TriGate Capital Completes Acquisition of Southeast Hotel Loan Portfolio
DALLAS, TEXAS –TriGate Capital, LLC closed on the acquisition of a portfolio of hotel loans on December 17, 2020. The loan portfolio is backed by seven select service and independent hotel properties in the southeast United States, and was acquired at an attractive yield to facilitate a year end close for the seller. The seven hotels are well positioned within its target markets across Georgia, Florida, and North Carolina. Each of the hotels securing the loans are of high-quality construction with major brand representation.
Matt Rooney, Vice President at TriGate Capital, commented “the loan portfolio is representative of TriGate’s investment strategy to buy loans and assets at discounts to replacement cost. We were able to navigate the complexities of a loan sale transaction and provide the seller certainty of execution.”
About TriGate Capital
TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States. TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization.
TriGate manages four fully discretionary real estate funds, TriGate Property Partners, LP (Fully Realized), TriGate Property Partners II, LP (Fund II), TriGate Property Partners III, L.P. (Fund III), and TriGate Property Partners IV, LP which are the vehicles through which TriGate conducts its investment strategy. Fund II and Fund III are fully invested, and Fund IV is presently in its investment period.