HRI Properties

HRI Properties is a diversified, full-service real estate company based in New Orleans, Louisiana. We develop, own, and manage both single-purpose and mixed-use projects across the country, including hotel, multifamily, and mixed-use developments, primarily in urban areas of the 40 largest markets. Our differentiated strategy of combining management of both hotels and apartments under one operating platform is unique in the real estate industry. Currently, the Company owns 20 properties in 10 states and manages 46 properties for third parties and affiliates in an additional 6 states. The Company is a developer at its core and currently has approximately $104 million of large-scale development projects under construction in Dallas, Philadelphia, Nashville and New Orleans that have a total development cost of $250 million. The owned and under construction portfolio is well diversified and is comprised of 10 hotels, 6 apartment buildings, and 4 mixed - use projects across 11 cities and 10 states with 2,800 hotel rooms and 1,502 apartment units with approximately 176,000 square feet of retail space. The portfolio total investment cost is in excess of $1 billion. The Company’s expertise in public/private partnerships, historic rehabilitation and development incentives, including federal and state historic rehabilitation tax credits, new market tax credits, and low income housing tax credits, gives the Company a unique advantage to ensure successful completion of and lower cost basis in its projects. The Company has a strong track record of success, evidenced by its completion of 72 large-scale projects nationwide, which include 5,831 apartments/residential condominium units, 4,475 hotel rooms, and 1,381,888 square feet of office and retail space, with a total development cost of over $2.5 billion. The Company has long standing relationships with large financial institutions, including Capital One, US Bank, Wells Fargo, and Chase. In addition to these banking relationships, the Company has established joint venture and tax credit equity relationships with Chevron, Kimberly-Clark, Nationwide Insurance, Aegon, and Prudential. The Company’s lodging division is an approved hotel operator for Hilton, Starwood, Marriott, Hyatt and InterContinental, and is one of the few approved operators for full-service Hyatt hotels in the country.