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BUYS INTO REOF LLC + BUYS ADDITIONAL SHARES

REOF is the instrument buying these 5 hotels

'''JLL closes sale of courtyard by Marriott hotel portfolio

The buyer is entering the hotel market with this 5-property acquisition'''

August 15, 2019

DALLAS, August 15, 2019 – JLL announced today that the sale of a hotel portfolio consisting of five Courtyard by Marriott hotels totaling 731 rooms in San Antonio, Baltimore and Washington, D.C. markets has closed.

JLL marketed the property on behalf of the seller, Colony Capital, Inc. A partnership between Flynn Properties Inc. and EMA Lodging Group, Inc. purchased the assets. Flynn Properties Inc. is entering the select-service hotel market with this five-property acquisition.

The hotels, which have been institutionally owned and Marriott-operated over the last decade, are well positioned in established markets with exceptional access to a wide mix of demand generators. The portfolio comprises two properties in San Antonio, Courtyard San Antonio Airport and Courtyard San Antonio Medical Center, and two suburban Washington, D.C. locations, Courtyard New Carrollton Landover in Landover, Maryland, and Courtyard Fairfax Fair Oaks in Fairfax, Virginia. The portfolio has one Baltimore-area property, Courtyard Baltimore Hunt Valley in Hunt Valley, Maryland.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

jll.com.

Colony Capital, Inc. (NYSE: CLNY) is a leading global investment management firm with assets under management of $55 billion, which includes approximately $14 billion of assets under management from Digital Bridge, a leading global investment manager of digital infrastructure assets including cell towers, small cells, fiber and data centers. The Company manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, and traded and non-traded real estate investment trusts. The Company has significant holdings in: (a) the healthcare, industrial and hospitality property sectors; (b) Colony Credit Real Estate, Inc. (NYSE: CLNC) and NorthStar Realty Europe Corp. (NYSE: NRE), which are both externally managed by subsidiaries of the Company; and (c) various other equity and debt investments. The Company is headquartered in Los Angeles

www.clny.com.

https://www.us.jll.com/en/newsroom/jll-closes-sale-of-courtyard-by-marriott-hotel-portfolio

Flynn Properties Inc. is part of San Francisco-based Flynn Holdings. The firm has substantial experience in the acquisition, management and financing of commercial properties with a focus on hotel and office investments. Flynn Properties has owned in excess of three million square feet of commercial real estate. It also owns, in partnership, the luxury resorts Esperanza (located in Los Cabos, Mexico), the Carneros Resort and Spa and Solage (both resorts located in the Napa Valley of California), and the Hotel Madeline (in Telluride). The firm also operates Flynn Restaurant Group. With over 1,245 restaurants and $2.3 billion in annual sales, Flynn Restaurant Group is the largest restaurant franchisee, and one of the 20 largest foodservice companies of any kind in the United States. The company directly employs over 48,000 people in 33 states across the US. For more information about Flynn Holdings, please visit www.flynnholdings.com.

EMA Lodging Group invests as an owner primarily in value-add hotel opportunities and provides a full suite of lodging real estate advisory services. The Dallas-based firm was founded by hospitality veterans Mike DeNicola, Erik Nylen and Andy Welch, offering an average experience of 35 years in the space. Visit www.emalodginggroup.com to learn more.

PELSI INVESTMENT

REOF LLC BUYS 5 HOTELS

https://www.bizjournals.com/sanantonio/news/2019/08/12/bay-area-investor-buys-local-hotel-portfolio.html

Bay Area investor buys local hotel portfolio

San Francisco-based Flynn Properties, a subsidiary of Flynn Holdings, has entered the San Antonio market with the purchase of two Courtyard by Marriott hotels, according to public deed records. While no price was given, the 293-room portfolio was last assessed for $21.6 million by the Bexar County Appraisal District. The hotel at 8585 Marriott Drive near the Medical Center has 148 rooms, and the other at 8615 Broadway St. has 145 rooms. The deal was part of a larger five-property, 731-room portfolio, which also included three Courtyard by Marriott hotels in the Washington-Baltimore area. Irving-based EMA Lodging Group Inc. partnered in the deal with Flynn. All five hotels were sold by Los Angeles-based real estate investment trust Colony Capital Inc.

Flynn Holdings is a diversified real estate company, with a portfolio including more than 1,245 Applebee’s, Taco Bell, Panera and Arby's restaurants under its Flynn Restaurant Group, and multiple luxury hotels under Flynn Properties. Flynn Properties also owns an office property outside Sacramento, California, and previously owned a dozen office properties in San Francisco.

