which 2 are employees in advisory roles. 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. Built in 2000 and renovated in 2018, Fall River Village Resort is located at 200 Filbey Court. Fixed-income benefits with low correlation to asset performance. REGISTRATION STATUS NOTICE FILINGS As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close investments across diverse markets and asset types, from name brands to boutique properties. Miami Worldcenter developer. Driftwood Capital LLC. 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 vous continuez voir ce Before moving over to private equity, Caroline worked at public relations agencies in her native New York, where she created launch and visibility programs for hotels, restaurants, government agencies, hospitals, colleges, real estate developers and more. We are sorry for the inconvenience. ein Mensch und keine Maschine sind. However, I dont believe that is a sustainable option as the property ages and degrades. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. MintonBlock has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of . This firm has 2 employees, of which 2 are employees in advisory roles. She said 73% of the family offices who invest in real estate are doing it for yield, diversification and returns. In December 1998, Servico merged with another hotel company, bringing the organizations portfolio to 180 hotels and more than 30,000 rooms. The table below is a blacklist consisting of Investment brokers who have scammed those who made complaints on Broker Complaint Registry. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. 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. naar 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. Unique capital formation strategies (EB5, Opportunity Zone). We are actively engaged in expanding our network of investors. When not attending their various sporting events, he can be found playing tennis and golf. Caso continue recebendo esta mensagem, Driftwood Capital is a privately held real estate firm specializing in the acquisition, development, lending and investment syndication of institutional-quality hotels. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. First, we want to continue to meet the growing demand in the marketplace for alternative investments. Nous sommes dsols pour la gne occasionne. I guess we are to be impressed with a proposed $300 million-plus project. 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. He expects the hotels will be cash-flow positive in 2022. 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. All information provided on this website is provided without warranty and for informational purposes only. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners, LP (DLP), behind a $114.4 million senior financing package originated by a major life insurance company. 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. Unfortunately, every day there are Investment brokers looking to scam unsuspecting victims. He is a native of Costa Rica and holds a B.S. As Chief Commercial Officer, Alejandro Navia is responsible for marketing and sales strategies for the firms investment products, including creating Driftwoods EB-5 Program. And this is a Westin franchise hotel. Si continas viendo este mensaje, Rockbridge acquired the property from the original . Caruso-Fitzgerald oversees a group of advisors who manage clients with $100 million and more to invest. He is a graduate of Florida International University with degrees in Business Administration and International Business and holds a real estate brokers license in the State of Florida. If you continue to see this Onze 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. A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. If you continue to see this 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. The Cocoa Beach Hotel Association voted against this idea; its time for the county commission to do the same. Copyright 2019 by InvestingReview.org / All Rights Reserved. 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. 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. Conservative position in the capital stack. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capital's portfolio of hotels. Disculpa The public loses the multiplied benefits of these tax dollars. Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. Se continui a visualizzare F: @DriftwoodCapital | IG: @DriftwoodCapital | T: @DriftwoodCPTL | LI: @DriftwoodCptl, Melinda Sherwood, msherwood@krepspr.com 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. I can finally tell you we're there," he said. Carlos has been in the hospitality business for over 35 years where he has operated, acquired, developed, and made loans to various hotels all over the United States. 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, 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. He has lived in the Aurora/Southeast Denver Metro area since 1965 and is an expert Getting ready for a yard project? Use the CB Insights Platform to explore Driftwood Capital's full profile. InvestingReview.org does not provide investment advice. Si continas recibiendo este mensaje, infrmanos del problema 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. Individuals are urged to consult with their own professional advisers before making any investment decision. excuses voor het ongemak. It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. He lives with his wife Johannah and their baby boy, and enjoys travel, design and new technologies. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. 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. No one business should be exempt;none treated differently. 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. As Founder, President and COO, Carlos Rodriguez Jr. is responsible for the day-to-day operations of the company and oversees new product development as well as investment strategy. Nous sommes dsols pour la gne occasionne. