Sunrise Realty Trust Commits $27.3 Million in a Senior Loan for the Thompson Hotel in San Antonio
Sunrise Realty Trust (Nasdaq: SUNS) has committed $27.3 million, with $25 million already funded, in a $42 million senior loan for refinancing the Thompson San Antonio Hotel. This marks SUNS's second transaction with DC Partners, the project's sponsor. The hotel, part of a 20-story mixed-use development completed in 2020, features 162 luxury rooms and various amenities. Located near San Antonio's Riverwalk and key attractions, it's positioned to meet the city's growing demand for upscale accommodations. San Antonio, the seventh most populous U.S. city, attracts over 30 million visitors annually. Brian Sedrish, CEO of SUNS, emphasized their commitment to supporting borrowers with customized financing solutions.
Sunrise Realty Trust (Nasdaq: SUNS) ha impegnato 27,3 milioni di dollari, con 25 milioni già finanziati, in un prestito senior di 42 milioni di dollari per il rifinanziamento del Thompson San Antonio Hotel. Questo segna la seconda transazione di SUNS con DC Partners, il promotore del progetto. L'hotel, parte di uno sviluppo a uso misto di 20 piani completato nel 2020, dispone di 162 camere di lusso e vari servizi. Situato vicino al Riverwalk di San Antonio e alle principali attrazioni, è posizionato per soddisfare la crescente domanda della città di sistemazioni di alta classe. San Antonio, la settima città più popolosa degli Stati Uniti, attira oltre 30 milioni di visitatori all'anno. Brian Sedrish, CEO di SUNS, ha sottolineato il loro impegno nel supportare i mutuatari con soluzioni di finanziamento personalizzate.
Sunrise Realty Trust (Nasdaq: SUNS) se ha comprometido a invertir 27,3 millones de dólares, con 25 millones ya financiados, en un préstamo senior de 42 millones de dólares para el refinanciamiento del Thompson San Antonio Hotel. Esta es la segunda transacción de SUNS con DC Partners, el patrocinador del proyecto. El hotel, parte de un desarrollo de uso mixto de 20 pisos completado en 2020, cuenta con 162 habitaciones de lujo y diversas comodidades. Ubicado cerca del Riverwalk de San Antonio y de las principales atracciones, está posicionado para satisfacer la creciente demanda de la ciudad por alojamientos de alta gama. San Antonio, la séptima ciudad más poblada de Estados Unidos, atrae a más de 30 millones de visitantes al año. Brian Sedrish, CEO de SUNS, enfatizó su compromiso de apoyar a los prestatarios con soluciones de financiación personalizadas.
선라이즈 리얼티 트러스트(Nasdaq: SUNS)는 톰슨 샌안토니오 호텔 재융자를 위한 4,200만 달러의 선순위 대출에 2,730만 달러를 약정했으며, 그 중 2,500만 달러는 이미 자금이 지원되었습니다. 이는 SUNS가 프로젝트의 후원사인 DC 파트너스와 두 번째 거래를 의미합니다. 호텔은 2020년에 완공된 20층 혼합 용도 개발의 일환으로, 162개의 고급 객실과 다양한 편의 시설을 갖추고 있습니다. 샌안토니오의 리버워크와 주요 관광 명소 근처에 위치하여 도시의 고급 숙소에 대한 증가하는 수요를 충족할 수 있도록 설계되었습니다. 샌안토니오는 미국에서 일곱 번째로 인구가 많은 도시로, 매년 3천만 명 이상의 관광객을 끌어들입니다. 브라이언 세드리쉬, SUNS의 CEO는 맞춤형 금융 솔루션으로 차입자를 지원하겠다는 약속을 강조했습니다.
Sunrise Realty Trust (Nasdaq: SUNS) s'est engagé à investir 27,3 millions de dollars, dont 25 millions déjà financés, dans un prêt senior de 42 millions de dollars pour le refinancement de l'hôtel Thompson de San Antonio. Cela marque la deuxième transaction de SUNS avec DC Partners, le promoteur du projet. L'hôtel, qui fait partie d'un développement à usage mixte de 20 étages achevé en 2020, dispose de 162 chambres de luxe et de diverses commodités. Situé près du Riverwalk de San Antonio et des principales attractions, il est bien positionné pour répondre à la demande croissante de la ville en matière d'hébergements haut de gamme. San Antonio, la septième ville la plus peuplée des États-Unis, attire plus de 30 millions de visiteurs chaque année. Brian Sedrish, PDG de SUNS, a souligné leur engagement à soutenir les emprunteurs avec des solutions de financement personnalisées.