Portfolio of Courtyard by Marriott Hotels Sold for $41Mln

August 22, 2019in General News

https://crenews.com/2019/08/22/portfolio-of-courtyard-by-marriott-hotels-sold-for-41mln/

A venture of Flynn Properties and EMA Lodging Group has paid $41 million, or $56,088/room, for five Courtyard by Marriott hotels with 731 rooms in Maryland,…

SF-based investor hot on Texas commercial property. Here's what he's looking for

https://www.bizjournals.com/sanantonio/news/2019/08/14/sf-based-investor-hot-on-texas-commercial-property.html

San Francisco-based Flynn Properties entered the San Antonio market this month with the purchase of two Courtyard by Marriott hotels. And the company's founder, Greg Flynn, told the Business Journal this week that he's looking for more deals in Texas.

The two San Antonio properties were part of a larger portfolio deal that included five Courtyard by Marriott hotels, with the three others being in the Washington-Baltimore area. While the entire purchase price was not disclosed, Flynn Properties, a subsidiary of Flynn Holdings, took out a $41 million transitional loan from Larkspur, California-based Acore Capital, as confirmed by an Acore Capital spokesperson. The 293-room local portion of the portfolio was last assessed for $21.6 million by the Bexar County Appraisal District.

Flynn has never owned property in Texas before this recent deal, despite Flynn Holdings being a franchisee for more than 1,245 Applebee’s, Taco Bell, Panera and Arby's restaurants under its Flynn Restaurant Group, and Flynn Properties owning multiple luxury hotels and office buildings across the country and in Mexico."We own property and franchises in over 30 states, but have never owned anything in Texas or Florida, which are just huge markets right now. It’s just the way it happened. With that said, I’m very happy to own something in Texas finally. The state has attractive demographics and great job growth. I always wanted to own something there but just never came across the right opportunity," Flynn said.

While Flynn is close to closing on a $75 million office building in San Francisco, he said his investment appetite in Texas is for two other types of property."Right now, I’m most interested in select service hotels in Texas and restaurant opportunities. That could mean developing a restaurant under a brand we already work with, or expanding into new brands. With that said, Texas is a very attractive economic environment and is very business friendly. It’s a market I want more exposure to," Flynn said.

The San Antonio hotel market finished 2018 with increases in occupancy, average daily room rates and revenue per available room, or RevPAR, according to an April hotel report by CBRE. Occupancy rates were up 1.6% with a 3.7% gain in average daily room rates resulting in an overall 5.3% boost in San Antonio’s RevPAR, far higher than the national average of 2.9%. The report predicted continued growth for the local hotel market in 2019.So far this year, 20 San Antonio area hotels and motels have been sold to various buyers. Some of them have been in the select service category.

LOOKKEE

Pelosi invests in REOF LLC

'''REOFF is an investment instrument that is part of Flynn Group purchase of 5 ex Marriot Courtyard hotels.

Flynn Group borrows 41 million from ACORE CAPITAL to 100% finance the deal'''

Now you can see how the swamp works…see

ACORE CAPITAL who 100% financed 41 million deal for 5 hotels.

Acore Capital LP, a subsidiary of Tokio Marine Holdings, Inc., is a company headquartered in Larkspur, CA, that provides investment advice.The company says this about itself: ACORE Capital, LP is a commercial real estate finance company focused on originating, acquiring and managing first mortgages, B-notes, mezzanine debt and preferred equity throughout the United States. ACORE, which is an acronym for Alpha Commercial Real Estate, specializes in providing borrowers with customized financing solutions at competitive rates and flexible terms. For investors, ACORE is focused on generating alpha through attractive commercial real estate debt investments coupled with superior risk management. ACORE is led by commercial real estate finance veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan.

Boyd Fellows Founder and Managing Partner Acore Capital previously on board of Starwood Trust

'''"If the Democrats take the Senate and the White House, there is a much higher probability that stimulis will be created to help the states and cities that are in very deep trouble with their deficets That will be a silver lining. As a result the return to urbanization is likely to happen sooner if the left wins. If the right wins, you will see protracted pain in the cities, making them less attractive to live in for a longer period"

'''

See how it works? This guy is all in for Democrats so they create public debt to pile into poorly managed often corrupt Democrat cities, making urbanization faster and property prices increase faster. This is a cycle of waste, fraud, crime and abuse. The Democrats let the cities turn to shit, scream loudly then when they have power pile public debt back in gentrify kick out all the poor and cash in.