PFH Fund 1

Proper Form Holdings is launching its first fund to invest in small independent hotels in high barrier markets. The fund targets unique assets with diverse demand, enabling varied revenue and resilience. By focusing on distinct, mixed-use properties often ignored by large investors, Proper Form aims for sustainable growth and long-term success.

Acquisition Strategy
Target Asset Size: 20 - 100 keys
Avg. Hotel Purchase Price: $10M - $15M
Below replacement cost and high barrier land
Value Add through branding reposition and light renovations

Fund Structure
Target Fund Size: $30M
Target IRR: 20-22%
Preferred Return: 8%
5-Year Hold with 2-Year Extension Option