Some Swiss investors appear to be heading down Europe’s mountains to spend time in seaside resorts.
Private equity firm based in Switzerland partners group We plan to acquire a minority stake in Trinity InvestmentsThe company, a Honolulu-based hospitality-focused real estate investment company, made the announcement Monday.
Details of the sale were not disclosed, but Partners Group initially invested $500 million in the acquisition with Trinity, adding to the company’s North American, European and “special situations” platforms as part of the deal. There is also an option to inject further capital.
“We see ample opportunity to bring our sophisticated platform for hotel real estate, repositioning, operations and asset management to new hotel assets and credit investments in North America and internationally.” Sean Hehirsaid Trinity’s managing partner, president and CEO in a statement.
Trinity, which manages a $5.8 billion portfolio, made headlines for spending in early 2023 $835 million for a vast site Diplomat Beach Resort It’s the biggest hotel deal in Hollywood, Florida since the start of the coronavirus pandemic. The 1,000 key resort is one of his second largest resorts in Florida. fontainebleau At Miami Beach.
previous owner brookfield properties began marketing its seaside Diplomat resort in 2019 and was negotiating a series of potential deals with resort moguls. jeffrey sofaHe is also the owner of Fontainebleau. before finally selling it to Trinity several years later..
Partner and Trinity are no strangers.Their relationship began in 2022 as a joint venture to acquire Four Seasons Resort Dallas at Las Colinas, which later became a Four Seasons Resort. ritz carlton Assets and amounts are not disclosed. The joint venture also announced earlier this month that it had purchased more than 400 keys. Scottsdale Plaza Resort & Villas Prices are also not disclosed in Scottsdale, Arizona.
“We invest in real estate management companies to gain vertical depth in sectors and geographies where we have strong thematic beliefs. Trinity has nearly 30 years of experience in the hotel real estate asset class; The depth of his knowledge shines through.” Jason LongoPartners Group’s senior investment leader said in a statement.
Nick Trombola can be contacted at: ntrombola@commercialobserver.com.
