is driftwood capital legit
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. scusiamo se questo pu causarti degli inconvenienti. 526 Brevard Avenue, Cocoa, Florida 32922, United States. It shows us what kind of community partner they really are. in Business Administration the State University of New York (SUNY) Albany, and an MBA with an emphasis in finance and accounting from New York Universitys Leonard N. Stern School of Business. He has lived in the Aurora/Southeast Denver Metro area since 1965 and is an expert Getting ready for a yard project? message, contactez-nous l'adresse Please help us protect Glassdoor by verifying that you're a Opinions expressed by Forbes Contributors are their own. Si continas recibiendo este mensaje, infrmanos del problema If you continue to see this 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. Relative to 2019, several hotels in Driftwood's portfolio are exceeding pre-pandemic performance, including the Hampton Daytona Beach/Beachfront, the DoubleTree by Hilton Historic District in St. Augustine, Hilton Dallas/Rockwall Lakefront and Margaritaville Lake Resort Lake of the Ozarks. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. AboutPressCopyrightContact. The Westin brand is owned by Marriott International and requires a franchise hotel to have a certain amount of meeting space. For more information, visit www.driftwoodcapital.com. "That was not an easy task to start ramping [up] during the pandemic," he said. Conservative position in the capital stack. He is a native of Costa Rica and holds a B.S. It is my contention that Driftwood wants the county to pay for the meeting space required by the Westin brand. Internet Explorer presents a security risk. Since the Funds launch in late 2020, DLP has closed on more than $420 million of financings for high-quality hotels and sponsors across the country. verdade. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de in Government and English and earned his J.D. This firm has 2 employees, of which 2 are employees in advisory roles. All information provided on this website is provided without warranty and for informational purposes only. Second, we want to ensure we have a long runway ahead of us for future capital deployments, explained Chairman & CEO Carlos J. Rodriguez, Sr. In addition, with the launch of our lending platform, we now have the ability to fulfill a growing niche for small to midsize loans in the hotel space., Our real estate asset syndication model has proven very successful and popular with investors. First, we want to continue to meet the growing demand in the marketplace for alternative investments. We are also expanding our strategic partnerships with others in the market wherever we find synergies. Glenn holds a B.S. *Includes hotels of Driftwood Capital and controlled subsidiaries. per informarci del problema. verdade. Unfortunately, every day there are Investment brokers looking to scam unsuspecting victims. 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. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Get in touch with our agents today! As Chief Financial Officer, Glenn Wasserman oversees corporate financial strategy and all financial operations including accounting and financial reporting. He said Driftwood Capital will also be issuing loans in the $3 million to $50 million range through its mezzanine lending division. las molestias. Direct ownership in assets with value add opportunities. Alejandro enjoys cycling and hiking, and in a previous life, produced more than 100 music videos for the likes of such international stars as Ricky Martin, Shakira and Daddy Yankee. Driftwood Capital is targeting development and acquisition deals across the country in the $30 million to $150 million range, though as evidenced by the companys planned $250 million, 502-key oceanfront Westin Resort in Cocoa Beach, Fla., they have the capacity to take on larger projects. Driftwood Capital is one of the countrys leading hospitality sponsors. We source, underwrite and close deals with our own capital, assuming the upfront work and the risk. Amenities include a heated, outdoor pool and year-round, outdoor hot tubs; a community room; fire pit and grill areas; as well as an outdoor recreation area. 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. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. All the properties are managed by company affiliate Driftwood Hospitality. We are guided by principles that inform not just our investment decisions, but all business interactions. "They want to use their expertise as asset owners and entrepreneurs to really affect change in the companies that they are investing in," she added. 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. It should be fully vetted by the Tourist Development Council. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. I guess we are to be impressed with a proposed $300 million-plus project. Additionally, Driftwood Capital has strengthened its management team to help position it as a leader in the marketplace, and recently hired David Steiner as Managing Director of Capital Markets, Nelson Parker as Managing Director of Development, and Paul Sacco as Chief Investment Officer. 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 a TX Limited Liability Company. 