
Mixed-Use Multifamily & Hospitality Platform Placemakr Scores $65M in New Capital
Multifamily and hospitality platform Placemakr raised $65 million in new funding, exceeding $350 million in total capital raised. The company has also named Timothy G. Franzen, the former president of Graduate Hotels, as chief development officer.
The fresh capital in the mixed-use-focused real estate firm comes from venture capitalists and real estate investors, including Highland Capital Partners, Harbert Growth Partners, Bernstein Management Corp., Camber Creek and Gaw Capital.
Washington, DC-based Placemakr plans to use the new capital for property acquisitions and developer partnerships across the country.
“In addition to residential multi-family buildings shifting to mixed hospitality and residential use, we’re also seeing an influx of office conversions as these properties in prime locations continue to sit vacant,” noted Jason Fudin, CEO and Co-founder of Placemakr.
Placemakr, which raised $90 million a year ago and rebranded from WhyHotel, has managed more than $1 billion of real estate assets on its platform. The company also recently announced the launch of two new properties in Nashville, Tennessee and Columbia, Maryland.
