Circa Capital

Circa Capital was founded in 1993 to take advantage of opportunities created by the portfolio sale of non-performing loans and real estate by the Resolution Trust Company ("RTC"). As one of the first investment groups to identify these opportunities, Circa Capital successfully acquired one of the initial RTC portfolios consisting of 42 assets inclu... ding office, multifamily, retail and hospitality properties. Through aggressive asset management the firm successfully restructured and repositioned all 42 properties which were later sold at an average price exceeding 250% of the basis and yielding an annual IRR of 51%. Circa Capital then correctly predicted the recovery of the hotel market and began making strategic acquisitions long before the rest of the market followed suit. Henceforth, the firm has strategically concentrated on targeting and specializing in hospitality assets which have remained the primary asset class and the bulk of Circa Capital's investment holdings. To date we have acquired a total of 15 under-performing hotels containing 3,666 rooms. As an extension of Circa Capital's hotel acquisition program and in response to market opportunities created by the Mexican Peso devaluation in 1994, Circa Capital began its efforts to acquire upscale hotels in Mexico in early 1995. After months of due diligence and negotiations, Circa Capital made its initial two investments purchasing the Sheraton Huatulco and Sheraton Ixtapa resorts and we have since continued to be active and successful in the Mexico leisure market.Read More