Boca Raton, FL. — Montford Group, a real estate and development private equity firm headquartered in Boca Raton, Fla., and Ad Astra Capital, a real estate and investment firm headquartered in Austin and Dallas, Texas, today announced the official closing of their first joint acquisition, the Home2 Suites by Hilton in Fort Worth, Texas.
The 162-key property is prominently located in the rapidly growing Cultural District, adjacent to downtown Fort Worth and surrounded in all directions by billions of dollars in new development. The hotel is well-positioned to benefit from the city’s diverse demand base and transformational growth taking place throughout Fort Worth, and is proximate to key demand drivers including Dickies Arena, Will Rogers Memorial Center, Texas Christian University, and numerous hospital systems.
“Fort Worth continues to stake its claim as a business and economic hub, driving enormous demand from business and leisure travelers alike,” said Montford Group Co-Founder and Managing Partner Glenn Alba. “The Home2 Suites aligns with our strategy of identifying opportunities in markets with high barriers to entry. We are selective in where we choose to own, and are grateful to partner with Ad Astra Capital in adding this property in one of the most in-demand investment markets in the country to our growing portfolio.”
The property marks the second purpose-built Home2 Suites in the Montford Group portfolio, and its first in Texas. The hotel will be managed by Montford Group partner Lexima Lodging, a recognized operations leader with over 30 years of experience in third-party hotel management, investment, and asset management.
