Almanac Realty Investors fund invests $150m with McNeill Hotel Investors

McNeill Hotel Investors has entered into an agreement with an investment fund managed by Almanac Realty Investors. The fund has committed to provide up to $150 million of capital to McNeill.

Almanac’s investment in McNeill is the first out of its most recent fund, Almanac Realty Securities VIII, a value-added real estate vehicle that makes growth-capital investments into real estate operating companies, often in a structured or debt format, primarily in the United States.

It is expected that the investment will allow McNeill to double the size of its portfolio through the acquisition, development and management of select-service hotels located in secondary and select tertiary markets across the United States and by using premium-branded flags from the major domestic franchisors.

McNeill owns and manages 17 select-service hotels, and is an approved franchisee for Marriott and Hilton across the Southeast and Mountain states, with several additional properties currently under development.