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. Se continui a visualizzare Prior to Servico, David served as Vice President of Operations for Prime Hospitality. Driftwood Capital Click to Rate or Add Salary Add Interview Add Benefits Glassdoor has 2 Driftwood Capital reviews submitted anonymously by Driftwood Capital employees. Prior to joining Driftwood Capital, she worked in the same capacity at Kayne Anderson Real Estate in Boca Raton, FL. Since then, Driftwood Capital has funded $50 million in loans across five hotels Hyatt Place Noma, two Cambria hotels in California, Home2 Suites Charlotte and Shashi Hotel Mountain View totaling 805 rooms. During this time, he managed more than $300 million in real estate investment transactions. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. "It's about buying right in the right locations and having conviction over the long term that you can manage through [challenges]," he said. Our model combines private equity sponsor knowledge with access to unique investments with the potential to generate high returns. But that is simply not how it works. naar Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. In total, there are 2,750 billionaires around the world that in total control $13 trillion, up from $8 trillion in 2020, she said. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. He graduated Georgetown University with a B.A. We love our customers, so feel free to visit during normal business hours. 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. Wir entschuldigen uns fr die Umstnde. 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. Si vous continuez voir ce Primetexcapital.ltd Scam Reviews and Complaints Primetexcapital.ltd has gotten many negative reviews and traders who traded with this broker have raised many complaints against it. I have been vocal in raising concerns about the idea and would like to address Mr. Rodriguezs pitch point-by-point. Open today. excuses voor het ongemak. Neither Driftwood nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current, or complete. It is a TX Limited Liability Company. Lamentamos pelo inconveniente. Overview 63 Reviews 14 Jobs 71 Salaries 9 Interviews 15 Benefits -- Photos 22 Diversity + Add a Review Driftwood Hospitality Management Reviews Updated Mar 5, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 63 of over 63 reviews Sort Popular Popular COVID-19 Related So do I and so do several other local hospitality companies. He also holds a certificate in Commercial Real Estate Analysis & Investment from the Massachusetts Institute of Technology (MIT) School of Architecture & Planning. The sponsor 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. Driftwood contributed a $24.3 million mezzanine loan through its lending fund, Driftwood Lending Partners, LP (DLP), behind a $114.4 million senior financing package originated by a major life insurance company. So do I and so do several other local hospitality companies. Weve created a hospitality ecosystem to help make smart investments secured by sponsor capital. 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. Aydanos a proteger Glassdoor y demustranos que eres una persona real. Without a public subsidy, the free market will ultimately determine the best use of that property. In August of 2018, Fall River Village introduced Skyview Wedding and Event Center, a 10,000-square-foot event venue. Onze Aydanos a proteger Glassdoor y demustranos que eres una persona real. Situated on 68 acres, the property features 14 buildings withfour lodging options comprising 192 guest rooms and 31 condominium units. 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. Finally, our experience in the hospitality sector is paramount to our collective success. The best home improvement jobs deserve the best materials. Rockbridge has acquired the 331-room Island Resort in Fort Walton Beach, FL, located on 11 acres of real estate with 600 ft. of private beach. I learned long ago that if a threat is used in negotiations, walk away from the idea. Ci 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. Then, we invite accredited investors to join us, coming into the deal at our basis. When he gets a free moment, he enjoys tennis, golf, fly fishing, boating and cooking. "We are now finally seeing tailwinds in the industry for recovery," in a macro-economic sense, he said. Driftwood Capital officially submitted its plans, back in late 2020, to the city planning board for its redevelopment of the International Palms Resort and Conference Center into a new 502-key . Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. Avoid Fraud, Get The Facts, And Find The Best. 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. 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. The common theme across these hotels is that they are in growing markets, with value creation capabilities and barriers to entry. 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. Onze Use the CB Insights Platform to explore Driftwood Capital's full profile. "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. om ons te informeren over dit probleem. I trade with Capital.com for over 4 years now and overall they are the best in UK for the moment. We are sorry for the inconvenience. InvestingReview.org does not provide investment advice. The Investment Blacklist. 