Global credit manager ACORE Capital has raised $1 billion to launch a hospitality-focused rescue capital fund, marking the latest entrant into such investment strategies for the troubled hotel sector.
ACORE Hospitality Partners will focus on providing North America hotel operators with rescue capital to weather the ongoing COVID-19 storm. It plans to originate and acquire structured hotel debt investments, including senior and mezzanine loans, B-notes and preferred equity, and will invest across the asset class, from high-end luxury resorts to smaller limited-service hotels. AHP will focus on assets in high-barrier markets, the company said.
ACORE has originated over $4.2 billion of hospitality investments since 2015.
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