Acore Capital, a global credit manager focused exclusively on commercial real estate lending, has raised $1 billion to launch Acore Hospitality Partners. The new investment strategy, backed by a group of institutions, is focused on providing North American hotel operators with rescue capital to navigate the ongoing COVID-19 pandemic.
AHP’s strategy is to originate and acquire structured hotel debt investments, including senior and mezzanine loans, B-notes and preferred equity. AHP will invest across the entire spectrum of hotel types, ranging from high-end luxury resorts to smaller limited-service hotels, focusing on assets in high-barrier markets and with compelling rebound characteristics.
“The pandemic has had a disproportionate and historic impact on the lodging industry leading to unprecedented distress and liquidity issues for hotel owners,” said Warren de Haan, managing partner at Acore. “We formed Acore Hospitality Partners to solve this liquidity crisis by providing hotel owners with the capital they require to continue operations and keep people working.”
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