Miami, July 12th, 2023: FlexFunds, a leading provider of asset securitisation services offering both turnkey or custom-built solutions that facilitate the setup and launching of exchange-traded products has issued its 500th Exchange Traded Product (ETP) for Driftwood Capital.
Driftwood Capital specialises in real estate strategies spanning acquisition, development, and lending and has a portfolio of assets under management of over US$ 3 billion and 1,200 active investors. The ETP issued by FlexFunds under the denomination “Great North Partners” facilitates Driftwood’s distribution of high-return mezzanine debt and loan investments in hotel assets throughout the United States.
Carlos J. Rodriguez, Chief Executive Officer and Chairman of Driftwood Capital said: “FlexFunds gave us the opportunity to distribute our investment products to a wider audience of foreign investors in a cost-efficient and effective manner. We plan to use FlexFunds for distributing not only our Hotel Lending Platform products but also for our Hotel Development and Acquisition Investment strategies. We see FlexFunds as a way to continue to increase our channels of distribution worldwide and continue to exponentially grow our US$ 3 billion + hotel portfolio.”
Emilio Veiga Gil, Executive Vice President, and Chief Marketing Officer of FlexFunds, said: “Through FlexFunds’ securitisation program, we can convert any asset into a listed and Euroclerable security, allowing international investors to participate in any project easily. Driftwood Capital’s ETPs are a clear example of the advantages that asset securitisation can offer, ranging from real estate to portfolios of listed securities or any other private equity project. Asset repackaging plays a key role in allowing investors to participate in a wide range of opportunities with lower levels of investment, thus democratising access to capitalmarkets.”
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About FlexFundsFlexFunds partners with asset managers worldwide to provide administration services for exchange traded products. FlexFunds’ asset securitization program makes structuring of ETPs simple for our customers, including fund accounting and back-office services, corporate administration services, and product launch coordination. FlexFunds does not provide investment, legal, accounting or tax advice. FlexFunds is not an investment advisor or a broker dealer.
About Driftwood CapitalDriftwood Capital is a vertically integrated commercial real estate investment, development, and lending platform specialising in hospitality. The principals of Driftwood Capital boast a 30+ year track record transacting on more than $5 billion in hospitality assets through various afﬁliated management and ownership entities. In 2015, the principals of Driftwood Capital launched a unique syndication model for accredited investors to access otherwise exclusive institutional-quality hotels. Through this innovative syndication model, Driftwood Capital successfully turned $50 million of initial investment into more than $1 billion in assets across 18 hotels and 5 development deals with more than 5,100 rooms in 12 states. All Driftwood Capital funds beneﬁt from the principals’ afﬁliation with Driftwood Hospitality Management, which currently manages over 75 full and limited service hotels with more than 15,000 rooms across 22 states and is regarded as a long-standing industry leader and best-in-class operator.
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