Publications

Fundraising - FEBRUARY 12, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Magna markets fifth hotel fund

by Andrea Waitrovich

Magna Hospitality Group has a fifth fund in the market and has raised $153.5 million, according to a filing with the SEC. Magna Hotel Fund V aims to raise $178.5 million in equity.

The fund series invests in hotel properties in central business districts and in-fill suburban markets. The majority of its properties operate under brands such as Hilton, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites, Marriott and Sheraton.

Magna Hotel Fund IV closed in 2012 with $135 million in equity. Assets in its portfolio include the Hampton Inn JFK Airport in Jamaica, N.Y., which was purchased for $41.3 million, and the Hilton Garden Inn in Washington, D.C., which was acquired for $42.3 million.

And Magna Hotel Fund III closed in June 2008 with $75 million in equity. Magna Hotel Fund II closed in 2005 with $9.1 million, and the firm’s debut

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy