JER's investment is multi-faceted; the deal allows the company to buy stock in Longhouse, and provide mezzanine financing and convertible mortgages, a JER spokesperson tells GlobeSt.com. Part of JER's investment will also be directed toward property acquisitions.
As per its company description, JER's investment strategy involves the pursuit of "opportunistic, redevelopment and value-added equity and debt real estate investments." The Longhouse investment appears to be a perfect fit. "JER is optimally positioned to capitalize on the increasing institutional interest in the extended-stay sector in part because of the sector's strong investment yields," says Cia Buckley, JER senior managing director of North American Investments.
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