CIM Group Closes $167,670,000 Loan to Affiliates of Concord Hospitality and Whitman Peterson to Recapitalize a 15-Property WoodSpring Suites Extended Stay Hotels Portfolio

LOS ANGELES--(BUSINESS WIRE)--CIM Group announced today that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a loan package totaling $167,670,000 to Concord Hospitality and Whitman Peterson to recapitalize a portfolio of 15 WoodSpring Suites extended stay hotel properties located in Florida, Michigan, North Carolina and Tennessee. This includes the initial funding of $117,670,000 with an additional $50,000,000 available for earn-out opportunities and potential expansion of the hotel portfolio.

WoodSpring Suites is an economy extended stay hotel brand that is known for providing the comforts of home alongside the conveniences of a hotel in an inviting, smartly designed environment. Suites offer in-room kitchens and free Wi-Fi, while guests have 24-hour, seven day a week access to laundry room, vending machines, and a fitness center. WoodSpring Suites offers nightly, weekly and monthly rates.

The loan demonstrates CIM Group’s continuing focus on the hospitality industry which includes select-service and extended stay properties in addition to the full-service sector, a strategy that CIM Group implemented in 2023. The WoodSpring Suites portfolio loan follows a recently closed $75 million loan for a select-service hotel in San Diego. In 2025, CIM-managed funds originated more than $1 billion in commercial real estate loans.

Seyfarth Shaw LLP represented the lender in the transaction.

Through its CIM Real Estate Debt Solutions business, CIM Group applies its broad experience as an owner, operator, and developer of high quality commercial real estate to its lending strategy and believes this helps differentiate the company from many other debt providers. Through mortgage and mezzanine loans, affiliates and managed funds, CIM Group provides bridge and construction financing to owners and developers of commercial real estate in major markets across the United States and works with borrowers to offer an array of lending solutions.

To learn more about CIM Group’s credit strategies, visit www.cimgroup.com/borrow.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. For more information, visit www.cimgroup.com.