Florida
🌴 Florida Commercial Mortgage Market
Key Markets: Miami · Orlando · Tampa · Fort Lauderdale · Naples · Jacksonville · Fort Myers · West Palm Beach · St. Petersburg · Gainesville
Florida is First Realty Capital's largest hotel PIP refinance market. The state has the highest concentration of 2015–2017 vintage select-service hotels (IHG, Hilton, Marriott) approaching their first major franchise PIP cycle. RevPAR growth of +3.4% YoY supports post-renovation value uplift. Florida also has USDA B&I eligible rural zones in Osceola, Levy, Gilchrist, and Lafayette counties — ideal for assisted living facility financing.
Cap Rate (Select-Svc)
7.25–7.75%
USDA B&I Eligible
✅ (Rural Counties)
Top PIP Pipeline
IHG · Hilton · Marriott
Get a Quote for Florida →
Texas
⭐ Texas Commercial Mortgage Market
Key Markets: Dallas/Fort Worth · Houston · Austin · San Antonio · El Paso · Corpus Christi
Texas has the highest RevPAR growth rate in our target region (+4.1% YoY), driven by corporate relocations to DFW, Austin's tech sector, and Houston's energy and medical corridor. The Dallas/Fort Worth metroplex has the largest select-service hotel inventory in the state. San Antonio and El Paso offer strong occupancy fundamentals with lower construction costs.
USDA B&I Eligible
✅ (West TX rural)
Top PIP Pipeline
Hampton · Courtyard · HIE
Get a Quote for Texas →
Tennessee
🎸 Tennessee Commercial Mortgage Market
Key Markets: Nashville · Memphis · Knoxville · Chattanooga
Tennessee — and Nashville in particular — is the #1 HOT sub-market in our Lead Intelligence scoring. Nashville's RevPAR growth of +6.2% YoY is driven by record tourism, corporate relocation (Oracle, Amazon), and convention center expansion. Memphis and Knoxville have strong refinance maturity pipelines with lower supply risk. Chattanooga is an emerging leisure-corporate hybrid market.
RevPAR Growth
5.2% Statewide
Nashville RevPAR
6.2% YoY — #1
USDA Eligible
✅ (Rural East TN)
Top Brands
HIE · Hampton · Fairfield
IRR Target
13–18% levered
Get a Quote for Tennessee →
Georgia
🍑 Georgia Commercial Mortgage Market
Key Markets: Atlanta · Savannah · Augusta · Macon · Columbus
Atlanta is a top-5 US CMBS hotel market — national brands maintain strong occupancy driven by Hartsfield-Jackson Airport (world's busiest) and Midtown/Buckhead corporate demand. Savannah's ADR is growing the fastest in the state (+5.3%), driven by Port of Savannah expansion and Gulfstream aerospace. Augusta benefits from Masters Tournament demand and Fort Eisenhower military presence.
Atlanta CMBS Vol.
Top-5 Nationally
Savannah ADR Gr.
5.3% YoY
USDA Eligible
✅ (Rural SW Georgia)
Top Pipeline
Courtyard · Fairfield · HIE
Get a Quote for Georgia →
North Carolina
🌲 North Carolina Commercial Mortgage Market
Key Markets: Charlotte · Raleigh/Durham · Asheville · Greensboro · Winston-Salem
Charlotte and the Research Triangle (Raleigh/Durham) are among the fastest-growing job markets in the Southeast, driving consistent corporate hotel demand. Asheville is a premium leisure submarket with limited new supply and ADR significantly above state average. The Piedmont Triad (Greensboro/Winston-Salem) has a strong manufacturing and logistics base with steady hotel occupancy.
Charlotte Job Growth
5.1% YoY
Asheville Supply Risk
Low
USDA Eligible
✅ (Western Mountains)
Top Pipeline
Hampton · Fairfield · HIE
Get a Quote for North Carolina →
South Carolina
🌊 South Carolina Commercial Mortgage Market
Key Markets: Charleston · Myrtle Beach · Columbia · Greenville · Spartanburg
Charleston is one of the most desirable leisure and corporate mixed-demand markets in the Southeast — limited supply and high barriers to entry support premium ADR. Myrtle Beach is the largest tourism market in the state with strong seasonal RevPAR peaks. Greenville-Spartanburg benefits from BMW, Michelin, and Upstate manufacturing demand. Columbia is driven by University of South Carolina and Fort Jackson.
Charleston ADR
Premium tier
Myrtle Beach Demand
Seasonal leisure
USDA Eligible
✅ (Lowcountry rural)
Top Pipeline
Hampton · HIE · Fairfield
Get a Quote for South Carolina →