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NEW YORK CITY- Highline Real Estate Partners has launched Highline Hospitality Partners, a new real estate platform that sponsors and invests in full- and select-service hotels and resorts. Highline Hospitality Partners is the first of multiple Highline investment platforms focusing on specific segments of the real estate industry. Each platform is comprised of expert operations and investment teams and represents a unique operations-oriented approach to real estate investing.
Former Garrison Investment Group executives Chuck Pomerantz and Todd Roffman created HHP. The investors ran hospitality investments for the private equity fund's real estate group. During their eight-year tenure at Garrison Investment Group, Pomerantz and Roffman grew the portfolio from less than 10 hotels to more than 60 with a market capitalization of over $1.5 billion, executed over $200 million of renovation projects, and sold more than 50 of these hotels generating over $1.1 billion in gross sales proceeds with excellent investment results.
"Highline Hospitality Partners is an excellent example of the investment platforms we plan to build over time, given its laser focus on a single real estate asset class combined with its expert operating capability and broad industry relationships," said Key Foster, president and co-founder of Highline Real Estate Partners, in a prepared statement. "We believe this combination makes us an ideal sponsor and operating partner to achieve attractive results for our investors."
Pomerantz, a managing partner of Highline Hospitality Partners, intends to apply his long-term and diverse operating experience to equip HHP with the judgment, creativity, and the playbook to tackle every hotel type for resistance to different points in the economic cycle, he said in a prepared statement.
"We focus on driving value through an operating agenda tailored to each investment," Pomerantz said.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
