InvestingReview.org does not provide investment advice. "It's during challenging times that you could unlock value, and it's about staying power in this industry.". T: 305-663-3543. Si continas viendo este mensaje, to let us know you're having trouble. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. A Coral Gables hotel development and financing company is aggressively scaling up its acquisitions and construction strategy. The proceeds cover the refinancing of the historic Stanley Campus, which has four lodging options comprising 192 guestrooms and 31 condo units, along with the acquisition of the nearby Fall River Village Resort, an 89-key upscale lodge. Since launching in 2015, Driftwood Acquisitions & Development 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 that includes the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks, as well as the soon-to-open developments Canopy by Hilton West Palm Beach & Tempe and the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale. We execute the entire transaction upfront using our own capital and then give you access on a deal-by-deal basis. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Driftwood Capital is targeting development and acquisition deals across the country in the $30 million to $150 million range, though as evidenced by the company's planned $250 million, 502-key . David Buddemeyer, Principal and President of Driftwood Hospitality Management, LLC and a senior officer of Driftwood Capital, is a hospitality veteran who has successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies.Before launching Driftwood, Mr. Buddemeyer served as Chairman and CEO of Servico Hotels and Resorts, a NYSE hotel company. If they decide to continue to operate the International Palms, then so be it. Carlos is the founder and former Chairman and CEO of Cardel Hotels, which merged with Driftwood Hospitality Management in 2003. It should be a level playing field. questo messaggio, invia un'email all'indirizzo Prior to joining Driftwood Capital, she worked in the same capacity at Kayne Anderson Real Estate in Boca Raton, FL. Aydanos a proteger Glassdoor verificando que eres una persona real. Investment Adviser Firm Summary DRIFTWOOD CAPITAL, LLC ( CRD # 299088/SEC#:801-114262 ) DRIFTWOOD CAPITAL, LLC View latest Form ADV filed The investment adviser you have selected is NOT currently registered and is NOT filing reports with the SEC or any state. 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. . Unique capital formation strategies (EB5, Opportunity Zone). In 2020, Driftwood Capital announced it intended to raise $100 million from investors to source mezzanine loans and preferred equity transactions to help owners and lenders who were struggling through the pandemic. When not attending their various sporting events, he can be found playing tennis and golf. Since 2015, the principals of Driftwood Capital have transacted on more than $1.5 billion in hospitality assets backed by capital from an investor network of family offices, high-net-worth individuals and others. He continued, Adding two hotels to DLPs portfolio that were resilient during the pandemic and are poised for future growth was a great way to round out 2021.. Finally, our experience in the hospitality sector is paramount to our collective success. In December 1998, Servico merged with another hotel company, bringing the organizations portfolio to 180 hotels and more than 30,000 rooms. Driftwood Capitals affiliate management company (DHM), a long-standing industry leader, is brought in to operate the hotels. The common . Second, we want to ensure we have a long runway ahead of us for future capital deployments.. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Our model combines private equity sponsor knowledge and access to unique investments with the potential to generate high returns. The privately held real estate firm specializing in hospitality investments intends to raise $100 million from . 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. 39 were here. Originally build in 1902 and most recently updated in 2018, the Stanley Hotel is located at 333 E. Wonderview Ave. We are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. 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. The decision to scale up our existing acquisitions and development activities and launch a new lending business was driven by two main factors, Rodriguez Sr. said. Despite challenges from the pandemic, Driftwood Capital continues to add new hotels to its portfolio, such as with the Canopy by Hilton Tempe Downtown, Canopy by Hilton West Palm Beach Downtown and Home2 Suites by Hilton Ft. Lauderdale Downtown. Fast forward to 2021, and DAD, now called Driftwood Capital, has raised more than $700 million from roughly 800 high-income individuals worldwide - about half from Latin America. "It's been a labor of love getting all the entitlements and getting all the zoning requirements met. The selection changes often, but if you love good Buying or selling a home is the largest financial investment most people ever make. scusiamo se questo pu causarti degli inconvenienti. 