M&A Deal Summary

Sortis Acquires Ace Hotel

On January 17, 2023, Sortis acquired leisure company Ace Hotel for 85M USD

Acquisition Highlights
  • This is Sortis’ 1st transaction in the Leisure sector.
  • This is Sortis’ largest (disclosed) transaction.
  • This is Sortis’ 3rd transaction in the United States.
  • This is Sortis’ 1st transaction in New York.

M&A Deal Summary
Date 2023-01-17
Target Ace Hotel
Sector Leisure
Buyer(s) Sortis
Deal Type Add-on Acquisition
Deal Value 85M USD

Target

Ace Hotel

New York, New York, United States
Ace Hotel is an operator of a hotel as a community gathering space for locals and visitors alike. Ace finds its home in vibrant cities around the globe with its newest locations in Toronto, Canada, Kyoto, Japan and Sydney, Australia celebrating the culture, history, and humans that bring them to life. Everybody is welcome. Ace Hotel was founded in 1999 and is based in New York City.

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Buyer(S) 1

Buyer

Sortis

Portland, Oregon, United States
Category Company
Founded 2003
Sector Business Services
Revenue 2M USD (2019)
DESCRIPTION

Sortis is an investment firm with a primary focus on real estate, both as a lender and as a direct investor. From its origins as a bank holding company, Sortis has evolved into a diversified firm that both lends and opportunistically invests in real estate, with a focus on the Western U.S. Since real estate and financial markets are constantly evolving, the firm’s ability to move between asset classes and positions in the capital stack makes it nimbler than its competitors. Sortis is also a developer of real estate through its affiliate companies. Operating under the principles of client focus, integrity, hard work, and creativity, Sortis Holdings provides its accredited investors with well-managed, diverse asset-based investment strategies. Sortis was founded in 1995 and is based in Portland, Oregon.

DEAL STATS #
Overall 3 of 3
Sector (Leisure) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (New York) 1 of 1
Country (United States) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 WLCR

Portland, Oregon, United States

WLCR is a full-service digital creative agency bent on direct-to-consumer (D2C) growth acceleration via technology-based solutions to accelerate growth, relevance, and durability by perfecting the digital ecosystem and maximizing ROI. The company identifies the primary goals, values, and concerns of all ecosystem stakeholders, from consumer to shareholder, and then apply data-based insights to pragmatic problem-solving. In addition, and in contrast to other creative agencies, it partners directly with PE, VC, and AI capital (and their portfolios) as well as other visionaries, founders, and business leaders in a way that accelerates innovation at every step. WLCR was formed in 2009 and is based in Portland, Oregon.

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