Global private markets firm Partners Group will acquire a strategic minority stake in Trinity Investments with an initial target of $500 million.
There will be future opportunities for Partners to further invest in Trinity's North American, European and special situations investment platforms, according to a news release.
“We are investing in real estate operating companies in order to gain vertical depth in sectors and geographies where we have strong thematic conviction," said Jason Longo, member of management, Real Estate Americas, at Partners Group. "Trinity has nearly three decades of experience in the hotel real estate asset class and that depth of knowledge shines through. We believe Trinity’s value-add approach closely matches our focus on value creation. Through our more integrated relationship, we will build platforms that could unlock attractive returns for our clients."
Trinity and Partners have worked together in two prior deals. Their first joint-venture acquisition was in 2022 with the 427-key Las Colinas Resort in Dallas, now rebranded to the Ritz-Carlton Dallas, Las Colinas, for an undisclosed price. Most recently, the two companies bought the 404-key Scottsdale Plaza Resort & Villas for $124.3 million in early April, according to CoStar data.
Partners has committed to investing alongside Trinity to continue to build a preeminent global hospitality program together, said Sean Hehir, managing partner, president, and CEO of Trinity.
“We see an abundance of opportunities to deploy our sophisticated platform for hotel real estate, repositioning, operation and asset management into new hotel assets and credit investments both in North America and abroad,” he said.
In an interview earlier this year, Craig Lovett, senior vice president of development at Trinity, told HNN his company is chasing deals where it can add value to hotels and resorts.
"We see opportunities certainly in the marketplace of assets like that where existing owners haven't got the sophistication or the risk profile to take on such a refurbishment burden, which is perfect for us; that's exactly what we want. That's what we run towards not run away from," he said.