Rami Zeidan, CEO and founder of Life House
NEW YORK CITY—Life House, a New York-based hotel brand and management startup company, received $100 million in equity from Blue Flag Partners, a real estate investment firm based in Boston. With debt, this will deliver buying power to acquire $250 million to $300 million of hotel real estate, according to Bryan Dunn, Life House, VP, acquisitions.
Blue Flag has committed to investing this latest funding to acquire seven to 10 hotels in an exclusive partnership with Life House. Together they are targeting opportunities in high-barrier-to-entry seasonal markets such as in the Hamptons and the Hudson Valley, in NY; Martha's Vineyard, MA; Stowe, VT; Newport, RI; Aspen, CO; Jackson, WY; Carmel-by-the-Sea, CA; Palm Beach, CA and St. Barths, in the Caribbean. Their strategy will focus on smaller, 50 to 125-key boutique hotels.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
