A joint venture to acquire more than $1 billion of value-add and distressed hospitality and housing assets in major US cities has been formed by global alternative investment firm Värde Partners and Hawkins Way Capital.
The assets will operate under a Hawkins Way affiliate.
The joint venture makes sense because there is a significant opportunity to acquire properties at attractive prices with the market of unfulfilled and growing consumer demand and the limited supply of affordable lifestyle hospitality and residential products in the center of US gateway cities, Francisco Milone, partner at Värde Partners said.
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