Berkadia Hotels & Hospitality Expands Footprint in California | Hotel Business
LOS ANGELES, CA – July 12, 2018 – Berkadia’s Hotels and Hospitality group announced today it is expanding its physical footprint into Southern California. Senior Director Matthew Bailly, along with a team of analysts, will head the Hotel team’s West Coast presence in Berkadia’s existing Los Angeles office.
“We’re thrilled to officially establish Berkadia’s Hotels & Hospitality team on the West Coast,” said Andrew Coleman, Head of Hotels & Hospitality group. “While we’ve always had a strong national presence, we realized that to continue to provide clients with the exceptional support and service that defines our team, we needed to have permanent boots on the ground. With Matt as the lead, and support from not only our Hotels & Hospitality mortgage banking team in Phoenix but also Berkadia’s robust resources across the West Coast, we’re well positioned to generate exciting new opportunities for our clients.”
California has seen sustained growth in the hospitality market. According to MGAC Research, together with Florida, California was responsible for a third of all recorded hotel transactions in 2017. The state was home to four of the ten most expensive hotel transactions for 2017 based on price per key, including the top two: Sunset Tower Hotel and Hotel Yountville. This momentum is expected to continue through 2018.
“California is certainly a growth engine in the hospitality market,” said Bailly. “But we’re seeing increased activity across the West Coast, from San Diego up I-5 to Seattle and every major metro in-between, as well as in the Mountain West market, particularly Denver, Boise and Salt Lake City. Sustained regional growth, strong development and favorable cap rates make these markets incredibly attractive to investors, but also very competitive. Our increased presence in the region will enable us to help clients identify and capitalize on truly valuable opportunities.”
Bailly has more than 12 years of experience in the hotels market and has worked on over $1 billion of hotel transactions. He’s worked across an array of brands including Hilton, Hyatt, InterContinental Hotel Group, Marriott, and Starwood and has been a leader in developing Western market opportunities for Berkadia’s hotel clients. Notable transactions include the sales of the Hyatt Centric Arlington, the Westin National Harbor and the Courtyard Missoula.
With offices in El Segundo, Irvine, Los Angeles, Murrieta, San Clemente, San Diego, San Francisco, Pasadena and Woodland Hills, Bailly will be joining more than 50 Berkadia real estate professionals in California alone. The Hotels & Hospitality group anticipates adding additional resources in the coming months.
Berkadia’s Hotels & Hospitality group combines the best in industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support, to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services. In 2017, the team completed more than 30 transactions from Washington, DC to Palo Alto, CA.