Real Estate Private Equity
SOMA
Description
BRP acquired a portfolio of 4 hotels, totaling 308 rooms, located along Seventh Street at the corner of Mission Street in the South of Market District ("SOMA") in San Francisco , California.
Thesis
BRP selected Joie de Vivre Hospitality ("JDV"), a very highly regarded hotel operator and the largest boutique hotel company in Northern California, to improve and manage the Portfolio. With JDV's expertise, BRP renovated and repositioned the hotels in order to substantially increase average daily rates.
Equity Investment
$15.6 million