Dallas - Success Stories

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

"As a hospitality specific mortgage broker we enjoy working with a group that understands the needs of the lending community and is able to turn around projects in a timely and professional fashion on a regular basis. The staff at HVS is second to none and each individual there exudes professionalism in every assignment we've ever done."

Stan Kozlowski,
Principal,
Forestpark Capital

Project
Transaction activity remains highly active in the hotel industry in 2007, as equity return requirements remain relatively low despite rising interest rates. Lenders, owners, and developers continue to turn to HVS to service their hotel appraisal needs during this busy year, and HVS continues to assist 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 in 2005, while lenders such as Countrywide, UBS, and Hall Financial 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. We appreciate that there is limited lead time in today’s deal environment, so HVS Dallas must be able to quickly respond to client requests.

Results
Together with our sister offices in Atlanta and Mexico City, we consult on over 1,000 assets each year; in 2007, we continue to consult on an average of 100 hotels per month. We strive to maintain a three-week completion time frame for our clients, and maintain state certification and licenses in virtually every state, which contributes to our ability to mobilize quickly. Rod Clough, MAI, Amanda Repert, and HVS Dallas are 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.