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Aloft Reno-Tahoe International Airport

Reno, NV

Ground up development of a 164 key hotel adjacent to the Reno-Tahoe International Airport with subsequent successful recapitalization as the property reached stabilization.

Asset Type





164 Keys


Recap completed Aug. 2022

Key Investment Thesis

Opportunity to develop a well-located hotel in a high growth and burgeoning lodging market, providing highly attractive annual cash flow returns for investors.
  • Post development recapitalization providing opportunity for new investors to participate in return growth as the hotel reaches stabilization
  • Rare off-market ground lease opportunity sourced through the Reno-Tahoe Airport Authority, with development option for adjacent land

JMA Value Creation

JMA developed the project on schedule and on budget, successfully delivering the hotel at an attractive basis. JMA then provided significant value for its “Phase 1” investors by recapitalizing the hotel in August 2022, with 4x gross returns on initial investor equity.

Quickly ramped up asset towards stabilization, despite hotel opening only months after the onset of the pandemic

Successful Phase I exit with substantial investor returns, while allowing Phase 2 investors to participate in continued upside as the property nears full stabilization
Negotiated accretive ground lease with Reno Airport Authority that features zero property tax
Managed full development and operation process from inception to hotel opening, delivering on budget in a volatile construction market