Gentry Mills Takes Offering Full-Cycle, Delivers 16% Annualized Return

Gentry Mills Capital, a real estate investment firm and sponsor of non-traded direct investment offerings, sold a 123-room Marriott Hotel, Element Palmdale, in Palmdale, Calif. for $32.8 million.

Element Palmdale is the sole asset in the firms GMI-Palmdale Hospitality LP partnership. According to Gentry Mills, this is the firm’s 17th program to go full-cycle, returning 100% of the limited partners’ capital. It generated an approximate annualized rate of return of 16.3% for its limited partners throughout a nearly six-year holding period.

“The Element Hotel Palmdale has been a consistently strong performer since its development because of the many room night generators nearby such as universities, hospitals and aerospace facilities,” said William P. Glass, president of Gentry Mills Capital. “As we are all aware, the hospitality market was dramatically affected by the COVID-19 pandemic. However, our strategy of being patient with the market has been rewarded as we have been able to sell the Element Palmdale, generating an outstanding rate of return for our limited partners.”

Gentry Mills Capital LLC is a Dallas-based, real estate investment firm whose purpose is to seek out, package and provide high quality commercial real estate investment opportunities through the broker-dealer community. Since 2006, Gentry Mills has raised more than $270 million in capital with 17 of 36 total programs going full cycle.

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