CWB Franchise Finance, a division of CWB Financial, provided an acquisition and refinancing term loan and revolving line of credit to 3G Equity for its 10-hotel portfolio.

CWB’s solution consisted of paying out eight existing hotel syndicated mortgages, financing two acquisitions and providing an equity take-out for corporate realignment and strategic plan execution, including movements between associated companies. CWB also created equity loan availability for renovations and additional future acquisitions.

“We were able to create a global portfolio financing solution for 3G Equity that was based on all ten hotels, releasing unrealized equity with a consolidated view of the assets working together,” said Cameron Woof, assistant vice president of Hotels and Syndication with CWB Franchise Finance. “We were also able to adjust and customize funding timing to allow the acquisitions to transact independent of each other and the portfolio refi and provide organizational freedom to move assets and payments between companies and shareholders. This allowed 3G Equity to methodically work through the portfolio update in a logical and sequential manner.”

“CWB went above and beyond, creating the perfect mix of financing solutions to help us materialize our strategic vision with a view to our long-term corporate goals,” says Mike Lai, president with 3G Equity. “We now have financial flexibility for property improvement renovations and portfolio re-alignment through dispositions and future acquisitions. With our CWB partnership, we can direct and focus our efforts on achieving our strategic plan objectives.”

CWB Franchise Finance specializes in financing for regional and national restaurants and hotels and is a leading lender to the Canadian restaurant and hospitality industries. Previously GE Capital Canada’s franchise financing arm, CWB Franchise Finance was acquired by CWB Financial Group in 2016.

3G Equity is an Alberta-based hotel ownership group which owns 10 branded hotels throughout the Alberta region in Canada.