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Wednesday, Dec 6, 2023

Investment Firm Expands Into Europe

This article has been revised and corrected from the original version.

Trinity Real Estate Investments LLC, a hospitality real estate investment firm with offices in Beverly Hills and assets in Los Angeles, expanded into Europe last month with the launch of a new London office and unveiled plans to invest in hotel properties across western Europe.

Like seemingly every American who ventured to the continent when revenge traveling was hot, Trinity aims to capitalize on the “destination” rich geography: cities with high rates of tourism and group travel accommodations.

After raising a $520 million general partner fund during the Covid-19 pandemic and building its U.S. portfolio to $5 billion in assets, the firm says it is focusing on the most highly sought-after markets in countries such as the United Kingdom, Spain, Portugal, Italy and Switzerland. London will become the company’s headquarters for the region as it expands its market presence, spearheaded by managing partner Ryan Donn.

The decision to set up shop across the Atlantic comes on the heels of some large deals for the company. Earlier this year Trinity acquired the Diplomat Beach Resort in South Florida for $835 million, the largest hotel deal in the U.S. in three years. This summer, Trinity extended its joint venture with downtown-based private equity firm Oaktree Capital Management through a $515 million refinancing deal for The Westin Maui and Spa, Ka’anapali in Hawaii.

Through partnerships with firms like Oaktree, Trinity carved a niche in hospitality real estate by investing roughly 30% of equity in deals while private equity invested the balance.

According to Sean Hehir, Trinity’s president and chief executive, these relationships pushed the company to expand beyond the U.S.

“These same partners have been asking us for a number of years to come over to Europe,” Hehir said. “And we see a lot of the same fundamentals in Europe that we see here.”

While Hehir didn’t disclose specifics, he confirmed the firm is closing in on its first deals in Western Europe.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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