ATLANTA--(BUSINESS WIRE)--Access Point Financial, Inc., (APF) a direct full-service lending and advisory firm focused on the hospitality industry, today announced a major expansion initiative to service anticipated increased demand for its broad range of hotel financing products.
The growth activity includes adding two hotel lending veterans as senior vice presidents—J.W. Clements and Patrick Feltes. They will be responsible for providing regionalized APF financing products and services and over time develop full processing capabilities supported by additional business development and credit officers. In addition, the company has opened three new offices and plans to double the company’s Atlanta headquarters by midyear.
“Since the launch of Access Point in July of 2011, we have reassembled one of the most active hotel lending platforms serving our historic global brands and client base of proven hoteliers replicating 25 years of proven success,” said Jon S. Wright, president and CEO of Access Point Financial. “With that foundation in place, we’re now well-positioned to prudently manage increases in our projected loan production and our geographic footprint, as well as deliver the local expertise and maintain our focus of being a ‘Nationwide Community Bank for Hoteliers’.”
New Officers to Serve New Lending Sectors
Clements, a 28-year commercial mortgage banking veteran, joins APF as senior vice president, capital markets. He dates his aligned efforts with APF’s predecessor company by nearly 15 years when he was with GMAC Commercial Mortgage. At that time, Clements worked for the predecessor GMAC-ABL group which Wright formed in 1997.
Clements will initiate a major outreach to real estate and mortgage brokers from a new office in Philadelphia. Clements also is charged with establishing a vendor alliance program that provides in house financing for key hotel suppliers. He holds an MBA from the Johnson School of Hospitality at Cornell University and a BS in finance and economics from the University of Delaware.
“Over the course of his career, J.W. has established a vast network of intermediaries involved in the buying and selling of hotels and requisite financial products to facilitate successful execution,” Wright said. “With the addition of J.W., we now can more proactively reach these important segments of the market to educate this broker network of our fundamental product offerings which is exactly what we did during our GMAC days together.”
Patrick Feltes, a career financier, joined APF as senior vice president business development. He will open a new office in Scottsdale, Ariz.
Feltes spent the past 15-plus years with GE Capital Franchise Finance, where he specialized in hospitality financing, rising to senior vice president. He concentrated exclusively on the hotel industry, originating more than $750 million in hotel financing, during his tenure with GE Capital. Previously, Feltes had an extensive background with major banks in Chicago, Ill., and Phoenix, Ariz. He holds an MBA from the Kellogg School at Northwestern University and a BS in economics from the University of Illinois.
“Patrick is also a trusted friend and advisor who offers his clients creative counseling and provides the expertise and insights to navigate the constantly changing world of hotel financing,” Wright said. “He has an impeccable reputation for integrity and brings an extraordinary network of hoteliers and extended depth of borrower direct clientele to our team.”
Wright also noted that Jon Hellbusch, managing director of Access Point Financial capital markets based in the company’s Avenue of Americas New York office, will establish a Midwest-based operation in Minneapolis, Minn.
The company also is executing a lease to double its Atlanta headquarters to 40,000 square feet of prime Atlanta office space to facilitate underwriting and quality control processing.
“As one of the first lenders to actively return to generating customized products to the hotel industry, we were able to reassemble our strong infrastructure which includes senior management with average tenure of 10 years dating back to GMAC and achieve a substantial competitive edge,” Wright noted. “These current strategic initiatives simply mimic historically proven client centric-efforts we have developed over the past 20 years. Our goal is to be viewed as the nationwide community bank for hoteliers. To support that, we are geographically dispersing so that key senior executives are living and working in regions and communities known to them. We continue to add capital to our lending platforms and enhance our product offerings. We remain on target to place $1 billion in hotel loans by 2015.”
About Access Point Financial
Access Point Financial, Inc. (APF) is a direct full-service lending and advisory platform based in Atlanta, Georgia serving branded and independent hotels in the United States and Canada. Access Point Financial was formed by Stone Point Capital, a private equity firm based in Greenwich, Connecticut and the APF Management team. For additional information, please contact 404-382-9599 or visit www.accesspointfinancial.com.