JUNE 4, 2019 – Phoenix American Hospitality, a Dallas-based opportunistic hotel fund manager, has successfully closed its $50 million REG D offering, American Hospitality Properties Fund III, LLC.
The American Hospitality Properties Fund III, LLC was created with a focus on identifying and acquiring limited and upscale select service hotels in the United States which provide cash flow and value-added opportunities for the company.
“The closing of this fund is an important milestone for Phoenix American Hospitality and reflects on our team’s professional experience in investments and ability to produce results” said Perch Nelson, President and Chief Executive Officer of Phoenix American Hospitality. “We will continue to focus on acquisition and management opportunities to expand our ever-growing portfolio.”
The American Hospitality Properties Fund III, LLC acquired 17 upper midscale and upscale hotels in the United States which have a strong brand affiliation. The group of Hyatt, Marriott and Hilton brand hotels include:
- Aloft Rogers-Bentonville
- Courtyard by Marriott Baton Rouge Siegen Lane
- DoubleTree by Hilton Charlotte Airport
- Fairfield Inn & Suites Jonesboro
- Hampton Inn & Suites Fort Myers Beach/Sanibel Gateway
- Hilton Garden Inn Fort Wayne
- Homewood Suites by Hilton Fort Wayne
- Hyatt Place Atlanta/Alpharetta/North Point Mall
- Hyatt Place Charlotte/Arrowood
- Hyatt Place Dallas/Park Central
- Hyatt Place Greenville/Haywood
- Hyatt Place Roanoke Airport/Valley View Mall
- Hyatt Place Topeka
- Residence Inn by Marriott Baton Rouge Siegen Lane
- Residence Inn by Marriott Cape Canaveral Cocoa Beach
- TownePlace Suites Fayetteville North/Springdale
- TownePlace Suites New Orleans Metairie