LOS ANGELES--(BUSINESS WIRE)--RealtyMogul.com, the online marketplace for real estate investing, announced it has successfully helped finance acquisitions of two hotel properties – one in Joplin, Missouri and the other in Memphis, Tennessee. Conor Acquisitions, a Florida-based owner and operator of hospitality properties, is the sponsor of both transactions.
“These transactions mark the first two joint ventures between Conor and RealtyMogul.com, as well as RealtyMogul.com’s first hotel investments in Missouri and Tennessee,” said Jilliene Helman, CEO of RealtyMogul.com. “Conor Acquisitions will handle all aspects of both investments including managing the day-to-day operations, overseeing renovations, and selling the properties, while RealtyMogul.com investors will participate as equity stakeholders and be due their portion of the cash flow and potential asset appreciation.”
“We are pleased to have completed two successful transactions with our partner RealtyMogul.com,” said Dipesh Patel, CEO of Conor Acquisitions. “Our expertise within the hospitality industry will be a significant factor in the successful renovation and repositioning of these hotels.”
The first of the two assets, located on Interstate 44 in Joplin, MO, was formerly a Holiday Inn but will be re-branded as a DoubleTree by Hilton hotel upon completion of a substantial renovation. The second property, a Courtyard by Marriott, is a 96-room limited service hotel in the Route 385 Business Corridor of Memphis, TN. The sponsor intends to hold both properties for five years to execute the business plan before exiting the investments.
RealtyMogul.com raised in excess of $5 million for the two joint ventures. Each investment paired well with the value-add return profile sought by RealtyMogul.com investors.
About RealtyMogul.com
RealtyMogul.com is an online capital marketplace for real estate, connecting borrowers and sponsors to capital from accredited and institutional investors. Through an online platform, RealtyMogul.com gives borrowers access to debt capital, sponsors access to equity capital and investors tools to browse investments, perform due diligence and invest online. RealtyMogul.com offers fix-and-flip loans, bridge loans, permanent loans and joint venture equity. For more information, please visit www.realtymogul.com.
RealtyMogul.com offers equity securities through WealthForge, LLC, member FINRA/SIPC.
About Conor Acquisitions
Conor Acquisitions is a real estate investment firm focused on the hospitality industry with expertise in hotel acquisition, development, construction, renovation, asset management and property analysis. Conor has worked with nearly all major hotel brands including Hilton, Marriott, Starwood, IHG and Wyndham. For more information, please visit www.conoracquisitions.com.
