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TriGate Capital announces the resolution of the Southeast Hotel Loan Portfolio

With the payoff of the Loan secured by the Burgess Hotel in the Buckhead submarket of Atlanta, GA, TriGate Capital is pleased to announce full realization of the Southeast Hotel Loan Portfolio. TriGate Property Partners IV, L.P. acquired seven sub-performing loans from a regional bank in December, 2020. The underlying collateral consisted of 714 keys across six select-service hotels and one full-service hotel with major brands. The acquisition was financed with a loan-on-loan facility from Wells Fargo Bank. TriGate internally serviced the loans and closely asset managed as needed to manage through the pandemic. Three of the loans were sold above par in April 2022 and four of the loans were paid off in full by the respective borrowers.

TriGate Capital has a long history of acquiring real estate loans from lenders and is actively seeking new loan acquisition opportunities.

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The property tour on the Investments page follows one continuous geographic imagery pyramid from Earth to aerial views of each property area. The photographs in the cards show the actual investments. Green outlines follow visible site and building edges in the aerial imagery. Crossroads highlights both of its buildings; the property photograph shows Building 100. Aerial dates: Florida, 2023; Nolen Farm and Dallas, 2022. The Nolen Farm card uses a newer community photograph.

Investment locations are based on TriGate’s closed-deal records across the United States. Property-tour dots match their aerial views.