Hospitality Investments - Austin, Texas and San Francisco, California
My company is developing two new hotels in 2019 both with major flags. The first being in Austin, Texas on Congress Street near the Capital and the second in downtown San Francisco between the Moscone Center and the new Salesforce Tower. The two projects have been in pre-development for several years and are fully entitled with final design underway and general contractor selection taking place now. Austin will require about $40M (Summer 2019) in equity and San Francisco will require about $50M (Fall 2019).
My company along with our existing family office network will be putting in a substantial amount of equity. Both properties will be long term holds (10-15+) years and focused on long term cash flow. We have been in the hospitality business for 20 years and have a very strong track record. I am posting on the FOX Direct Investing Network for the first time to see if other family offices have interest in discussing these opportunities. Minimum investment will be $1M but $5M+ would be preferred. Detailed information is available upon request.
Our family office is embedded into our operating company which is a real estate development and investment headquartered in Denver, Colorado with about 150 employees. We have been in business for 25 years and manage a diverse portfolio of real estate with $2.5B AUM. The portfolio includes 15 hotels, 2,000+ apartments and a lot of office and industrial properties. Assets are located in Colorado, California, Portland and Boston. We are long term owners of real estate where we focus on high quality real estate, attractive basis, long term reoccurring cash flow, asset appreciation and being very tax efficient. We have successfully grown our business by working with family offices who appreciate our business model.