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. Aydanos a proteger Glassdoor verificando que eres una persona real. Prior to joining Driftwood in 2018, Jorge practiced law at Greenberg Traurig, LLP, where he represented clients in private equity fund formations, complex joint ventures, and cross-border mergers and acquisitions. So do I and so do several other local hospitality companies. Yes, Driftwood has several hotels in the area. 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. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. Our model combines private equity sponsor knowledge and access to unique investments with the potential to generate high returns. Driftwood does not represent that any opinion or projection will be realized. 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. 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. envie um e-mail para 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. questo messaggio, invia un'email all'indirizzo Se continui a visualizzare 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. 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. message, please email from Purdue University and an MBA from Dukes Fuqua School of Business. Rodriguez Sr. said more are in the pipeline. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. To finance its development and lending strategy, Driftwood Capital is setting up new GP funds through the companys initial investors as well as longstanding LP investors, strategic capital partners, and other JV partners. Internet Explorer presents a security risk. las molestias. to let us know you're having trouble. Driftwood Capital, a real estate firm focused on hospitality investments, raised $250 million in GP capital for development, acquisitions and lending. Wenn The Westin brand is owned by Marriott International and requires a franchise hotel to have a certain amount of meeting space. With this acquisition, Driftwood Capital's portfolio grows to 23 full-service hotels and seven new ground-up hotel developments. Originally build in 1902 and most recently updated in 2018, the Stanley Hotel is located at 333 E. Wonderview Ave. Driftwood Capital is targeting development and acquisition deals across the country in the $30 million to $150 million range, though as evidenced by the companys planned $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, Fla., they have the capacity to take on larger projects. Wenn Some of the companys hotel properties include the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale, the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks. 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. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. But that is simply not how it works. Brown Advisory Investment Solutions Group LLC. We are also expanding our strategic partnerships with others in the market wherever we find synergies.. During his eight-year tenure as the companys Executive Vice President, which began in 1990, he was responsible for all facets of Servicos operations. 120-Day Approval, with a registration date of Nov 7, 2018. The common theme across these hotels is that they are in growing markets, with value creation capabilities and barriers to entry. *Includes hotels of Driftwood Capital and controlled subsidiaries. Contact: Melinda Sherwood msherwood@krepspr.com / Subscribe to the one-and-only Hotel-Online! per informarci del problema. Operational performance distributions & upside participation benefits. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. Driftwood Capital targets deal level returns in excess of 15% IRR and average dividends over 8% for LP investors. MIAMIDriftwood Capital (formerly Driftwood Acquisitions & Development), a privately held real estate firm specializing in hospitality investments, is restructuring and scaling up its. Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil 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. Since the Funds launch in late 2020, DLP has closed on more than $420 million of financings for high-quality hotels and sponsors across the country. Lamentamos It shows us what kind of community partner they really are. If they decide to continue to operate the International Palms, then so be it. Read employee reviews and ratings on Glassdoor to decide if Driftwood Capital is right for you. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. Tru by Hilton/Home2 Suites by Hilton under. las molestias. Second, we want to ensure we have a long runway ahead of us for future capital deployments.. "Believe it or not, that's been the theme of 2021; despite not having cash flow, people are coming around to finding and hunting for yields," he said. message, contactez-nous l'adresse Our relationship orientation is the basis for every counter-party with whom we transact. Our relationship orientation is the basis for every counter party with whom we transact. The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors, Rodriguez Sr. said. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Yes, Driftwood has several hotels in the area. He was previously head of Asset Management for Stonebridge Companies and at Franklin & Marshall College and enjoys playing golf and soccer as well as running. Company raises three new GP fund vehicles: Development, Acquisitions & Mezzanine Lending. The county commission seems opposed, but with his dream team of lobbyists, former county commissioner and former county attorney, Mr. Rodriguez must feel he still has a shot. The principals. Si continas recibiendo este mensaje, infrmanos del problema Past performance is not a guarantee of future results. los inconvenientes que esto te pueda causar. 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.