Family Office Networks Announces Launch of Boardwalk Hospitality Fund
In Partnership with Experienced Real Estate Entrepreneur Domenick Pisciotta
PALM BEACH, FL – January 15, 2020 – Family Office Networks announced today that it is accepting investments into the Boardwalk Hospitality Fund, a targeted $30 million Fund that will invest in off-market, under-valued and distressed hotel and resort development properties located in the Northeast United States. The Fund will acquire real estate assets and then add value by developing each project in a general contractor role.
Each of the properties that the Boardwalk Hospitality Fund acquires will have substantial built-in equity and the potential to generate strong cash flow over time in order to provide investors with consistent returns on the real estate investments without the need to actively participate in the renovation and management process.
Fund Manager Domenick Pisciotta was born in Switzerland and has 25 years of experience working as a real estate and finance entrepreneur. During his career he has owned, managed, renovated and sold mixed-use, commercial and residential, including ownership and management of 100+ commercial, specialty and residential units. In the past 15 years his group shifted its focus to hotels and has built 25 hotels in the Northeastern United States and Canada.
“Our focus and experience in hotel building, along with our in-house team of construction and support positions, allow us to develop properties very quickly and at a discount. Our past performance with various selling sources allows us access to off market and undervalued deals and strong relationships with the hospitality groups insures that we will get the best flag for the project which in turn will increase the end value of the project,” Pisciotta said.
“We target 11% net IRR returns to our network of active family office investors who increasingly come to us as a trusted resource for identifying and vetting real estate opportunities. An added benefit is that many of these families have their own real estate empires and are in touch, on-the-ground in their local markets with many prime, off-market deals,” said Peter Apostol, President of Family Office Networks.
To learn more, contact Peter Apostol at firstname.lastname@example.org.
About Family Office Networks
Family Office Networks is the premier global community for families to share information and intelligence. The team works with a select group of top tier investment managers and sponsors who offer substantial families’ access to stellar investment opportunities in areas such as real estate, venture capital, private equity, and hedge funds. In addition, Family Office Networks shares timely thought leadership on topics related to portfolio management, philanthropy, multi-generational wealth management, compliance and regulation, risk management, insurance, training and education. The website www.familyofficenetworks.com is the hub of Family Office Networks with 200,000 users, including 10,000 family offices, and is a go-to resource for news related to family offices.
Charlotte Luer; 239.404.6785