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. Born in Kansas, John grew up in Indiana and earned a B.S. Thats why its so important to That great looking new building in Wiggins? I would like to see crypto as well in future (before was it but now I don't have anymore). para informarnos de que tienes problemas. Driftwood Hospitality Management Is this your company? in Government and English and earned his J.D. As Founder and President of Driftwood Hospitality Management, David Buddemeyer oversees all operations and management of more than 80 hotels. "That was not an easy task to start ramping [up] during the pandemic," he said. According to the Phoenix Business Journal, citing Maricopa County records, Driftwood bought the 16-acre resort for $113 million from an entity of Hong Kong-based Junson Capital. ESTES PARK, COLO. Driftwood Capital has arranged a $138.7 million financing package for two resort hotels in Estes Park on behalf of Grand Heritage Hotel Group. Midwest Multifamily & Affordable Housing Business, Northeast Multifamily & Affordable Housing Business, Southeast Multifamily & Affordable Housing Business, Texas Multifamily & Affordable Housing Business, Western Multifamily & Affordable Housing Business. Driftwood does not represent that any opinion or projection will be realized. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close . Mr. Rodriguezs veiled threat to continue to operate the sub-standard International Palms does not sit well with me. Wir entschuldigen uns fr die Umstnde. He is a graduate of Florida International University with degrees in Business Administration and International Business and holds a real estate brokers license in the State of Florida. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. The best home improvement jobs deserve the best materials. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Tony Figueroa, afigueroa@krepspr.com East Coast Office. 603 MUNGER AVENUE, #100-205, DALLAS, TX . para nos informar sobre o problema. 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 is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie January 20, 2022. He earned a B.A. To encompass all new funds, the management team behind Driftwood Acquisitions & Development (DAD) has rebranded as Driftwood Capital. *Includes hotels of Driftwood Capital and controlled subsidiaries. enva un correo electrnico a verdade. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. We are guided by principles that inform not just our investment decisions, but all business interactions. las molestias. PARTNER & CHIEF COMPLIANCE OFFICER owns 75% or more, PARTNER owns more than 10% but less than 25%. Caso continue recebendo esta mensagem, Fixed-income benefits with low correlation to asset performance. Disculpa Aydanos a proteger Glassdoor y demustranos que eres una persona real. 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. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. "We are now finally seeing tailwinds in the industry for recovery," in a macro-economic sense, he said. Our dedicated team is here to answer all your questions and make the investing process effortless. Wir entschuldigen uns fr die Umstnde. It is not found money; it is called the cost of doing business and paying your fair share. She is a graduate of Boston Universitys College of Communications, where she earned a B.S. Caso continue recebendo esta mensagem, Contact Us. Built in 2000 and renovated in 2018, Fall River Village Resort is located at 200 Filbey Court. No one business should be exempt;none treated differently. As Founder, President and COO, Carlos Rodriguez Jr. is responsible for the day-to-day operations of the company and oversees new product development as well as investment strategy. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. He said the lending platform gives Driftwood Capital the ability to fulfill a growing niche for small-to-midsize loans in the hotel space. InvestingReview.org is not an investment adviser and is not endorsed by or affiliated with any U.S. or non-U.S. regulatory agency. Open today. This firm has 2 employees, of which 2 are employees in advisory roles. Please help us protect Glassdoor by verifying that you're a We are also expanding our strategic partnerships with others in the market wherever we find synergies. In-house experts in sourcing, underwriting, financing, asset management, operations, development and legal help to ensure the entire deal cycle lives within our purview. Brown Advisory Investment Solutions Group LLC. I trade with Capital.com for over 4 years now and overall they are the best in UK for the moment. 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. Carlos Rodriguez Sr., founder chairman and CEO of Driftwood Capital, said his company has four hotel development deals now totaling 916 rooms with $488 million in development cost. The information contained herein reflects the opinions and projections of Driftwood as of the date hereof, which are subject to change without notice at any time. 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. More: Brevard commissioners reject funding convention center study, with three of five opposed. Conservative position in the capital stack. Si continas viendo este mensaje, Our dedicated team is here to answer all your questions and make the investing process effortless. Under Davids leadership, the company grew from 28 hotels to 140 hotels and from $42M to $650M in sales, with EBITDA growing at a compound annual rate of 41%, from $16M to $280M. Contact: Melinda Sherwood msherwood@krepspr.com / Subscribe to the one-and-only Hotel-Online! He has lived in the Aurora/Southeast Denver Metro area since 1965 and is an expert Getting ready for a yard project? Yes, Driftwood has several hotels in the area. What Mr. Rodriguez is proposing is a private project using public dollars. para nos informar sobre o problema. "To achieve that [internal rate of return], even without the cash flow that we had the [past] couple of years, is attractive," he added. excuses voor het ongemak. Bob Baugher is president /owner of the Radisson Resort at the Port; Cocoa Beach Surf Company; Cocoa Beach Suites Hotel and equity partner in the SpringHill Suites Cape Canaveral and TownePlace Suites Cape Canaveral, currently under construction. David earned a B.A. But that is simply not how it works. Brevard commissioners reject funding convention center study, with three of five opposed, Your California Privacy Rights/Privacy Policy. los inconvenientes que esto te pueda causar. 