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Trinity, Oaktree Launch $3B Hotel JV

Having already partnered on an acquisition from Starwood Hotels, Trinity Investments and Oaktree Capital Management plan more lodging investments in Trinity's core markets here and abroad.

By Paul Bubny | paulbubny | Updated on August 21, 2017

Exterior of hotel Terinity and Oaktree partnered on the acquisition of the Westin Maui Resort & Spa this past April.

HONOLULU and LOS ANGELES—Lodging specialist Trinity Investments LLC has formed a joint venture with funds managed by Oaktree Capital Management LP that will invest up to $3 billion in hotel properties in Trinity’s core markets: Hawaii, California, Mexico and Japan. The JV will seek to invest alongside global institutional and high net worth partners in these markets.

Trinity, headquartered in Honolulu, and Los Angeles-based Oaktree recently partnered on the acquisition of the the long-term leasehold interest in The Westin Maui Resort & Spa from an affiliate of Starwood Hotels & Resorts. The deal, announced in April, was valued at $317 million, according to Real Capital Analytics data. Trinity has made about $600 million of investments in Hawaiian lodging properties since last fall.

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