Palm Beach, FL, December 03, 2013 --(PR.com
)-- Hospitality Funding, LLC has raised equity for the acquisition of the Courtyard Lafayette Airport Marriott Hotel in Lafayette, Louisiana by Waramaug Hospitality, LLC. The transaction is the second to be funded through a $50 million equity Joint Venture that Hospitality Funding raised between Waramaug Hospitality and a US-based investment management firm. The Courtyard Lafayette Airport Marriott is located in a bustling market that serves as the retail hub of the five parish Acadiana area and houses one of the top ranked universities in the South - The University of Louisiana Lafayette.
Of the company’s latest closing, Hospitality Funding’s Chairman Scott Silver said, “The acquisition of the Courtyard Lafayette Airport Marriott Hotel in Lafayette, Louisiana is an exciting addition to Waramaug’s portfolio. Lafayette, Louisiana is a hub of retail, entertainment, and education. We couldn’t be prouder to continue our success with our valued partners.”
When assessing the acquisition, Hospitality Funding and Waramaug considered the following:
The 87-room hotel is ideally located just one mile from Lafayette Airport (LFT) and close to area businesses, restaurants, the University of Louisiana Lafayette, and the Haymann Convention Center.
Nearby shopping includes the Mall of Acadiana and Oil Center Shopping Village. Area Hospitals include the Heart of Hospital of Lafayette, Lafayette General Medical Center (LGMC), Our Lady of Lourdes, and the Women and Children’s Hospital.
The property features an indoor pool, new Bistro, and an award-winning staff.
About Hospitality Funding LLC: Hospitality Funding is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Founded in 2006, Hospitality Funding works with superior owner-operators to find capital solutions that fit their specific goals for property acquisitions. For more information, please visit www.hospitalityfunding.com.