Electra America Hospitality Group—a joint venture between Electra America and AKA—has closed the Electra America Hospitality Fund I. The fund, launched in February 2021, exceeded its target of raising $500 million from investors.
EAHG Fund I is focused on the opportunistic acquisition of independent hotels in major gateway markets with strong growth potential. Commitments to the fund came from both domestic and foreign institutional and HNW investors.
“Electra America Hospitality Group remains highly focused on exceptionally well-located assets in gateway markets where distress or another combination of factors has created an opportunity to acquire a unique hotel asset at a significant discount,” EAHG CEO Russ Urban said in a statement. “Our best-in-class operating partner AKA, the leader in luxury, multi-night stay lodging, will then transform these properties into the best-in-class product in their respective submarkets.”
EAHG continues to source opportunities in other major markets including southeastern Florida, southern California, Boston, Austin, Nashville, and London, along with additional properties in Miami, New York City and Washington, D.C.