Fundraising - JUNE 19, 2017

Woodbine raises $85m, launches private equity fund for hospitality investments and acquisitions

by Released

Woodbine Development Corp. has announced the creation of Woodbine Legacy Investments, a real estate fund capitalized by select family offices, foundations and institutions. The $85 million fund represents $250 million in purchasing power, which will be used for acquiring and investing in branded, boutique and independent hospitality assets across the United States.

WLI will pursue lower risk, conservatively leveraged full-service and upscale select-service hotels in high-barrier-to-entry markets — seeking out strategic cash-flowing properties with the intention of longer term holds while maintaining the option for opportunistic exit timelines when conditions warrant.

In late March, WLI made its inaugural acquisition in its hometown with the purchase of Hilton Dallas, Park Cities, a 224-room boutique hotel in one of the most affluent submarkets in the city.

This made the hotel a natural foundational addition to the WLI portfolio — one that is positioned for growth and appreciation, ultimately generating cash flow to investors over time.

Woodbine’s projects have shaped skylines and landscapes stretching across America from Washington, D.C., to Florida to California to Oregon. The company’s first project, Reunion Tower and Hyatt Regency Dallas at Reunion, opened in 1978 and redefined the Dallas skyline.

In recent years, Woodbine has diversified its brand portfolio, capital sources and geographic reach, and has specialized in hospitality development across brand categories — including ground-up hotel projects in the upscale select-service properties such as AC Hotel Tempe, AC Hotel Irvine, Hyatt Place DFW Airport and the Courtyard by Marriott at Springwoods Village near Houston. It has also partnered on the development and renovation of luxury boutique and independent destinations, including Hotel Emma in San Antonio; the Old No. 77 and Chandlery in New Orleans; the Sentinel in Portland; and the recently opened Mountain Shadows Resort and luxury residences in Paradise Valley, Ariz.

Woodbine Legacy Investments is a real estate investment platform that focuses on branded, boutique and independent hotel acquisitions and investments across the United States.

Woodbine Development Corp. is a full-service real estate company with more than 40 years of development, investment, acquisition and asset management experience.

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