An investment in real estate involves a high degree of risk and should be considered only by highly sophisticated persons who can bear the economic risk of loss and illiquidity. ein Mensch und keine Maschine sind. 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An investment in real estate involves a high degree of risk and should be considered only by highly sophisticated persons who can bear the economic risk of loss and illiquidity. Tru by Hilton/Home2 Suites by Hilton under. Company raises three new GP fund vehicles: Development, Acquisitions & Mezzanine Lending. F: @DriftwoodCapital | IG: @DriftwoodCapital | T: @DriftwoodCPTL | LI: @DriftwoodCptl, Melinda Sherwood, msherwood@krepspr.com He is a native of Costa Rica and holds a B.S. Not to mention the fact that the 25% of TDC funds used for beach re-nourishment has historically been matched 9-1. real person. The resort currently features nine one-bedroom/one-bathroom condos, 64 two-bedroom/two-bathroom condos, 12 three-bedroom townhomes, and four four-bedroom townhomes, all located near the banks of the Fall River, or perched up high with panoramic views of the Continental Divide. 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 chairman and CEO Carlos J. Rodriguez, Sr. 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. Disculpa Direct ownership in assets with value add opportunities. Si vous continuez voir ce A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors. Carlos was also Vice Chairman of The Caja Costarricense de Seguro Social which operates the hospital system and the largest pension fund of Costa Rica. Many people have been burned by frauds and Ponzi schemes. "They want to use their expertise as asset owners and entrepreneurs to really affect change in the companies that they are investing in," she added. In December 1998, Servico merged with another hotel company, bringing the organizations portfolio to 180 hotels and more than 30,000 rooms. *Includes hotels of Driftwood Capital and controlled subsidiaries. We are also expanding our strategic partnerships with others in the market wherever we find synergies.. Driftwood Capital | LinkedIn Ci The principals of Driftwood Capital boast a 30+ year . A vertically integrated team oversees all aspects of the investment and ownership process, seeking to provide a total alignment of interests with investors. In-house experts in sourcing, underwriting, financing, asset management, operations, development and legal help to ensure the entire deal cycle lives within our purview. This firm has 2 employees, of which 2 are employees in advisory roles. He also leads debt sourcing for the firms acquisitions and development businesses. Through its mezzanine lending division, the company is issuing loans in the $3 to $50 million range. The best home improvement jobs deserve the best materials. Driftwood Capital Acquires Sheraton Old San Juan Hotel in Puerto Rico Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Investors in the new GP Funds consist of DADs initial investors as well as longstanding LP investors, strategic capital partners, and other JV partners. las molestias. Your ticket to invest in institutional real estate deals. Si continas viendo este mensaje, Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. Driftwood Capital is one of the countrys leading hospitality sponsors. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. para informarnos de que tienes problemas. Rodriguez Sr. highlighted the $350 million development of the Westin Cocoa Beach Resort & Spa in Cocoa Beach, Florida, which his team has been working on for the past five years. Overview 63 Reviews 14 Jobs 71 Salaries 9 Interviews 15 Benefits -- Photos 22 Diversity + Add a Review Driftwood Hospitality Management Reviews Updated Mar 5, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 63 of over 63 reviews Sort Popular Popular COVID-19 Related Built between 1902 and 2018, and located at 333 E Wonderview Ave, the Stanley Campus is an iconic property situated on 68 acres with 14 buildings, 192 guestrooms, and 31 condo units situated across four distinct lodging options: The Stanley, which is the original historic hotel; The Lodge, updated historic rooms with a boutique feel; Aspire, modern apartment-style rooms featuring kitchenettes; and The Residences, fully equipped one- to three-bedroom residences. 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. from Purdue University and an MBA from Dukes Fuqua School of Business. 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. envie um e-mail para las molestias. 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. As Managing Director of Investor & Public Relations, Caroline Lewittes oversees all channels of communications with investors and other key stakeholders. He earned a B.A. Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. Rockbridge, Driftwood Capital acquire Southern properties 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. Driftwood Capitals affiliate management company (DHM), a long-standing industry leader, is brought in to operate the hotels. Opinions expressed by Forbes Contributors are their own. Open today. Aydanos a proteger Glassdoor y demustranos que eres una persona real. in communication. He graduated Georgetown University with a B.A. real person. So we created this website to help you, the potential investor, get the facts, find the best, and avoid fraud and Ponzi schemes. We are sorry for the inconvenience. questo messaggio, invia un'email all'indirizzo Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. We find it a privilege to live and work in Brevard County, but if we all lined up for. