Core Insights - CIM Group has finalized a loan of $167.67 million to affiliates of Concord Hospitality and Whitman Peterson to recapitalize a portfolio of 15 WoodSpring Suites extended-stay hotels across multiple states [1][2] - The loan includes an initial funding of $117.67 million, with an additional $50 million available for earn-out opportunities and potential expansion of the hotel portfolio [2] - This transaction aligns with CIM Group's strategy to focus on the hospitality industry, particularly in select-service and extended-stay hotels [3] Company Overview - CIM Group has completed over $60 billion in real estate and infrastructure projects across the Americas since its founding in 1994 [4] - The company engages in various lending activities, including mortgage and mezzanine loans, as well as bridge and construction financing for commercial real estate owners and developers [4] - In 2023, CIM Group has executed similar transactions, including a $75 million loan for a select-service hotel property in San Diego [3] Recent Transactions - In September 2023, CIM Group closed two loans for hotels in Florida, including a $34.97 million senior loan for a dual-branded Aloft/Element hotel in Orlando and a $28.9 million whole loan for an Aloft hotel in Tampa [5]