Monday, 1 September 2014
Last updated 3 days ago
Jan 14 2008 | 12:21pm ET
RLJ Development, the largest African-American hotel investment firm in the U.S., has closed its third private equity real estate fund with $1.2 billion in commitments.
The RLJ Real Estate Fund III will seek to buy and develop upscale service hotels in major metropolitan areas. The Bethesda, Md.-based firm plans to use upwards of three-times leverage, and will focus on using “premium brands.” RLJ Development, which is led by BET founder and Charlotte Bobcats owner Robert Johnson, is already one of the largest Marriott franchisees in the U.S.
“We are proud to close our third fund and delighted with the overwhelming response from the institutional investment community,” Johnson said. The fund boasts 16 institutional investors as clients, including the General Electric Pension Trust and General Electric Real Estate Equities.
“Our mission is to deliver superior risk-adjusted returns for our investors with a highly-focused investment strategy,” Thomas Baltimore, president of RLJ Development, said. “The backdrop of a slowing economy and tighter credit should create attractive buying opportunities for our well-capitalized firm.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...