Hospitality Funding Grows 50-Million Equity Joint Venture
Palm Beach, FL — Hospitality Funding continues its successful work with Waramaug Hospitality with its most recent equity raise for Waramaug’s acquisition of the Comfort Suites near the new Cowboys Stadium in Arlington, TX. The property is the latest addition to the growing portfolio of the $50mm equity joint venture that Hospitality Funding arranged between Waramaug and a US-based investment management firm. Management of the hotel has been transferred to Interstate Hotels and Resorts, Inc.
When assessing the transaction, Hospitality Funding and Waramaug Hospitality considered the following:
- Located minutes from Cowboys Stadium, Rangers Ballpark, Six Flags Theme Park and Waterpark, Arlington Museum of Art, Arlington Convention Center, Shopping, Dining and Entertainment.
- The 108-room Hotel features a fitness center, outdoor swimming pool, playground, business center, and a 1155 sq. ft banquet/meeting room.
Of the company’s recent success, Hospitality Funding’s Chairman Scott Silver said, “With its strong demand drivers, Arlington is a market we’ve had our eye on. We are excited to have facilitated this acquisition for Waramaug, where we’re confident that they can have a positive impact on a quality asset.”
About Hospitality Funding: Hospitality Funding is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior owners to find capital solutions that fit their specific goal for property acquisition, development and refinance. For more information, please visit www.hospitalityfunding.com.