Alex Rodriguez, Adi Chugh Invest in Hotel Fund
Retired baseball superstar Alex Rodriguez found his latest real estate investment. Rodriguez’s A-Rod Corp and joint venture partner Adi Chugh of Maverick Commercial Properties are investing in CGI Merchant Group’s $650 million Hospitality Opportunity Fund. The two partners will help CGI with its investment strategy, expand its debt capital market capabilities and aid in acquiring trophy properties, according to a press release. The hotel market has been hit especially hard during the pandemic, with some properties closing permanently and lenders taking over from overleveraged borrowers. ...
Source: therealdeal.com