PRLog - Feb. 9, 2014 - TAMPA, Fla. -- TAMPA, Florida: February 8, 2014 - Liberty Group (http://www.libertyg.com/)
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Liberty Hospitality Fund I, LLC was fully capitalized in February 2014, and will deploy $75,000,000 in total capital towards hotel acquisitions over the next three years.
Liberty Group's most recent acquisition of the Holiday Inn Express & Suites in Bonita Springs, Florida represents its 24th acquisition since 2010, and its second investment through Liberty Hospitality Fund I.
Liberty acquired the 108-room hotel in February 2014 through an off-market transaction directly with the Seller for significantly less than replacement cost, and intends to invest in renovations to reposition the asset in mid 2014.
"Access to capital has provided us a distinct advantage in acquiring hotels since we can offer a quick and certain close, something that few buyers can match," said Punit Shah, President & Chief Operating Officer of the Liberty Group. "Liberty Hospitality Fund I allows us to continue expanding our hotel portfolio and creating operational efficiencies that add value to each of our investments."
ABOUT LIBERTY HOSPITALITY FUND I
Liberty Hospitality Fund I, LLC closed in February 2014 and will deploy $75,000,000 in total capital with a disciplined focus on branded upper mid-scale hotels throughout the Southeastern United States. Liberty Group's principals significantly co-invested in the Fund to ensure an alignment of interests and to create performance-
ABOUT THE LIBERTY GROUP
Established over three decades ago, Liberty Group is a vertically integrated hotel investment, development, and management company that prides itself on its proven entrepreneurial and strategic approach to investment placement. Liberty's proactive, integrated approach of continually assessing each investment with regard to its performance, market position, current value, and capital structure allows us to monitor the market and optimize returns. With over $300,000,000 in investments across the United States, Liberty Group demonstrates a proven track record behind successful real estate investment and management.