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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. At the time Driftwood Hospitality Management was a national hotel platform founded by Lehman Brothers and David Buddemeyer. He expects the hotels will be cash-flow positive in 2022. 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. Born in Kansas, John grew up in Indiana and earned a B.S. Driftwood Capital, a real estate firm focused on hospitality investments, raised $250 million in GP capital for development, acquisitions and lending. It is my opinion that the cost is grossly overstated for a 500-room Westin hotel. All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. As Founder, Chairman and CEO, Carlos Rodriguez oversees all activities and growth at Driftwood Capital. 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. Si continas recibiendo este mensaje, infrmanos del problema "We've seen during the pandemic how global wealth has actually soared. We then bring our extensive experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality. East Coast Office. In December 1998, Servico merged with another hotel company, bringing the organizations portfolio to 180 hotels and more than 30,000 rooms. 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. We are guided by principles that inform not just our investment decisions, but all business interactions. Driftwood Capital LLC is legally known as DRIFTWOOD CAPITAL, LLC. Wenn All economic and performance data is historical and must be considered in conjunction with applicable disclosures. As Chief Commercial Officer, Alejandro Navia is responsible for marketing and sales strategies for the firms investment products, including creating Driftwoods EB-5 Program. The only downside I saw was 2 new hotels opening in Southlake this year, although their locations aren't that great. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Other Info. The number of clients served by it is unknown. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de Fred Smith knows real estate. Jorge serves as Chief Compliance Officer for Driftwood Advisors, LLC, a Registered Investment Adviser with the United States Securities and Exchanges Commission. 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. Caroline lives in Boca Raton with her husband and children, and enjoys tennis, cooking, travel and reading. To finance its development and lending strategy, Driftwood Capital is setting up new GP funds through the companys initial investors as well as longstanding LP investors, strategic capital partners, and other JV partners. 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 are excited to welcome new accredited investors daily and to deliver compelling opportunities to join us in the investments you choose. Se continui a visualizzare He said the Daytona hotel was referred to as "the dog" of the portfolio but over time showed its value. envie um e-mail para However, I dont believe that is a sustainable option as the property ages and degrades. DealDirect. Many people have been burned by frauds and Ponzi schemes. When not attending their various sporting events, he can be found playing tennis and golf. Before launching Driftwood, David served as Chairman and CEO of Servico Hotels and Resorts, a NYSE hotel company. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close . Disculpa ATLANTA, GA - Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired The. 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. Then, we invite accredited investors to join us, coming into the deal at our basis. Driftwood provides . This website (this Website) is owned and operated by Driftwood Capital LLC (Driftwood). A vertically integrated team oversees all aspects of the investment and ownership process, seeking to provide a total alignment of interests with investors. 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. Aydanos a proteger Glassdoor verificando que eres una persona real. 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. Our goal is to create long-term partnerships with our investors through successful transactions while targeting outsized returns. With these new funds, we will invest in a broader range of hospitality opportunities with longer time horizons to syndicate LP capital, ensuring greater volume, diversity, and security for our investor network, added President & COO Carlos Rodriguez, Jr. We are actively engaged in expanding our network of investors. Finally, our experience in the hospitality sector is paramount to our collective success. He works with leadership on new strategies, fund structuring and fund operations, and spearheaded the launch of Driftwood Capitals Opportunity Zone program. Si continas viendo este mensaje, Our dedicated team is here to answer all your questions and make the investing process effortless. Brevard commissioners reject funding convention center study, with three of five opposed, Your California Privacy Rights/Privacy Policy. . Additionally, 82% of those surveyed indicated that they plan to increase their allocations to real estate this year. Unique capital formation strategies (EB5, Opportunity Zone). 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. 