Auerbach Funds, in collaboration with a local sponsor, has successfully sold Hotel Becket in South Lake Tahoe, California for $24.6 million. Initially acquired in 2021 for $15.4 million, the hotel was run successfully without renovations, benefiting from the area’s significant market growth. This transaction marks the fourth fully realized deal from the Auerbach Opportunity Fund III portfolio. Peter Auerbach, the managing member, highlighted the fund’s ability to generate strong returns despite challenging market conditions. Auerbach Funds is now raising capital for Auerbach Opportunity Fund IV and expects to continue attracting new equity commitments through 2025.
Real Estate Investment, Hospitality, Private Equity,United States, California, North Carolina
https://www.einpresswire.com/article/739351767/auerbach-funds-sells-hotel-becket-in-lake-tahoe-ca-at-24-6-million-valuation?ref=rss&code=TBZPx1kIfwj9TStk