Kimpton Closes $203M Hotel Investment Fund

SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that locally based Kimpton Group Holding LLC, the parent company of Kimpton Hotel & Restaurant Group LLC, has closed its fourth institutional real estate fund and its third fund within the Kimpton Hospitality Partners series. KHP Fund III LP has $203 million in committed equity capital with the goal of acquiring more than $500 million worth of hotels over the next three years.

“Raising capital for real estate investment has been more challenging than ever over the past few years, which is why we are especially proud to announce the close of this new fund,” explains Kimpton CEO Mike Depatie. “The discretionary nature of our fund provides us a distinct advantage in acquiring properties because we are able to offer sellers and developers a quick and certain close, something that few others can match.”