Verakin Capital Passes $350M Investment Mark During First Quarter 2023

Investment Group Currently Has Three Projects Underway

SAN MATEO, Calif.--(BUSINESS WIRE)--Officials of Verakin Capital, a real estate investment group, today announced that the company has passed the $350M investment mark with its investment in three hotels in various stages of development through the first quarter of 2023. The hotels include the 181-room Moxy in downtown Atlanta, Ga.; the 223-room Hampton Inn/Home 2 in downtown Nashville, Tenn.; and the 117-room Courtyard by Marriott in Pittsburg, Calif. Verakin is the lead developer of the Courtyard by Marriott and co-investing in the other two projects alongside RevPar Development, one of the top privately owned hotel development and management companies on the East Coast, and Emerge Hospitality Group, a family-owned and -operated hotel ownership/development/management company.

“We are developing both on our own behalf and in joint ventures with like-minded investment groups. We are seeing that newer hotels and brands are faring better than their older counterparts as travel rebounds in many markets and segments,” said Rupesh Patel, partner, Verakin Capital. “To help satiate our investment growth appetite, we will continue to seek best-in-class partners, such as RevPar Development and Emerge Hospitality Group, who have proven track records as credible institutional investors, developers and operators.”

The three developments include:

1. Moxy – Atlanta Downtown -Centennial Olympic Park: Located at 329 Marietta St., the 181 room, 13 floor hotel will feature three food & beverage options, including a roof top bar and lounge that overlooks the Mercedes Benz Stadium. Scheduled to open mid-2026 prior to the FIFA World Cup, the hotel is centrally located and will feature spaces suited for both the business and leisure traveler.
2. Hampton Inn/Home 2– River North Downtown Nashville, TN: Situated at 611 Cowan St. in Nashville, Tenn., the 223-room hotel is directly across the street from Oracle’s $1.2B new campus that currently is under-development and The Landings at River North, a mixed-use development project. The 17-story structure will feature retail space, a coffee shop, a speakeasy cocktail lounge on the ground level, a garden terrace pool on level 5, a two-level parking deck, 12 levels of guest rooms and a rooftop lobby with bar. The hotel also is targeting mid-2026 to open.
3. Courtyard by Marriott: Nestled at 1001 Center Dr. in Pittsburg, Calif., the 117-room hotel will be among the first of Marriott’s Courtyard Gen 4 prototypes. With a stand-alone Starbucks also currently under construction in the hotel’s parking lot, the hotel is expected to open in Spring 2024.

“With these hotels, Verakin now has investments in more than $380 million in assets across the United States,” Patel noted. “While we are equally interested in acquisition opportunities in appropriate markets, we believe ground-up development also is necessary to grow a robust portfolio in today’s marketplace. We are pleased that our strong relationships continue to be prosperous, and we look forward to expanding upon them as we also look to build our network.”

About Verakin Capital

Verakin Capital creates the collaborative avenue to come together, pool resources, mitigate risk and multiply networks. The company is as dedicated to growing wealth as it is to building relationships with like-minded professionals. Above all, Verakin Capital is committed to integrity, professionalism and building long term wealth for its investors. For more information, visit www.verakincapital.com.