“We started Sandpiper because we identified an underserved need that extended stay hotels meet. Customers seeking a place to stay for one week to six months have very few affordable, efficient options. Our hotels meet that need and demand for this purpose-built product continues to exceed supply.

As investors and operators, Sandpiper’s extended stay hotel properties have demonstrated a balanced, risk-versus-reward profile since our inception. This hotel segment has been tested during both the 2008-2010 economic downturn and the COVID-19 pandemic. We have remained cash flow positive and have substantially outperformed the overall hotel industry during these stressful times. We continue to see attractive return opportunities in this space and believe many years of strong growth lie ahead.”

Carter Rise, Founder

WHO WE ARE

“We started Sandpiper because we identified an underserved need that extended stay hotels meet. Customers seeking a place to stay for one week to six months have very few affordable, efficient options. Our hotels meet that need and demand for this purpose-built product continues to exceed supply.

As investors and operators, Sandpiper’s extended stay hotel properties have demonstrated a balanced, risk-versus-reward profile since our inception. This hotel segment has been tested during both the 2008-2010 economic downturn and the COVID-19 pandemic. We have remained cash flow positive and have substantially outperformed the overall hotel industry during these stressful times. We continue to see attractive return opportunities in this space and believe many years of strong growth lie ahead.”

Carter Rise, Founder

Sandpiper Property

EXPLORE SANDPIPER

OUR TEAM

Carter Rise

Founder & Managing Partner of Sandpiper Hospitality

President, Chief Executive Officer and Chairman of SLT

Carter Rise has served as President, CEO, and Chairman of the Board of the Company since the Company’s inception. Mr. Rise is the founder and sole member of Sandpiper, LLC, the Manager’s majority owner and controlling member, and the sole common shareholder and a significant preferred shareholder in each of the Sandpiper funds. Mr. Rise also is the majority owner of Sandpiper Hospitality, a hotel management company. Since 2012, Mr. Rise has served on WoodSpring Suites Franchise Advisory Council, and is currently serving his third term as it’s Chairman.

From 2001 to 2008, Mr. Rise was a Founder and Managing Partner of Scura, Rise & Partners, LLC, an investment banking boutique based in New York, NY. Prior to 2001, Mr. Rise was an investment banker for 13 years with Prudential Securities, Inc. and its predecessor company, Prudential-Bache, Inc., where he served as Managing Director and Group Head of the Financial Services Group.

Mr. Rise has an MBA from the Wharton School at the University of Pennsylvania and a B.S. from the McIntire School of Commerce at the University of Virginia.

Jim Darter

President & Chief Executive Officer of Sandpiper Hospitality

Jim Darter is the President and Chief Executive Officer of Sandpiper Hospitality since April 2016. He is responsible for all aspects of the company’s operations and performance. With over 25 years of on-property and above-property leadership. Mr. Darter is a lifelong hotelier with years of experience.

Mr. Darter was most recently the Chief Operating Officer at GoldKey | PHR in Virginia and was the SVP of the Full-Service Division of Sage Hospitality (“Sage”) from 2000 to 2014. During his time at Sage, he had oversight of over 120 hotels across the United States in virtually all industry segments and brands, from Fairfield Inn by Marriott to Starwood’s Luxury Collection. His brand relationships resulted in him being asked to serve on several advisory boards and councils.

Mr. Darter holds a B.S.B.A. in Business Administration from the University of North Carolina at Charlotte.

John Austin

Chief Financial Officer

John Austin has served as the Chief Financial Officer, Treasurer, and Secretary of the Company since its inception in June 2018 after serving as a consultant of Sandpiper. Mr. Austin is responsible for managing all financial functions for the Sandpiper affiliates.

