Phoenix American Hospitality Acquires Seven Select-Service Hotels in $109M Transaction
July 17, 2017 12:19pm
DALLAS (July 17, 2017) - Phoenix American Hospitality, a Dallas-based hotel fund manager, announces the $109M purchase of seven upscale select-service hotels in Arkansas, Louisiana and Florida.
This acquisition of one Hilton and six Marriott properties adds 778 rooms to the Phoenix American Hospitality portfolio. So far in 2017 Phoenix American Hospitality has purchased 13 properties totaling 1532 rooms in nine states. These acquisitions were purchased through a joint venture arrangement with Aspect Investment Partners Ltd.
The newly acquired properties include:
“Each of these properties is a meaningful addition to our growing portfolio,” said Perch Nelson, President of Phoenix American Hospitality. “We anticipate a strong partnership and long-term success with each property”.
"We are constantly looking for value add opportunities across multiple sectors within the US Real Estate space, and this transaction falls right within our criteria” said Ahmed Farid, President of Aspect Investment Partners.
For more information, please visit www.phoenixamericanhospitality.com, call (214) 750-2967.
Tags: phoenix american hospitality,
aspect investment partners
Phoenix American Hospitality (PAH) is an "opportunistic" hotel fund manager that believes that the current economic and real estate environment has created acquisition opportunities in select markets. The ability to profit in an opportunistic cycle is based upon value enhancement strategy, sound acquisition policy followed closely by Phoenix American's ability and experience to execute the strategy.
Phoenix American Hospitality has teamed with Institutional Investors and provides "best of class" hotel management to provide a diverse portfolio of hotel properties that are both economically and efficiently managed.
Contact: Tanner Thurman
Aspect Investment Partners Ltd.(“Aspect”) is a principal investment firm incorporated in the Cayman Islands, focused on delivering value to its shareholders and clients through investments along 3 complementary tracks, namely Real Estate, Specialist Credit and Private-Public Equity. The firm was founded by professionals who have over 50 years of diversified experience in conventional and alternative investments. The team has worked together for over 20 years during which they have invested over US$20 billion across various asset classes in the USA, Europe, MENA, and Asia. Aspect through its joint venture entities owns 13 hotels and 1532 rooms in 12 cities across the US.
Aspect Investment Partners (DIFC) Limited is a global investment advisory firm, wholly owned by Aspect Investment Partners Ltd. Aspect investment Partners (DIFC) Limited is authorised and regulated by DFSA and provides financial services only to Professional Clients.
For more information, please visit www.aspectinvestmentpartners.com.
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