NATIONAL REPORT— Los Angeles-based Johnson Capital’s Investment Banking Group has acted as lead adviser to Winston Hotels (of Raleigh, NC) to create a joint venture with Boston-based Charlesbank Capital Partners LLC to acquire more than $100 million worth of hotel assets. Winston will serve as managing member of the investment entity, which will target limited-service, upscale extended-stay, and small, full-service branded hotels in primary and secondary markets. Charlesbank is a private investment firm managing capital on behalf of a range of institutional investors. The investment entity will reportedly focus on acquisitions that have turnaround or upside potential and can benefit from additional capital and aggressive asset -management, which could include renovating, repositioning, re-branding or a change in management.