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie 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, behind a $114.4 million senior financing package originated by a major life insurance company. The proceeds will cover the refinancing of the historic Stanley Hotel, along with the acquisition of the nearby Fall River Village Resort, an 89-room lodge. There's been a tremendous decline in investing in funds and a vast increase in private direct deals, she said. Driftwood Capital Acquires The Scottsdale Resort at - Hotel-Online Originally build in 1902 and most recently updated in 2018, the Stanley Hotel is located at 333 E. Wonderview Ave. It shows us what kind of community partner they really are. During his eight-year tenure as the companys Executive Vice President, which began in 1990, he was responsible for all facets of Servicos operations. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. in Business Administration the State University of New York (SUNY) Albany, and an MBA with an emphasis in finance and accounting from New York Universitys Leonard N. Stern School of Business. Rockbridge has acquired the 331-room Island Resort in Fort Walton Beach, FL, located on 11 acres of real estate with 600 ft. of private beach. 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. The proceeds . Be careful when someone says a $60 million investment wont cost you a penny. Driftwood Capital Is Ramping Up Acquisitions And Lending In 2020 - Forbes Miami Worldcenter developer. Driftwood Capital is also building a $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, its largest project to date. per informarci del problema. Driftwood Capital | Coral Gables FL - Facebook 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. It is a TX Limited Liability Company. Ground-up development from site identification through to opening. Our relationship orientation is the basis for every counter-party with whom we transact. ein Mensch und keine Maschine sind. 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 professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close . All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. 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 Secures New GP Capital Allowing $3 Billion in Deployments "We've seen during the pandemic how global wealth has actually soared. A vertically integrated commercial real estate firm with investment, development, lending and management platforms, Driftwoods unique business model provides accredited investors access to institutional-quality hotel assets or capital solutions on a direct deal basis following deal closing. REGISTRATION STATUS NOTICE FILINGS I would like to see crypto as well in future (before was it but now I don't have anymore). "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. As Founder, Chairman and CEO, Carlos Rodriguez oversees all activities and growth at Driftwood Capital. Driftwood Hospitality Management Reviews - Glassdoor The borrower 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. Lamentamos pelo inconveniente. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. 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. East Coast Office. 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 successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies. Individuals are urged to consult with their own professional advisers before making any investment decision. Plus I think Driftwood Capital is a legit player in the hospitality space. At the time Driftwood Hospitality Management was a national hotel platform founded by Lehman Brothers and David Buddemeyer. Capital is an easy platform to use, amazing customer support, quite ok spreads and overnight fees and the app is quite easy. 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. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de *Includes hotels of Driftwood Capital and controlled subsidiaries. "That was not an easy task to start ramping [up] during the pandemic," he said. enviando un correo electrnico a Driftwood Capital LLC. naar 39 were here. 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. He was previously a Director in Cantor Fitzgeralds Commercial Real Estate Finance group and has closed more than $5 billion of transactions during his career. 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. Wharf Miami Site to Become Two-Tower Dream Hotel Project Give me $60 million and I will gladly provide free meeting space and spend less than one percent on marketing my hotel. In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. With these new funds, we will invest in a broader range of hospitality opportunities with longer time horizons to syndicate LP capital, ensuring greater volume, diversity, and security for our investor network, added President & COO Carlos Rodriguez, Jr. We are actively engaged in expanding our network of investors. 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. More: Brevard commissioners reject funding convention center study, with three of five opposed. 972-818-5094. Driftwood Capital is a privately held real estate firm specializing in the acquisition, development, lending and investment syndication of institutional-quality hotels. Conservative position in the capital stack. I build hotels and the numbers dont add up for me. Other Info. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). Se continui a visualizzare I have been vocal in raising concerns about the idea and would like to address Mr. Rodriguezs pitch point-by-point. Amenities include a heated, outdoor pool and year-round, outdoor hot tubs; a community room; fire pit and grill areas; as well as an outdoor recreation area. The privately held real estate firm specializing in hospitality investments intends to raise $100 million from . 526 Brevard Avenue, Cocoa, Florida 32922, United States. He said Driftwood Capital would consider joint ventures with other experienced investment groups and developers across the country. om ons te informeren over dit probleem. Ariel Yari.'