Hilton Philadelphia City Avenue
Status
Closed Discounted acquisition of a recently renovated hotel property in Philadelphia with below-market, assumable debt.
Location
Philadelphia, PA
Investment Strategy
Value-Add
Property Type
Hotel / Hospitality
Open To
Accredited Investors
Closed Date
Aug 2023
Investment Strategies
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Sponsor Details
Other Offerings by DoveHill Capital Management
Sponsor Designation
CrowdStreet categorizes sponsors based on their experience and track record so our investors can get a sense of the firm behind the deal.
Enterprise
FIRM AGE15+ YEARS
LEADERSHIP EXPERIENCE30+ YEARS
PORTFOLIO VALUE$5 B +
National Platform
Ranked in the top 250 for estimated value of total holdings per Real Capital Analytics
Tenured
FIRM AGE10+ YEARS
LEADERSHIP EXPERIENCE20+ YEARS
PORTFOLIO VALUE$500 MM +
Leadership has invested together over multiple cycles
Dedicated investor relations and accounting staff
Seasoned
FIRM AGE5+ YEARS
LEADERSHIP EXPERIENCE10+ YEARS
PORTFOLIO VALUE$100 MM +
Network of repeat investors
Established banking relationships
Affiliations with national industry associations ULI, NAOIP, CCIM, SIOR or IREM
Emerging
FIRM AGE< 5 YEARS
LEADERSHIP EXPERIENCE2-5 YEARS
PORTFOLIO VALUE< $100 MM +
Strong leadership experience
Experience in the proposed asset class and geographic market
Experience in managing individual investors
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Investor Equity
$16,294,515
27.7%
Sponsor Co-Investment^
$1,006,426
1.7%
Spon. GP Fund Co-Invest
$1,869,077
3.2%
Senior Debt
$39,600,000
67.4%
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Total
$58,770,016
100%
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On the CrowdStreet platform, offerings are treated pari-passu. |
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