About Cole

Cole Spain focuses on debt and equity finance for the hospitality industry. He is a real estate capital markets professional with deep expertise in debt and structured finance across a wide range of asset classes, including hospitality, multifamily, retail, mixed-use, condominium, senior living, self-storage, land, and special use assets.

Prior to joining Avison Young, Cole served as a Director at Twenty Degrees North, a boutique debt and structured finance advisory firm, and at Vivek Capital, a real estate private credit direct lender. He also held the role of Vice President within the Hospitality Group at Bull Realty, an Atlanta-based commercial real estate brokerage. Over the course of his career, Cole has executed and advised on more than $600 million in transactions spanning a broad range of capital structures, including conventional, bridge, construction, CMBS, CPACE, mezzanine, preferred equity, JV common equity, equipment financing, and special assessments. While at Bull Realty, he led hotel investment sales and non-performing loan transactions, notably closing the firm’s first hotel deal since the Great Financial Crisis.

In addition to his strengths in relational business development and deal execution, Cole brings a robust analytical foundation to his work. In his underwriting experience, he built financial models assessing asset-level performance, individual loan originations and credit risk, as well as forecasting company level performance of private credit direct lenders with various waterfall structures.

Cole holds a Bachelor of Business Administration in Managerial Finance and Real Estate from the University of Mississippi, where he graduated cum laude. He has also earned an Advanced Certification in Real Estate and Hotel Investment from Cornell University and completed the Professional Writing Program through UC Berkeley Extension.

An Atlanta native, Cole and his wife, Audrey Ruth, actively serve in their community of Clarkston, GA through their local church Christ Covenant and ministries such as Send Relief and Kidz2Leaders. In his free time, he enjoys Ole Miss athletics, Atlanta sports, golf, hunting, and spending time with his wife, friends, and family.