DoveHill Capital Management Completes a $50 Million Note Acquisition on a Brooklyn Hotel

Fort Lauderdale-Based Hospitality Investment Firm Announces the Completion of its Seventh Investment since Covid

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Aug 09, 2021, 12:03 ET

FORT LAUDERDALE, Fla., Aug. 9, 2021 /PRNewswire/ -- DoveHill Capital Management, LLC, ("DoveHill") a vertically integrated hospitality investment firm and development organization, today announces its recent $50 million performing note acquisition on a brand new irreplaceable lifestyle hotel in Brooklyn, New York. This is the seventh investment DoveHill has made since the beginning of the pandemic. DoveHill's portfolio now encompasses fifteen properties in North America.

"This hotel is located near all major demand generators in Brooklyn, New York. Despite the pandemic, Brooklyn has continued to experience unprecedented growth. Over the past decade, Brooklyn has achieved a 5.6% RevPAR compounded annual growth rate, compared to 4.1% for the US and 1.1% for Manhattan", said Jake Wurzak, Founder and CEO of DoveHill Capital Management. "We continue to be one of the most active hospitality-focused investment firms this year, as we have been able to quickly adapt and source compelling opportunities at all levels of the capitalization stack."

For more information on DoveHill Capital Management, visit www.dovehillcos.com.

DoveHill Capital Management

DoveHill Capital Management is in Fort Lauderdale, Florida. It is a vertically integrated hospitality investment and development organization with a portfolio of urban infill, lifestyle hotels, and premium branded full-service assets across North America, primarily on the east coast.

The firm's core competency is the creation of highly differentiated, locally curated properties set in high-growth and high-culture environments with diverse demand generators and distinct barriers to entry.

DoveHill seeks out investments in full-service lifestyle properties at attractive entry points, then implements strategies to reposition and transform the real estate asset and create differentiated advantages that augment its value for partners and investors.

Media Contact:
Meaghan Peeler
[email protected]
215-689-0245

SOURCE DoveHill Capital Management, LLC