Dallas-based Encore Enterprise, Inc., a diversified, vertically integrated real estate investment company, has launched a new hospitality real estate fund, Encore Hospitality Fund II, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
Encore Hospitality Fund II will focus its investments in hotel properties throughout the United States. The fund is seeking to raise a maximum of $80 million in total equity commitments.
Encore recently purchased a Hampton Inn hotel in Braintree, Mass., where it plans to invest around $25,000 per room to completely renovate all aspects of the hotel including guest rooms, meeting rooms, lobby, lounge, exterior of the building, landscaping and the pool area.
As of June 30, 2016, Encore had completed a total of 150 transaction worth $2.5 billion.
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