Trinity Fund Advisors Holds US$520m Final Close for Value-Add Hospitality Fund
Main Photo: The JW Marriott Phoenix Desert Ridge, one of the hotels already held by Trinity
Date: June 2021
Location: “The top 25 U.S. markets”
Name: The Trinity GP Fund I
No. of Keys: TBA
Owner: Trinity Fund Advisors has completed a final close of its Trinity GP Fund I, the firm’s inaugural U.S. discretionary commingled real estate fund, with $520 million in capital commitments.
The fund was oversubscribed, significantly exceeding its $315 million fundraising target, with commitments coming from a wide range of institutional investors, sovereign wealth funds, domestic and international family offices, and high-net-worth individuals.
Trinity GP Fund I was one of the largest U.S. hospitality-focused real estate private equity funds targeting value-added investments in upscale and luxury resorts and hotels in the United States, according to the firm. Based on the strength of Trinity’s pipeline, the firm expects to generate significant co-investment opportunities for its strategic partners over the next three years.
Trinity GP Fund I will seek to acquire a portfolio of hotels primarily in the top 25 U.S. markets. Trinity believes the current dislocation in the hospitality market presents unique opportunities over the coming years to acquire upscale and luxury assets at discounts to intrinsic value and produce outsized returns for its investors.
“The current environment is highly conducive to the fund’s investment strategy and the skill set our team has refined over the course of our respective careers,” said Lee Neibart, chairman and senior partner of Trinity. “We look forward to leveraging our competitive advantages to source and execute transactions that are capable of delivering attractive risk-adjusted returns to our investors.”
THPT Comment: Trinity is no stranger to spectacular hotels and resorts in the US, from the JW Marriott Phoenix Desert Ridge to the Grande Lakes Orlando Resort, with two Marriott hotels on site….no wonder this fund is over-subscribed.
First Seen: Institutional Real Estate
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