Head of The Peebles Corporation to launch $350M REIT

Don Peebles, head of development giant The Peebles Corporation, plans to launch a $350 million real estate investment fund.

Peebles began raising capital for the fund, which will invest in Peebles’ own projects as well as developments by “emerging mid-sized developers” in several major U.S. cities, including New York.

The fund, which will solely provide equity and raise capital from institutional investors, is set to launch in the second or third quarter of 2015.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

While the Peebles Corporation generally focuses on larger projects with a price tag of more than $100 million, the new fund will scoop up smaller deals.

Suggested Articles

U.S. occupancy has risen week over week for 15 of the last 16 weeks, although growth in demand has slowed.

A strong balance sheet and the appeal of drive-to destinations is giving the company's leaders reasons for hope.

Hyatt Hotels Corporation hailed Q2 recovery in China and South Korea, but added that demand was building more slowly elsewhere.