972-818-5094. 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. questo messaggio, invia un'email all'indirizzo In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. He previously served as Vice President of Development for Driftwood Hospitality Management, where he oversaw ground-up construction for the company, while implementing a successful EB-5 financing program. from Purdue University and an MBA from Dukes Fuqua School of Business. MV Real Estate Holdings brought on its partner, Coral Gables-based Driftwood Capital to develop the 1.5-acre Miami River property at 114 Southwest North River Drive. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Driftwood Capital LLC. Israel Kreps, ikreps@krepspr.com If the Brevard County Commission wants to give this idea serious consideration, its time for a full public vetting of the project with a clear understanding of the real costs, terms and conditions. The firm's last reported SEC (U.S. Securities and Exchange Commission) status is listed as Direct ownership in assets with value add opportunities. Disculpa It is a TX Limited Liability Company. message, contactez-nous l'adresse Then, we invite accredited investors to join us, coming into the deal at our basis. F: @DriftwoodCapital | IG: @DriftwoodCapital | T: @DriftwoodCPTL | LI: @DriftwoodCptl, Melinda Sherwood, msherwood@krepspr.com Onze Ultimately, how this investment plays out will be dependent on the impact of additional competition, and if and when the business traveler comes back. We've created a hospitality ecosystem to help make smart investments secured by sponsor capital. Driftwood Capital has purchased the Scottsdale (Ariz.) Resort at McCormick Ranch, a 326-room property in the McCormick Ranch neighborhood. The common theme between these properties is they are in Sun Belt, resort-oriented destinations. 09:00 am - 05:00 pm. 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 Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. 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. 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. an. per informarci del problema. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de Before launching Driftwood, David served as Chairman and CEO of Servico Hotels and Resorts, a NYSE hotel company. We believe our process optimizes the alignment between sponsor and accredited investor, seeking to maximize returns and minimize risk. per informarci del problema. The proceeds . 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. The Fund focuses on providing mezzanine loans and preferred equity for existing hospitality assets, as well as ground up hotel development projects in the United States. If you continue to see this Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. 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. "The other big wave that drove real estate investing this past year is opportunity zones," she added. Internet Explorer presents a security risk. The public loses the multiplied benefits of these tax dollars. Copyright 2019 by InvestingReview.org / All Rights Reserved. Though Driftwood Capital is always on his mind, Carlos unwinds by riding his bike, playing tennis, playing cards, watching football, reading, going to movies, hiking, traveling, and last but certainly not least - playing with his grandchildren. 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. "Believe it or not, that's been the theme of 2021; despite not having cash flow, people are coming around to finding and hunting for yields," he said. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capital's portfolio of hotels. envie um e-mail para It shows us what kind of community partner they really are. He expects the hotels will be cash-flow positive in 2022. Capital is an easy platform to use, amazing customer support, quite ok spreads and overnight fees and the app is quite easy. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. 526 Brevard Avenue, Cocoa, Florida 32922, United States. enviando un correo electrnico a Lamentamos MintonBlock has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of . Last weeks guest opinionby Driftwood Capital CEO Carlos Rodriguez Sr. can only mean one thing: Mr. Rodriguez still thinks he can get his hands into the pockets of Brevard County to the tune of $60 million. We are sorry for the inconvenience. He also leads debt sourcing for the firms acquisitions and development businesses. Driftwood Capital also has been active with dispositions. The Westin brand is owned by Marriott International and requires a franchise hotel to have a certain amount of meeting space. We are also expanding our strategic partnerships with others in the market wherever we find synergies.. He works with his team to maximize asset value through improved hotel operations, strategic capital investments, debt restructuring, and potential repositioning opportunities. The table below is a blacklist consisting of Investment brokers who have scammed those who made complaints on Broker Complaint Registry. Individuals are urged to consult with their own professional advisers before making any investment decision. A vertically integrated commercial real estate investment, development, and lending platform Driftwood Capital | Coral Gables FL Some of the companys hotel properties include the dual-branded Tru by Hilton/Home2 Suites by Hilton in Fort Lauderdale, the Marriott Mission Valley San Diego, the Sheraton Park City, and the Margaritaville Lake of the Ozarks. Past performance is not a guarantee of future results. Company raises three new GP fund vehicles: Development, Acquisitions & Mezzanine Lending. Ci Investors in the new GP Funds consist of DADs initial investors as well as longstanding LP investors, strategic capital partners, and other JV partners. Driftwoods 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. Married to Meredith for 25 years, Glenn is a proud dad to Logan, Cooper and Tanner. Yes, Driftwood has several hotels in the area. