Select Service Hotel Portfolio
Client – Waramaug Hospitality (In conjunction with Hospitality Funding LLC)
Engagement: Capital Raise (Debt and Equity) and Acquisitions (Active)
Total Capitalization – $150MM
Capital Raise: Successfully raised $100MM of programmatic debt from a regional lender and raised $50MM of equity from a private equity firm in mid-2013. Capital raise allows Waramaug Hospitality (“Waramaug”) to acquire select service hotels in secondary and tertiary markets across the United States. Multiple hotels have been acquired and Waramaug continues to look for new opportunities.
Acquisitions: Post capital raise, engaged to provide Waramaug with underwriting and due diligence services. Interact with brokers, operators and owners to evaluate and underwrite acquisition opportunities across the United States. Successfully acquired hotels in Kentucky, Louisiana, Texas, Colorado, Wisconsin, and Florida.