Investments
JF Capital Advisors has expanded its business into hotel investments.
In August 2006, we acquired two Doubletree hotels in Dallas and Denver
in connection with GoldenTree Insite Partners and Aimbridge Hospitality.
In October 2006, we finalized a joint venture agreement to pursue
ground-up development of Starwood's new aloft by W Hotels brand with
Hillwood Investments, Aimbridge Hospitality, and Champ Hospitality. In
April 2007, we announced a joint venture with Apollo Real Estate
Partners and Aimbridge Hospitality to acquire publicly- traded Eagle
Hospitality Properties Trust, which owns 13 hotels in the US and Puerto
Rico. In July 2007, we acquired a portfolio of six hotels (four
Doubletrees and two Wyndham Gardens) in connection with GoldenTree
Insite Partners and Aimbridge Hospitality.
Doubletree Hotel Dallas-Campbell Centre
The Doubletree Hotel Dallas-Campbell Centre is a 300-room hotel located
in the vibrant North Dallas business district just off of US-75, with
easy access to dozens of regional and national corporations, downtown
Dallas, the Richardson Telecom Corridor and the renowned North Park
Mall. JF Capital Advisors purchased the property in August 2006 as part
of a joint venture with Goldentree InSite Partners and Aimbridge
Hospitality. The partnership has made significant capital improvements,
and has implemented a series of operational changes which enhanced the
customer experience and improved the hotel's financial performance.
Doubletree Hotel Denver-Southeast
The Doubletree Hotel Denver-Southeast is a 248-room hotel located along
the I-225 corridor, in an area currently undergoing a major
revitalization due to the nearby $3 billion Fitzsimmons Medical Center
project. Acquired at the same time as the Doubletree Hotel
Dallas-Campbell Center, in August 2006, JF Capital Advisors likewise
acquired this hotel as part of a partnership with Goldentree InSite
Partners and Aimbridge Hospitality.
Joint Venture to Develop "aloft by W Hotels"
JF Capital entered into a joint venture to develop aloft hotels, a new
brand that embodies a unique vision of upscale lodging. Stylish,
affordable, and appealing to both business and leisure travelers, the
new aloft hotel concept will offer a guest experience currently
unavailable through traditional brands. JF Capital and its partners have
already acquired four sites (Plano, Frisco, Las Colinas, and San
Antonio). Several more are in various stages of pre-development. The
partnership expects to open its first three hotels in 2008.
Midwest Hotel Portfolio
The Midwest Hotel Portfolio is comprised of six full-service hotels,
four Doubletree and two Wyndham Garden hotels, encompassing a total of
1,027 rooms. The hotels are located throughout the U.S., in Kansas,
Illinois, Michigan, North Carolina and Wisconsin. In July 2007, JF
Capital Advisors LLC, acquired this portfolio in partnership with
GoldenTree Insite Partners and Aimbridge Hospitality L.P.
Eagle Hospitality Properties Trust Portfolio
Eagle Hospitality was a publicly traded hotel REIT which owned 13
full-service and all-suite hotels encompassing a total of 3,516 rooms
and premier brands including Hilton, Embassy Suites, Marriott and Hyatt.
The hotels are located throughout the U.S., in Arizona, California,
Colorado, Florida, New York, Kentucky, Ohio, Illinois, Massachusetts and
Puerto Rico. In August 2007, JF Capital Advisors LLC, acquired this
company in partnership with Aimbridge Hospitality L.P., and Apollo Real
Estate Investment Fund V L.P.