Thomas Financial Group Closes $14.3 Million USDA Loan in Just 35 Days to Preserve and Reposition Two Historic California Boutique Hotels

Expedited financing effort supports revitalization of iconic hospitality destinations along the California coast, ensuring long-term economic and cultural impact

GRASS VALLEY, Calif. and NEVADA CITY, Calif., July 29, 2025 (GLOBE NEWSWIRE) -- In a remarkable 35-day closing, Community Bankshares Inc. subsidiaries, Thomas Financial Group, Phoenix Lender Services and Community Bank & Trust in partnership with Siguler Guff, successfully closed a $13.9 million Bridge Loan. This loan will be taken out by a USDA Business & Industry loan valued at $14.3 million, enabling the acquisition of two properties and the takeover of operations at two of California’s most iconic boutique hotels: The National Exchange Hotel in Nevada City and The Holbrooke Hotel in Grass Valley.

The Bridge Loan will help preserve two historic landmarks, secure 128 local jobs, and strengthen long-term economic development in the Sierra Nevada Foothills.

“This loan closed in just 35 days, which is proof of what’s possible when public-private collaboration, urgency, and experience align,” said Zach Chandler, SVP of Government Guaranteed Lending at Thomas Financial Group. “We’re proud to have delivered speed and certainty on a project that supports both history and economic sustainability.”

This loan structure was essential to meeting urgent purchase deadlines. By providing immediate liquidity while the long-term USDA loan was processed, the financing allowed ownership to avoid costly delays, preserve capital, and focus on operational continuity. In today’s market, where timing can define success or failure, these incredibly fast loan solutions are increasingly critical to ensuring projects stay on track and maximize value creation.

Originated and underwritten by Thomas Financial Group and packaged by Phoenix Lender Services, the loan was provided to 211 National LLC and 212 Holbrooke LLC, entities sponsored by hospitality veteran James Gould and real estate developer Duke Miglin. Together, they bring over 50 years of combined experience, including the successful turnaround of Missouri’s historic Elms Hotel & Spa. Siguler Guff’s Credit and Special Situations Team led the financing for the partnership. This team manages an absolute return investment strategy that focuses on private credit, including both specialty finance and corporate lending. The strategy is designed to be flexible, allowing the team to take advantage of market dislocations within traded credit when opportunities arise.

Originally built in the 1850s and completely renovated in 2020, the 38-room National Exchange Hotel and the 28-room Holbrooke Hotel now combine Gold Rush-era architecture with upscale, modern amenities. The hotels are also culinary destinations in their own right, with the Holbrooke’s Golden Gate Saloon and Iron Door Tavern and The National’s Lola Restaurant and Grand Lounge contributing to an F&B program that accounts for roughly 60% of total revenues, well above industry norms.

Just 10 minutes apart and less than 2.5 hours from the Bay Area, the hotels benefit from a strong drive-to market with minimal local competition. With strategic rate optimization and elevated guest experiences, the properties are positioned to achieve ADR and RevPAR metrics that are on par with top-tier California destinations such as Napa and Lake Tahoe.

To ensure long-term success, operations will be overseen by a best-in-class partnership between Acme Hospitality, known for food & beverage innovation, and Horizon Hotel Group. This dual approach blends local execution with national infrastructure for superior performance.

For more information, please visit https://www.thomasusaf.com/.

About Thomas Financial Group
Thomas Financial Group is a nationwide leader in USDA and SBA lending, specializing in hospitality, rural development and community-driven finance. With a reputation for delivering speed, certainty, and customized solutions, TFG continues to empower entrepreneurs, preserve historic assets. Furthermore, Thomas Financial Group prides themselves on job creation in rural and underserved markets across the country.

About Community Bank & Trust
Community Bank & Trust (CB&T), a subsidiary of Community Bankshares Inc., is a trusted financial institution dedicated to serving individuals, families, and businesses across its service area and nationwide. Headquartered in LaGrange, GA, CB&T is committed to leveraging its rural roots to empower both local consumers and commercial entities, as well as underserved groups and communities with a broad slate of accessible, personalized banking solutions, while also reaching a diverse and growing nationwide audience.

About Siguler Guff
Siguler Guff is a multi-strategy private markets investment firm with approximately $17 billion of assets under management and 30 years of investment experience. Siguler Guff seeks to generate strong, risk-adjusted returns by focusing opportunistically on market niches. Siguler Guff's core investment strategies include private credit and special situations, small business private equity, real estate and emerging markets. Siguler Guff's investment products include direct investment funds, multi-manager funds and customized separate accounts targeting specific areas of compelling opportunity. Founded in 1991 and headquartered in New York, Siguler Guff maintains offices in Boston, Hong Kong, London, Mumbai, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tokyo, Houston, TX, and West Palm Beach, FL. To learn more about Siguler Guff, please visit www.sigulerguff.com

Media Contact
Abigail Davison
Uproar by Moburst for Community Bankshares, Inc.
abigail.davison@moburst.com

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