Acquisition of Historic Luxury Resort via Deed in Lieu Transfer Ramsfield acquired the 30 room Lake Placid Lodge, luxury resort which is consistently ranked in the Top 10 Hotels in America, in the spring of 2010. Ramsfield originated a construction loan on the property that was used to rebuild the historic hotel after a fire [...]
Mr. Mandel is responsible for the overall development and operation of Ramsfield Hospitality Finance. He has a specific focus on new deal origination and capital formation. Richard founded Ramsfield Hospitality Finance as a joint venture with CarVal Investors (f.k.a.-Cargill Value Investment). Prior to the founding of Ramsfield, Richard was Director and Founder of Kennedy-Wilson Japan. [...]
Asset Management Assignment of a 286-Room Hotel Ramsfield was hired in November 2008 by an institutional hotel owner to oversee a 300-room, full service hotel in Hilo, Hawaii that was coming off a record year of performance, however, entering into an economically challenging environment. Our client requested that we attempt to maintain the bottom-line performance [...]
Asset Management of a Five Star Hotel with 66 Rooms and 31 For-Sale Residences Ramsfield was hired in January 2011 to act as the exclusive representative of the owner on this recently opened, luxury resort in Cabo San Lucas, Mexico. Capella Pedregal, the premier spa resort in Cabo San Lucas, sits on the southernmost tip [...]
Ms. Wickstrom oversees Ramsfield’s asset management of third-party and proprietary investments, working with the hotel’s management staff, management company and third-party service providers to effect operational decisions that increase the value of hospitality investments and reduce risk. She also is responsible for new transaction sourcing and underwriting. Additionally, she supports the senior Management team in the day-to-day [...]
$12,850,000 First Mortgage Loan Ramsfield originated a Senior Mortgage for the acquisition of the Radisson Denver Southeast by Malaga LLC. The loan exceeded the hotel’s purchase price and represented approximately 87% of the borrower’s total investment basis. Because of Ramsfield’s quick turnaround time in underwriting the deal, in addition to the loan’s high LTC percentage, [...]
$24,800,000 First Mortgage Loan Ramsfield originated a $24.8 million first mortgage loan for the purchase of the 160 room SeaCrest Oceanfront Hotel in Pismo Beach, CA. Despite the low in-place cash flows, Ramsfield saw the inherent value in the seven-plus acre ocean front property, one of the only properties in Pismo with direct access to [...]
Mr. Mullaney is a Managing Director for CarVal Investors and is responsible for equity and structured finance of commercial real estate assets in North America. As a partner with RHF, he is intimately involved in all aspects of the business, specifically, reviewing underwriting and assisting in the structuring of loans. Prior to joining CarVal Investors, Mr. [...]
$4,500,000 Mezzanine Loan Ramsfield originated a $4.5 million 5-year fixed rate mezzanine loan on the Magnolia Hotel. The hotel is owned by the Denver based Steven Holtze Group. The loan proceeds went towards paying off an existing loan, updating parts of the property as well as adding a new 6,000 square foot ballroom. In underwriting [...]
Purchase and renovation of a 125-Room Hotel Ramsfield purchased this budget Waikiki hotel, in February of 2008. Because the Hotel was encumbered by a complicated ground lease and seven long term residential leases that expired in 2010, Ramsfield saw an opportunity to purchase the leasehold interest significantly below its market value from an absentee Japan-based [...]