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Consulting & Valuation - Dallas - Overview
From Banc of America to Textron Financial - 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 has slowed to a snail's pace in
2008, as the credit crunch and crippled financial sector have severely limited
the ease of executing hotel deals. Nevertheless, lenders, owners, and developers
continue to turn to HVS to service their hotel appraisal needs during this
year of transition.
The HVS Assignment
Lenders such as Banc of America and Chatham
Financial turned to HVS Dallas to appraise their portfolio assignments, while
lenders such as Textron Financial, Principal Real Estate Advisors, and Hall
Financial turned to HVS Dallas for single asset transactions. Their loans
ranged from small loans under $5 million for limited-service hotels to much
larger 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, Boston,
Mexico City, and Washington, we will consult on over 600 assets in 2008, despite
the industry turndown. 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.
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| Magnolia Hotel - Dallas, Texas We appraised this asset for ownership's internal-use purposes. A shorter, restricted use appraisal was provided that proved to be an ideal, cost-effective solution for this client. |
Sheraton Hotel - Frisco, Texas We appraised this asset for Capital One for refinancing purposes. The analysis was complex, involving the consideration of a future expansion of rooms, meeting space, and parking. |
