JV Partners Ink $211M Deal To Purchase 20 Marriott, Hilton Resorts

Law360 (August 9, 2021, 6:59 PM EDT) — Luxury vacation resort and lodge owner Flynn Houses Inc. and distressed asset financial investment company Värde Associates mentioned Monday they have entered into a $211 million joint venture to buy 20 Marriott and Hilton branded houses around the U.S. from actual estate investment rely on Apple Hospitality REIT.

The buyers reported they are acquiring 11 Marriott and 9 Hilton branded spots, all of them “find provider” resort homes with confined facilities that have executed very well all through the COVID-19 pandemic. The 20 accommodations, which will endure capital enhancements in excess of time, are found in the Sunbelt, Northeast, Pacific Northwest and Midwest, in accordance to the JV companions….

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