Dallas / Success Stories

From Bear Stearns to Citigroup – Lenders Turn to HVS Dallas For Single Asset and Portfolio Appraisals

Major lenders were highly active in the hotel industry in 2005, as the debt and equity markets continued to return to the sector at a feverish pace. All lenders again turned to HVS to service their hotel appraisal needs during this critical year, as HVS assisted with consulting on virtually every major deal.

The HVS Assignment
Lenders such as Bear Stearns turned to HVS Dallas to appraise their portfolio transactions with Blackstone (the largest portfolio transaction of the year) and Sunstone, while lenders such as Countrywide, Citigroup, and GE turned to HVS Dallas for single asset transactions and smaller portfolios. Their loans ranged from small loans under $10 million for limited-service hotels to multi-billion dollar financings for major portfolios. Lenders look to HVS Dallas to complete appraisals in a short three- to four-week timeframe, and often utilize appraisal content and findings for credit decisions well in advance of closings. There is virtually no lead time, so HVS Dallas must be able to quickly respond to client requests.

Results
In 2005 we consulted on over 1,000 appraisals; in 2006, we continue to consult on an average of 75 hotels per month. We strive to maintain a three-week completion time frame for our clients, and maintain state certification and licenses in over 40 states, which contributes to our ability to mobilize quickly. HVS Dallas is highly committed to clients' timing needs and works as a team to insure credible, high-quality appraisals are delivered on time. We strive to exceed client expectations and continually improve our service and consulting product.

Boulders Resort, Scottsdale, AZ An asset in Blackstone's purchase of Wyndham assets in 2005, the year's largest portfolio	Sheraton Gunter - San Antonio, TX One of several assets appraised for Merrill Lynch Mortgage Lending in 2005, working in conjunction with Neptune Hospitality Advisors, Inc.