Acquisition of The Diplomat wins Transaction of the Year for deals over $25 million
LOS ANGELES–(BUSINESS WIRE)–Trinity Investments, a leading investor in U.S. hospitality, announced today that a Trinity-led joint venture received the 2023 Transaction of the Year Award for deals over $25 million at the 2024 Americas Lodging Investment Summit (ALIS), one of the region’s largest hotel conferences, for its acquisition of The Diplomat Beach Resort (“The Diplomat”) in Hollywood, FL. The $835 million acquisition of the 1,000-room hotel was the third largest single-asset hotel sale ever in the United States and highlights Trinity’s proven investment approach and growing presence in the hospitality sector. The transaction closed in February 2023.
“Our acquisition of The Diplomat is representative of Trinity’s ability to invest in high-quality assets at any point in the market cycle, and I’m exceedingly proud of the track record and momentum we’ve built over the past several years,” said Sean Hehir, Managing Partner, President, and CEO of Trinity. “The Diplomat is a prime example of the type of investments we seek to make and is testament to our growing presence as a leading hospitality investor.”
In October 2023, Trinity announced the opening of its London office under Managing Partner Ryan Donn. The global expansion followed an active year for Trinity, which, in addition to acquiring The Diplomat, secured approximately $1.2 billion in combined refinancings for its existing portfolio assets.
For updates on Trinity’s investment activity, follow Trinity on LinkedIn.
About Trinity Investments
Trinity is a vertically integrated real estate investment firm specializing in hotels and resorts with a focus on value-add opportunities in world-class markets. Trinity has offices in Honolulu, Beverly Hills, and London. As of December 2023, Trinity has invested more than US $9 billion in the United States, Mexico, Europe, and Japan by leveraging its deep institutional knowledge and longstanding local relationships. For additional information, please visit Trinity’s website at www.trinityinvestments.com. For updates on Trinity’s investment activity, follow Trinity on LinkedIn.
About the Award
The ALIS Single Asset Transaction of the Year Award recognizes a hotel or resort in which more than a 50 percent ownership stake has been acquired in the Americas region between January 1, 2023 and December 31, 2023.
Contacts
Trinity Media
Kris Cole / Carlin Pappas
Prosek Partners
[email protected]