Prior to Sandpiper, Mr. Austin was the Chief Financial Officer of The Chef’s Warehouse, Inc., a publicly traded foodservice distributor, from 2012 to 2017, after having served on the Board of Directors from 2011 to 2012. From 2009 to 2012, Mr. Austin was a founder and former Chief Financial Officer of the HILB Group, LLC, an insurance broker in Richmond, Virginia. Mr. Austin worked at Performance Food Group Company (“PFG”), a Richmond-based publicly traded foodservice distributor, for over 14 years, serving a portion of his time as their CFO. Mr. Austin was integrally involved in leading the company through the process of going private and the divestiture of a major business segment that created significant shareholder value.

Mr. Austin holds a B.S. in Accounting from the University of Delaware.

Andy Anderson

Chief Acquisition Officer

Andy Anderson joined the Company in June 2018 as Chief Acquisitions Officer, after serving as a consultant to Sandpiper. Mr. Anderson focuses on identifying and completing strategic hotel acquisitions for the Company and assists with legal and capital market requirements.

Mr. Anderson most recently served as the Executive Vice President of Corporate Development for WoodSpring Suites Hotels, where he was responsible for the activities of the brand’s large-scale developers nationwide and internal and external acquisitions. Mr. Anderson has more than 30 years of real estate transactional experience derived from his roles as a partner at Sandman and Savrann, a national law firm specializing in the hospitality industry, General Counsel of Mid America Real Estate Companies, Granite Golf, and his years in private practice. He also leverages over 20 years of business development in the hospitality industry and has been a critical part of business development teams for GE Capital Solutions – Hospitality Finance, Citi Hospitality Finance, Troon Golf and WoodSpring Suite Hotels.

Mr. Anderson graduated with honors from the University of Tulsa College of Law and graduated Cum Laude from Northern Illinois University.

Ned Sinnott

Managing Director, Equity & Investor Relations

Ned Sinnott joined Sandpiper in September 2012 as Managing Director. Mr. Sinnott oversees investor relations and equity investments for the Company. Mr. Sinnott is a key member of our management team and has been responsible for overseeing capital raising efforts that have resulted in $130 million in equity investments for the Company and other Sandpiper entities. Further, he was responsible for identifying and securing most of the real estate sites for Sandpiper Hospitality IV, LLC and Sandpiper Hospitality V, LLC.

Mr. Sinnott has held several sales and management positions over his 25-year career. Most recently, from 2006 to 2012, he was a Senior Vice President in Institutional Equity Sales with Davenport & Company and Wunderlich Securities, covering major institutional accounts in New York, Connecticut, North Carolina, Tennessee and Virginia.

Mr. Sinnott has a B.A. in History from the University of Virginia.

Renita Sommers

Chief of Staff

Renita Sommers is the Chief of Staff for Sandpiper and has been with the Company since 2010. Ms. Sommers assists SLT’s executive team with internal and external communication, development projects, acquisitions, asset management, planning and operations. Most importantly, Ms. Sommers is a liaison between the ownership entities and SLT’s property management company, Sandpiper Hospitality.

Prior to Sandpiper, Ms. Sommers has held several real estate-related positions over her career. Most recently, Ms. Sommers founded and sold a home staging business. Before that, Ms. Sommers ran a real estate management business that consisted of a portfolio of 175 residential properties and an apartment complex.

Ms. Sommers holds a B.A. from The American University in London.

Will Garson

Associate – Acquisitions & Financial Analytics Manager

Will Garson joined the Company in January 2019 as an Acquisitions Associate and Financial Analytics Manager. Mr. Garson is responsible for providing analytical support for the acquisition, development, and financing activities of SLT’s portfolio.

Prior to joining Sandpiper, Mr. Garson spent three and a half years as a Financial Analyst at Hackney Real Estate Partners, a private real estate investment firm. There, he played an integral role in both acquisition and disposition processes as the sole analyst responsible for underwriting properties. During his time with the firm, Mr. Garson assisted in underwriting over $180 million in acquisitions and dispositions.

Mr. Garson holds a B.A. in Economics and a B.A. in Government & Law from Lafayette College. He also holds the Certified Commercial Investment Member (CCIM) designation.