The former Major League Baseball star Alex Rodriguez, and his partner, serial investor Adi Chugh who is also founder of Maverick CP, are among the first investors in CGI Merchant Group's new $650 Hospitality Opportunity Fund.
A-Rod Corp and Maverick CP joined forces earlier this year to expand their portfolios and build a large commercial real estate platform across various asset classes. As part of the agreement, Rodriguez and Chugh will assist in the acquisition of trophy investments for the hospitality fund as well as promote the firm's co-investment platform and its flexible and multi-use office portfolio.
"CGI's visionary and conscious approach to business has the potential to transform the commercial real estate industry, bringing in untapped voices that can inject new energy and ideas to ignite vast opportunities," said Rodriguez.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
