The acquisition is the sixth for the partnership, which has targeted more than $1 billion of value-add and distressed hospitality and housing assets in major US. cities.
“We will continue to leverage our hospitality, multifamily and student housing expertise to refresh and/or reposition assets such as the Sheraton Boston Hotel in order to seek to maximize value,” said Ross Walker of Hawkins Way Capital.
“Our strategy for the joint venture is to build a high quality, inflation protected and cash flow generative portfolio in major US cities,” added Francisco Milone, partner at Värde Partners. “The pandemic is driving this opportunity among distressed hospitality and select housing assets in gateway markets with high demand for certain alternative hospitality, residential and student housing products.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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