DoveHill: Invests in hotels worth over $525 million through its preferred equity platform

News provided by

Sep 13, 2022, 09:00 ET

FORT LAUDERDALE, Fla., Sept. 13, 2022 /PRNewswire/ -- Headquartered in Fort Lauderdale, Florida, DoveHill Capital Management is a vertically integrated hospitality investment platform focusing on full service and lifestyle assets in robust high barrier to entry markets.

It currently has 15 properties across North America, including a concentration in Florida, and is not done investing. DoveHill Capital Management rapidly expanded its portfolio through the pandemic focusing on off-market preferred equity investments. DoveHill made six of these investments for a total of $27M, collateralized by six hotels: one in New York City, one in North Carolina, one in Maryland, and three in Pennsylvania.

DoveHill Capital Management has built a reputation for speed and flexibility in structuring these preferred investments and DoveHill's vertically integrated platform allows it to function as a strategic partner for the deal. With a background as developers, owners, and managers, the DoveHill team is aware of the unique nuances involved in these types of investments.

DoveHill Capital Management founder and CEO Jake Wurzak said: "While the COVID-19 health pandemic has challenged the hospitality industry significantly, we have remained optimistic for the resurgence of travel and equally steadfast in our efforts to invest in high-quality hospitality assets that will outpace competitors. We were investing in the depths of COVID because we had conviction around certain assets and markets that were mispriced despite the global economic challenges.

"As one of the most active hospitality investment firms during the COVID period, we believe that the challenges in the industry created phenomenal entry points for investments and our team did an extraordinary job acting on those opportunities."

Wurzak concludes: "Our firm possesses years of experience in contrarian investing at the early points of new real estate cycles, and we consistently have the confidence and vision to identify compelling investment opportunities during periods of heightened volatility and uncertainty."

Charles Paloux, EVP Investments, added: "We have significant access to dry powder, and are able to quickly deploy capital in this current environment which distinguishes us from many other vertically integrated firms. We believe there have been permanent shifts following COVID and are actively targeting new investments of quality assets in high barrier to entry markets with a focus on the diversity of demand."

To achieve its growth goals, DoveHill has recently launched its Deal Reward Program, an innovative approach to sourcing new acquisitions. The Deal Reward Program offers DoveHill "deal partners" a fee of up to 50 basis points in addition to the seller-paid commission for sourcing and underwriting new investments. This means that if a consultant brings in a $50M deal, he/she may earn a $250,000 fee. The Program also offers consultants the option of contributing capital and co-investing in the deals they source.

DoveHill Capital Management

DoveHill Capital Management is headquartered in Fort Lauderdale, Florida, and 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 with a heavy concentration 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 with a focus on value-add and other strategies to enhance properties and create differentiated advantages. As part of its strategic vision, after investing at attractive entry points, DoveHill works to reposition and transform the real estate asset in order to enhance the value for its partners and investors.

For more information and details on the best investment opportunities to consider, see www.dovehillcos.com/deal-reward-program.

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

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

Related Links
https://www.dovehillcos.com/

SOURCE DoveHill Capital Management, LLC