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09

StepStone Invests in HRI Hotel Expansion

By Tony Seruga

Robert W. Baird & Co. served as financial advisor to the New Orleans-based hospitality company.

New York and New Orleans—StepStone Real Estate is investing up to $87.5 million in New Orleans-based HRI Properties to help continue its expanding portfolio of hotel, multifamily and mixed-use projects in major urban U.S. markets.

“HRI’s management team, portfolio and track record are best in class, and we’re excited to participate in their ongoing growth,” Brendan MacDonald, a StepStone partner and founder, said in a prepared statement…

StepStone Invests in HRI Hotel Expansion

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