Parthiv appears in the Top 100
People in Real Estate Magazine
Growing up, Parthiv Patel watched as his father invested in hotels and retail establishments, using his business savvy to identify the most lucrative gems. While Parthiv’s success as an investor and a hotelier with a portfolio of nine hotels did not come from inheritance, a passion and natural talent for finance, banking, and real estate were infused in his DNA during his formative years. Now, with nearly two decades of experience in banking and finance—and a particular skill in hotel financing, brokerage, and operations—Parthiv is the partner and president of a private real estate financing and real estate brokerage company, which consists of Creative Lending Solutions Corp., CLS Mortgage Inc., CLS Hospitality, and CLS Real Estate Group. With headquarters in Chicago and offices in Atlanta and LA, Creative Lending Solutions specializes in hospitality financing across U.S., providing a quarter-billion in annual financing, brokerage, and mortgages, attracting buyers and sellers from across the nation.
From individual hotel owners to first-time hotel buyers and franchisees, Parthiv’s clients trust not just his knowledge and skill as a finance expert and a former banker, but his insight as the owner of the most well-known hospitality names in the industry—Comfort Inn, Hampton Inn, Hawthorne, Red Roof Inn, Quality Inn, Motel 6, Super 8, and others. As president of CLS, Parthiv is a hands-on leader, not only managing the team’s sales, operations, productions, and processes, but serving as a producer, himself, projected to complete nearly $100 million in financing deals this year alone. We spoke with Parthiv to learn more about his career journey and what drove him to leave the C-suite of one of the biggest banks in the nation to found CLS.
What inspired you to join the real estate industry?
I started my career as a banker with Fifth Third Bank and worked my way up to managing multiple branches over 10 years, with positions of branch manager to vice president to team lead of Small Business Banking in Chicago. Then, in 2015, my partner started CLS and I left the corporate world two years later to start my own private financing business. We ultimately joined in 2016 and it was just the two of us doing around $30 million in financing. Now we’ve grown to well over $250 million. It wasn’t easy getting here, and I’m still working close to 80 hours per week, but I take pride in how far CLS has come in such a short time.
What compelled you to start your own firm with a focus on hospitality financing?
While I was working for Fifth Third, I always dreamed of starting my own financing company but it was having my son that pushed me to finally do it. It really bothered me that I had to rush to drop him off at my parents’ house before work, and my wife had to rush to pick him up. In March 2015, I gave the bank notice that I was leaving at the end of the year. Three days later they said, “If you’re going to leave, go now.” So, I launched my company by the end of the week. The Indian community is very embedded in hotels here. Most of us are from the same state in India, where citizens own 49% of the hotels, and we speak the same language. Given my culture and background in financing and marketing, it was easy to attract clients, and we’ve been growing ever since.
How does your insight as a successful hotelier benefit your clients?
As the owner of hotels, I understand what the buyers are looking for—the operation/profit side. I can spot when margins are up, when sellers are doing well or making mistakes, and I can explain how the market works. I also understand the financing side of it. Sometimes lenders lack that insight—the margins and what’s required to run a successful hotel—and I can tell them that because I live it with my own hotels.
To what do your attribute your success?
I saw my dad working seven days a week growing up and that instilled a strong work ethic in me. All I’ve ever known is how to work hard—for my family and for my clients. Fortunately, my wife is very understanding about my long office hours. She knows I’m building generational wealth for our children and grandchildren.
What do you enjoy most about your work?
Although the financial aspect is important, I really enjoy helping people build generational wealth. Many of my clients who own multiple hotels won’t buy another without my blessing. They turn to me as their trusted advisor because I was there for their first purchase and each one after. That’s what matters most to me.
Parthiv is a graduate of Roosevelt University where he earned a bachelor’s degree in finance.
Partner and President
Creative Lending Solutions Corp.
Facebook: Parthiv Patel