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In Mixed Period for Hotel Sector, Procaccianti Launching REIT

September 27, 2017

In Mixed Period for Hotel Sector, Procaccianti Launching REIT

September 21, 2017 | Mark Heschmeyer | CoStar.com

Hotel, bell, hospitality.

Rhode Island-based Procaccianti Cos., owner of TPG Hotels & Resorts, is forming a new nontraded REIT to expand its hotel investments. 

The move comes at a time when lodging REITs have fallen a bit out of favor with investors, even as hotels continue to grow occupancy and room rates. 

According to its initial filing, Procaccianti Hotel REIT will seek to acquire a diverse portfolio of existing select-service, extended-stay, and compact full-service hotel properties. It may also make investments in distressed debt and preferred equity with the intent to acquire the hotel properties underlying those investments. 

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
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