Sunrise Realty Trust (Nasdaq: SUNS) hat sich verpflichtet, 27,3 Millionen Dollar zu investieren, von denen bereits 25 Millionen Dollar finanziert sind, in ein Senior-Darlehen von 42 Millionen Dollar zur Refinanzierung des Thompson San Antonio Hotel. Dies ist die zweite Transaktion von SUNS mit DC Partners, dem Projektträger. Das Hotel, Teil eines 20-stöckigen Mischobjekts, das 2020 fertiggestellt wurde, verfügt über 162 Luxuszimmer und verschiedene Annehmlichkeiten. Es befindet sich in der Nähe des Riverwalk von San Antonio und wichtiger Attraktionen und ist gut positioniert, um der wachsenden Nachfrage der Stadt nach gehobenen Unterkünften gerecht zu werden. San Antonio, die siebtgrößte Stadt der USA, zieht jährlich über 30 Millionen Besucher an. Brian Sedrish, CEO von SUNS, betonte ihr Engagement, Kreditnehmer mit maßgeschneiderten Finanzlösungen zu unterstützen.
- Committed $27.3 million in a senior loan for a luxury hotel refinancing
- Second transaction with DC Partners, indicating strong business relationships
- Investment in a prime location in San Antonio, a growing market with 30 million annual visitors
- Diversification of portfolio with high-end hospitality asset
- None.
Insights
Sunrise Realty Trust's
Key financial implications include:
- Diversification: By expanding its portfolio into the luxury hotel sector in San Antonio, SUNS is diversifying its revenue streams and geographical exposure.
- Potential for stable returns: The senior loan structure typically offers more security compared to equity investments, potentially providing SUNS with a steady income stream.
- Market positioning: This deal strengthens SUNS's position in the commercial real estate lending market, particularly in the hospitality sector.
The fact that this is SUNS's second transaction with DC Partners suggests a growing relationship that could lead to future deal flow. However, investors should note the inherent risks in the hospitality sector, especially given recent volatility due to global events affecting travel and tourism.
From a financial perspective, while the
The Thompson Hotel investment in San Antonio represents a calculated bet on the city's growing tourism and business travel sectors. San Antonio, as the seventh most populous U.S. city with 30 million annual visitors, presents a robust market for upscale accommodations.
Several factors make this investment noteworthy:
- Prime location: Situated in the Art District overlooking the Riverwalk, the hotel is well-positioned to attract both leisure and business travelers.
- Recent development: Completed in 2020, the property offers modern amenities that cater to high-end clientele, potentially commanding premium rates.
- Mixed-use synergy: Being part of a larger mixed-use development can create a self-sustaining ecosystem, potentially boosting occupancy rates.
However, investors should consider potential challenges:
- Market saturation: The influx of new hotels in popular urban centers can lead to increased competition and potential pressure on room rates.
- Economic sensitivity: Luxury hotels can be more vulnerable to economic downturns as both business and leisure travelers may opt for more budget-friendly options.
The commitment to this property suggests confidence in San Antonio's continued growth and appeal as a destination. The success of this investment will likely depend on the hotel's ability to differentiate itself in an increasingly competitive market and capitalize on San Antonio's growing visitor numbers.
WEST PALM BEACH, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed
The Thompson San Antonio Hotel, located at 115 Lexington Avenue in San Antonio’s Art District, is part of a 20-story mixed-use development completed in 2020. The Project overlooks the San Antonio Riverwalk and is near attractions such as the Tobin Center for the Performing Arts. Spanning almost 140,000 square feet, the Project features 162 luxury hotel rooms and offers a range of amenities including two restaurants, a full-service spa, a gym and 5,000 square feet of conference facilities.
As the seventh most populous city in the United States, San Antonio boasts a growing economy and hosts over 30 million visitors annually, attracting both business and leisure travel. We believe the Thompson San Antonio Hotel is exceptionally well-positioned to meet the city's growing demand for upscale accommodations.
"We are excited to support DC Partners with this second transaction after previously providing a loan in Houston, Texas for a separate project. This partnership underscores our commitment to supporting our borrowers’ growth with bespoke financing solutions. Our borrower-centric approach aims to have every project receive the focused attention and customized support it needs to succeed," said Brian Sedrish, Chief Executive Officer of SUNS.
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions for sponsors in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views
and projections with respect to, among other things, San Antonio’s growing economy and the Thompson San Antonio being well-positioned to meet San Antonio’s growing demand for upscale accommodations. All statements other than statements of historical fact are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in the Company’s registration statement on Form 10, available on the SEC’s website, could cause actual results and performance to differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact:
Robyn Tannenbaum & Lana Ping
561-510-2293
ir@sunriserealtytrust.com
Media Contact:
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
rmyers@profileadvisors.com
FAQ
What is the total amount of the senior loan for the Thompson San Antonio Hotel?
How much has Sunrise Realty Trust (SUNS) funded for the Thompson San Antonio Hotel project?
Who is the sponsor of the Thompson San Antonio Hotel project that SUNS is financing?
How many rooms does the Thompson San Antonio Hotel have?
