Ethika Investments Allocates Capital For Acquisition Of Hunt Valley Inn In Baltimore, Maryland
LOS ANGELES, March 29, 2013 /PRNewswire/ -- Ethika Investments, LLC, a U.S.-based real estate investment firm, has announced the capital allocation for the acquisition and branding of the Hunt Valley Inn located in Baltimore, Maryland. This marks the fourth investment from Ethika's Diversified Opportunity Real Estate Fund. The hotel will soon be branded as part of the Wyndham Grand Collection.
Ethika's affiliate, Laurus Corporation, a real estate investment and development company specializing in hotel and resorts, office buildings and mixed-use properties, recently completed the acquisition of the hotel."Our planned $9.5 million renovation program will deliver an upgraded guest experience throughout the property, and increase rates and occupancy," said BJ Turner, Vice President Capital Markets for Ethika Investments. "The renovations will re-establish the hotel's dominant position in this changing market." "This deal displays attractive returns, strong fundamentals and robust demand drivers, in short, the types of assets Ethika has been investing in," said Andres Szita, Chairman & Co-Founder of Ethika Investments. The Hotel features 393 guestrooms and 33,000 square feet of meeting space, including a fitness center, indoor/outdoor pool, business center, gift shop and tennis courts. The property benefits from its ideal location and strong visibility off the highway on Hunt Valley's major thoroughfare. Surrounded by numerous Class A office parks, this rapidly expanding business hub is home to several Fortune 1000 companies and national corporations, including BD Diagnostic Systems, Bank of America, PHH Corporation, AAI Corporation and McCormick & Company, Inc. The Hunt Valley Inn is located at 245 Shawan Road in Hunt Valley, Maryland. Ethika Investments is a real estate investment firm formed to provide investors access to a unique platform by tactically investing in opportunistic real estate assets primarily in the United States. It is affiliated with Laurus Corporation, a real estate investment and development company that specializes in hotel & resorts, office buildings, multifamily and mixed-use properties.
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