Tom Corcoran Corcoran says a Formula Blue property improvement plan will be done at a hotel closing in August.

DALLAS—With a focus on the acquisition of branded premium select service hotels, TCOR Hotel Partners and TriGate Capital LLC have formed an equity joint venture for $30 million. TCOR and TriGate signed a definitive agreement for its first acquisition expected to close in late August.

“We will be doing a complete Formula Blue property improvement plan at the hotel expected to close at the end of August,” Thomas J. Corcoran Jr., CEO/president of TCOR and former founder/chairman of FelCor Lodging Trust, tells “We have not identified any other hotels at this time and therefore will not know the scope of the renovations until they have been identified.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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