TriGate Capital Purchases Embassy Suites Hotel with TCOR Hotel Partners in Baltimore, MD
DALLAS, TEXAS – TriGate Capital recently completed the acquisition of the 251-suite hotel. The hotel is located within 3 miles of BWI Airport, in Linthicum, MD, which is undergoing an expansion as domestic and international flights grow at the airport. The hotel was renovated in 2017 and TriGate plans to spend additional capital to refresh the rooms and common areas.
TriGate’s Vice President, Matt Rooney, commented, “The hotel’s location and amenities package offers the ability to target not only airport travelers but those within the defense and government sectors. With the right management focus, the hotel will be better positioned to take advantage of the passing of a new defense budget that has led to significant employment growth in the area.”
Bradley Burwell, Ron Danko, and Spencer Davidson of CBRE marketed the hotel on behalf of the seller.
About TriGate Capital
TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States.
TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period.
TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.