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Oaktree, Trinity JV Targets $3B in Hotel Investment
Trinity Investments LLC and funds managed by Oaktree Capital Management, L.P. formed a joint venture to invest up to $3 billion in high-quality, value added hotels in Trinity’s core markets of Hawaii, California, Mexico and Japan. The JV will seek to invest alongside global institutional and high net worth partners in these markets.
“Expanding our relationship with Oaktree provides us with additional capital to increase our scale in our core markets,” said Trinity’s Sean Hehir. “Oaktree is a savvy investor who recognizes the success of our platform and shares our bullish outlook on these markets.”
The partnership follows Trinity and Oaktree’s recent acquisition of the long-term leasehold interest in The Westin Maui Resort & Spa (pictured) from an affiliate of Starwood Hotels & Resorts. The pair may also pursue hotel investments in select gateway markets in the U.S. Trinity will oversee the JV and be responsible for its acquisitions and asset management.
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