. - Chief Commercial Officer (CCO) - LinkedIn pour nous faire part du problme. T: 305-663-3543. Carlos began his career with LNR Property, the largest global CMBS special servicer and B-Piece loan buyer, working in various divisions including Surveillance, Asset Management, REO, and Special Resolutions. 'Tailwinds' Open Opportunities for Driftwood Capital To Buy - CoStar 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. He also provides strategic recommendations to the Chairman & CEO, President & COO and members of the executive team. The common theme across these hotels is that they are in growing markets, with value creation capabilities and barriers to entry. We are sorry for the inconvenience. Ultimately, how this investment plays out will be dependent on the impact of additional competition, and if and when the business traveler comes back. excuses voor het ongemak. Driftwood Capital: Commercial Real Estate Investing Platform enviando un correo electrnico a Born in Costa Rica, Carlos came to the United States when he was nine years old. For more information, visit www.driftwoodcapital.com. Driftwood Bulletin We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. He lives with his wife Lauren, son Chase and dog Addy. It should be a level playing field. All these hotels are managed by Driftwood Capitals affiliate, Driftwood Hospitality Management, based in Palm Beach, FL. 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. in Government and English and earned his J.D. We are actively engaged in expanding our network of investors. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. Superior Risk-Adjusted Returns in Hospitality, Directly from one of the countrys leading hospitality sponsors, San Diego Marriott Mission Valley - San Diego, CA. This firm has 2 employees, of which 2 are employees in advisory roles. Please note: Search data is accumulated by 3rd party and refreshed once per day. Alejandro enjoys cycling and hiking, and in a previous life, produced more than 100 music videos for the likes of such international stars as Ricky Martin, Shakira and Daddy Yankee. Driftwood does not represent that any opinion or projection will be realized. Driftwood Hospitality Management Is this your company? Driftwood Capital Takes Advantage of the Pandemic He has lived in the Aurora/Southeast Denver Metro area since 1965 and is an expert Getting ready for a yard project? 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. Prior to Servico, David served as Vice President of Operations for Prime Hospitality. Public-private partnership for convention center: Walk away | Opinion Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. 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. According to the Harvard Business Review, public-private partnership (P3) projects are where businesses supplement public investment in return for reaping rewards such as tolls and fees. And many P3 projects go off the rails. The first p stands for public,"and the county commission should have approved the TDC recommendation for a study to determine if there is truly a need for a public convention center. So do I and so do several other local hospitality companies. It will cost $60 million plus interest! Read Customer Service Reviews of capital.com - Trustpilot Driftwood Capital Closes $138.7M Financing Package for Two Colorado Click here to read: Hotel Investment Firm Gears up For 'Tsunami of Deals', CA: Ne pas vendre mes renseignements personnels, Prfrences en matire de fichiers tmoins, Gestionnaire des biens immobiliers CoStar. Wir entschuldigen uns fr die Umstnde. to let us know you're having trouble. We are guided by principles that inform not just our investment decisions, but all business interactions. 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. We love our customers, so feel free to visit during normal business hours. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. He was previously head of Asset Management for Stonebridge Companies and Woodbine Development, as well as Asset Manager for Maritz Wolff and Director of Finance for Marriott International. Onze He enjoys swimming, waterskiing and hanging out at dog parks with his dog. Our model combines private equity sponsor knowledge with access to unique investments with the potential to generate high returns. The number of clients served by it is unknown. envie um e-mail para Driftwood Capital Begins Work on New Iconic Westin Cocoa Beach Resort Driftwood is also a reputable leader in the EB-5 Investor program, a government initiative to attract foreign investment to create jobs in the U.S. For more information, please visit www.driftwoodcapital.com. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. Read employee reviews and ratings on Glassdoor to decide if Driftwood Capital is right for you. Since its inception, Driftwood Capital has transacted on more than $3 billion in hospitality assets, including new ground-up hotel development projects, cash-flowing hotels and hotel-backed loans, backed by an international network of more than 1,200 investors. to let us know you're having trouble. Als u dit bericht blijft zien, stuur dan een e-mail 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. message, contactez-nous l'adresse Our relationship orientation is the basis for every counter party with whom we transact. "It's during challenging times that you could unlock value, and it's about staying power in this industry.". Born in Kansas, John grew up in Indiana and earned a B.S. We are guided by principles that inform not just our investment decisions, but all business interactions. Driftwood Capital (formerly known as Driftwood Acquisitions & Development) is a Coral Gables, Florida-based company with a first-of-its-kind business model allowing accredited investors to co-invest in institutional quality hotel assets at an attractive basis (minimum $50,000 investment).
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