Still, though, the fund has a contingency plan in place shouldit not receive the bank line of credit, according to principal EdAnsbro. "If we find deals we absolutely have to have and we haven'tgotten the debt sourced, we will buy in cash until the debt marketsturn around."
He thinks debt will begin to move again, albeit slowly, at thebeginning of the year. Fairwood Hospitality Investors has beencapitalized by the principals of Fairwood Capital LLC, a newlyformed private equity fund, and two institutional investors.Fairwood's principals are Ansbro, who is a former SVP of EquityInns; Robert Solmson, the founder, former chairman and CEO of RFSHotel Investors; and Richard Reiss, chairman of GeorgicaAdvisors.
GlobeSt.com: What will be the focus of thefund?
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
