ATLANTA, Ga., July 29, 2013—Peachtree Hotel Group, one of the
nation’s fastest growing hotel acquisition, management, development and
ownership groups, today announced that it invested more than $50 million in
seven hotels during the 2013 second quarter and is on track to exceed its 2013
acquisition and investment goals before the end of the third quarter.
 |
| Greg Friedman |
“Our
first quarter activity included the acquisition of six assets, while the second
quarter was dominated by note purchases and direct loan originations” said Greg
Friedman, Peachtree CEO.
“We set a 2013 goal of growing our total portfolio by 15
assets, and at the mid-point of the year, we have outpaced our own aggressive
plan.
“Our ability to invest in all levels of the capital stack;
equity, senior debt, mezzanine, etc. enables us to fully participate in this
volatile market. We continue to have a healthy appetite for all areas of
engagement and have both the financial capacity and the professional
capabilities to continue executing at this pace.”
 |
| Jatan Desai |
Jatin Desai, chief investment officer, noted that the
company already has three hotels under contract with closings scheduled for Q3;
a Fairfield Inn & Suites and two Hilton Garden Inns.
For a complete
copy of the company’s news release, please contact:
Lauralee Dobbins or
Chris Daly, media
(703) 435-6293
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