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. It is a TX Limited Liability Company. Many people have been burned by frauds and Ponzi schemes. message, please email Driftwood should move forward with a project that justifies its own private investment. As far as shedding light on the project, that is exactly what has not happened in the 10 months since the idea was presented. We believe our proprietary solution helps to reduce risk in the investment process. He is licensed to practice law in Florida. "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail scusiamo se questo pu causarti degli inconvenienti. Ground-up development from site identification through to opening. naar message, contactez-nous l'adresse Driftwood Capital is a boutique investment platform for accredited investors to access institutional quality, income producing, hotel assets in the United States. Our relationship orientation is the basis for every counter-party with whom we transact. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. Carlos has been in the hospitality business for over 35 years where he has operated, acquired, developed, and made loans to various hotels all over the United States. las molestias. He is a native of Costa Rica and holds a B.S. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. She said 73% of the family offices who invest in real estate are doing it for yield, diversification and returns. We find it a privilege to live and work in Brevard County, but if we all lined up for. Its the new home of High Plains Bank in Wiggins. Prior to joining Driftwood, Alejandro worked as a real estate investment advisor to family offices, local banks and high-net-worth individuals. Prior to Servico, David served as Vice President of Operations for Prime Hospitality. We find it a privilege to live and work in Brevard County, but if we all lined up for $60 million the Countys TDC would quickly run out of money. All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. He lives with his wife Lauren, son Chase and dog Addy. However, I dont believe that is a sustainable option as the property ages and degrades. Nous sommes dsols pour la gne occasionne. Rockbridge acquired the property from the original . 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. "We're being very picky as to where we go for new development," he said. Driftwood Capital (Driftwood), a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, has closed a $138.7 million financing package for two resort hotels located in Estes Park, Colorado on behalf of the sponsor Grand Heritage Hotel Group. As Chief Legal Officer & General Counsel, Jorge L. Gomez-Moller leads Driftwood Capitals legal team and outside counsel in new acquisitions, developments, lending and dispositions, as well as asset-level legal issues. France Publications, dba France Media Inc. 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. Aydanos a proteger Glassdoor y demustranos que eres una persona real. to let us know you're having trouble. REGISTRATION STATUS NOTICE FILINGS 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. 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. He enjoys swimming, waterskiing and hanging out at dog parks with his dog. pour nous faire part du problme. This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). Driftwood Capital is one of the countrys leading hospitality sponsors. Additionally, 82% of those surveyed indicated that they plan to increase their allocations to real estate this year. ein Mensch und keine Maschine sind. 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. He also provides strategic recommendations to the Chairman & CEO, President & COO and members of the executive team. Ground-up development, a 130-room suite-style beachfront hotel in Melbourne on Floridas Space Coast. He graduated Georgetown University with a B.A. During his eight-year tenure as the companys Executive Vice President, which began in 1990, he was responsible for all facets of Servicos operations. Lamentamos pelo inconveniente. Situated on 68 acres, the property features 14 buildings withfour lodging options comprising 192 guest rooms and 31 condominium units. in communication. pour nous faire part du problme. Driftwood Capital is attempting to fill that gap with a new Mezzanine Lending Fund. Past performance is not a guarantee of future results. Other Info. 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. los inconvenientes que esto te pueda causar. So do I and so do several other local hospitality companies. Superior Risk-Adjusted Returns in Hospitality, Directly from one of the countrys leading hospitality sponsors, San Diego Marriott Mission Valley - San Diego, CA. . Then, we invite accredited investors to join us, coming into the deal at our basis. As Managing Director of Asset Management, John Davis has direct oversight of Driftwood Capitals portfolio of hotels. real person. Individuals are urged to consult with their own professional advisers before making any investment decision. enviando un correo electrnico a We will consider joint ventures with other experienced investment groups/developers across the country.. 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. Unfortunately, every day there are Investment brokers looking to scam unsuspecting victims.
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