what?
$10M
A hyper focused hospitality fund. One asset class, one discipline, no ground up development.
the
hacienda. thesis.
Exclusive access. Proven potential.
A hyper focused hospitality fund built on the right partners, the right brands, the right markets and the right assets. We buy income producing lodging, we operate it, and investors earn before we do.
Open to accredited investors only. Offered through a private placement under Regulation D, Rule 506(c).
fund summary.
$10M
Target Fund Equity
14–20%
Targeted Gross IRR
5–7 yr
Estimated Fund Life
6%
Preferred LP Return
the thesis.
What. How. Why.
Three questions decide every dollar we deploy. If an asset cannot answer all three, we pass.
how?
The right partners, brands, markets and assets. We underwrite conservatively, we buy at a basis that already works, and we hold operating partners to their numbers.
why?
Exclusive access. Proven potential of returns. An opportunistic economy where quality lodging is trading below replacement cost.
the fund.
How Hacienda Fund I works.
Invest alongside the sponsor in cash flowing, branded lodging through a structured private placement. You hold a limited partner interest. We do the work.
We source and acquire.
Hacienda handles origination, underwriting, due diligence, financing and closing. Deals come through operator relationships, not broker blast lists.
You invest through the fund.
Accredited investors subscribe once and gain exposure across every asset the fund acquires. Retirement accounts are eligible.
We operate, distribute and exit.
Our lodging partners run the asset to plan. The fund targets quarterly distributions and a disciplined exit inside the fund life.
Fund I terms at a glance
Summary only · see the PPM for controlling terms- Structure
- Delaware limited partnership
- Target equity
- $10,000,000
- Minimum investment
- $50,000
- Preferred return
- 6% cumulative
- Split after pref
- 80 / 20 LP / GP
- Targeted gross IRR
- 14% to 20%
- Estimated fund life
- 5 to 7 years
- Distributions
- Quarterly, when available
- Asset focus
- Select service and lifestyle lodging
- Eligibility
- Accredited, IRA and 401(k) friendly
who we serve.
Built for capital that plans to stay.
Physicians and professionals
High income, low time. You want lodging exposure without running a hotel, and a structure where the sponsor earns after you do.
Family offices
Direct, private hospitality exposure aligned with long term stewardship. Durable income, disciplined execution, downside protection first.
Advisors and RIAs
An institutional quality private real estate allocation that complements a diversified book without ground up development risk.
strategy in action.
Kinley · Newport, Kentucky
A direct investment with our lodging partners, made in the second quarter of 2024. Kinley is the clearest expression of the thesis: an established brand, a supply constrained submarket, an operator we already knew, and a basis that survives a soft year.
portfolio.
Assets, not ambitions.
Every position is income producing on the day we close. We do not underwrite a turnaround we cannot operate ourselves.
Operating
Kinley Newport
Lifestyle lodging on the Ohio riverfront, acquired with an operating partner already running the flag.
Newport, KYVintage 2024
Operating
Alamo Select Portfolio
Two select service assets in South Texas corridors with contracted corporate demand and no new supply in the pipeline.
San Antonio, TXVintage 2023
Under diligence
Fund I Pipeline
Three branded assets in Texas and the Gulf South currently under review. Fund I investors see them first.
Sun Belt2026
“Success seems to be connected with action. Successful people keep moving.”
— Conrad Hilton
our team.
Guided by experience. Driven by discipline.
Rahul B. Patel
Founder & Managing Partner
Combines legal acumen with a passion for lodging. A Texas Super Lawyer with deep rooted knowledge of hotel operations and the partner relationships that put Hacienda in front of assets before they are marketed.
Sebastian Garzon
Chief Executive Officer
Executive Director of Alamo Angels, having led over 50 startup investments across venture and hospitality. Runs underwriting, investor relations and the operating partner scorecard.
questions.
Before you subscribe.
Accredited investors only, as defined in Rule 501 of Regulation D. Because the fund is offered under Rule 506(c), accreditation is verified before a subscription is accepted. Verification is handled by a third party.
$50,000. Larger commitments are accommodated and the general partner may accept a smaller amount at its discretion. Retirement accounts, including self directed IRAs and solo 401(k)s, are eligible.
The fund targets quarterly distributions once acquired assets are stabilized and generating distributable cash. Limited partners receive a 6% cumulative preferred return before the sponsor participates in profits.
Lodging reprices nightly, so income adjusts with inflation instead of lagging it on a twelve month lease. Our partners already operate in this asset class, which means we underwrite from real operating data rather than a broker model.
Fund level fees, the acquisition fee and the promote structure are set out in full in the private placement memorandum. Nothing on this page modifies those terms. Read the PPM before subscribing.
It is not liquid. Limited partner interests are illiquid, there is no secondary market, and capital should be considered committed for the full estimated fund life of five to seven years. Invest only what you can leave invested.
next step.
Request the Fund I materials.
Tell us where to send the deck. A partner follows up within two business days, and nothing is shared with anyone outside Hacienda.
- Investor deck and fund summary
- Private placement memorandum on request
- A call with Rahul or Sebastian, not a sales desk
Request received.
Check your inbox for the Fund I deck. A partner will follow up within two business days to confirm accreditation and answer questions.