Liberty Group closes $56 million hotel fund

Hotel developer and investor Liberty Group has finalized its second lodging acquisition fund, with plans to buy select-service and extended-stay properties through 2020.

Liberty Hospitality Fund II LP, of which Liberty Group and affiliates are the single-largest equity investor, raised $56.3 million beginning in January. In all, the firm hopes to deploy $165 million through leveraging the fund's equity.

The fund follows an initial Liberty fund, which completed raising $25 million in capital in 2014. Since that time, the fund has purchased more than $65 million in hotel properties, including Marriott- and Wyndham-flagged assets.