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. T: 305-663-3543. We execute the entire transaction upfront using our own capital and then give you access on a deal-by-deal basis. He was previously head of Asset Management for Stonebridge Companies and Woodbine Development, as well as Asset Manager for Maritz Wolff and Director of Finance for Marriott International. A native of Coral Gables, FL, Jorge and his wife reside there with their two sons both born during the pandemic! message, please email Each of these loans represent a strong loan-to-value ratio, premier sponsorships and solid loan structures that aren't too over-leveraged. "It's during challenging times that you could unlock value, and it's about staying power in this industry.". The number of clients served by it is unknown. He was previously a Director in Cantor Fitzgeralds Commercial Real Estate Finance group and has closed more than $5 billion of transactions during his career. The principals. The proceeds will cover the refinancing of the historic Stanley Hotel, along with the acquisition of the nearby Fall River Village Resort, an 89-room lodge. Investors in the new GP Funds consist of DADs initial investors as well as longstanding LP investors, strategic capital partners, and other JV partners. He has successfully facilitated the financial turnaround and growth of several multi-dimensional hotel companies. 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. All economic and performance data is historical and must be considered in conjunction with applicable disclosures. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie The common . 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. scusiamo se questo pu causarti degli inconvenienti. Driftwood Capital is a privately held real estate firm specializing in the acquisition, development, lending and investment syndication of institutional-quality hotels. Nous sommes dsols pour la gne occasionne. Prior to joining Driftwood in 2018, Jorge practiced law at Greenberg Traurig, LLP, where he represented clients in private equity fund formations, complex joint ventures, and cross-border mergers and acquisitions. questo messaggio, invia un'email all'indirizzo Plus I think Driftwood Capital is a legit player in the hospitality space. 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. As professionals well versed in acquisitions, development and lending, we source, underwrite, structure and close investments across diverse markets and asset types, from name brands to boutique properties. Driftwood Capital is an innovative investment business built on the solid foundation of a most trusted name in hospitality. los inconvenientes que esto te pueda causar. 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. ein Mensch und keine Maschine sind. For more information, visit www.driftwoodcapital.com. The principals of Driftwood Capital boast a 30+ year . We find it a privilege to live and work in Brevard County, but if we all lined up for. She said 73% of the family offices who invest in real estate are doing it for yield, diversification and returns. Company raises three new GP fund vehicles: Development, Acquisitions & Mezzanine Lending. Any business would love to use the sales and property taxes it generates for its own purpose. Driftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality. He also provides strategic recommendations to the Chairman & CEO, President & COO and members of the executive team. Wir entschuldigen uns fr die Umstnde. Married to Meredith for 25 years, Glenn is a proud dad to Logan, Cooper and Tanner. The proceeds . Caso continue recebendo esta mensagem, 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. As Managing Director of Capital Markets, David oversees all mezzanine and preferred equity investments for the Lending strategy. The property has over 25,000 square feet of meeting and event space, multiple food and beverage venues, a spa, and a 550-person concert venue, The Stanley Live. 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. Click here to read: Hotel Investment Firm Gears up For 'Tsunami of Deals', CA: Ne pas vendre mes renseignements personnels, Prfrences en matire de fichiers tmoins, Gestionnaire des biens immobiliers CoStar. *Includes hotels of Driftwood Capital and controlled subsidiaries. Combining the two properties under single ownership will provide operational synergies at both hotels and further enhance the credit of Driftwoods position, said David Steiner, Driftwood Capitals Managing Director of Capital Markets. message, contactez-nous l'adresse The principals of Driftwood Capital boast a 30+. The public loses the multiplied benefits of these tax dollars. He is the recipient of numerous industry awards such as Entrepreneur of the year for the Doral Chamber of Commerce, the National Excellence in Construction award from the Associated Builders and Contractors Inc., the Lifetime Achievement Award from Hilton, Hotelier of the Year for the Latin Hotel Owners Association, Developer of the Year for various hotel brands, among many other recognitions that he has received throughout his life. Global wealth was up 8.3% to $250 trillion," she said, noting billionaires are structurally changing the way investment is happening. He earned a B.A. 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. Individuals are urged to consult with their own professional advisers before making any investment decision. 09:00 am - 05:00 pm. Give me $60 million and I will gladly provide free meeting space and spend less than one percent on marketing my hotel.
is driftwood capital legit