These Former College Roommates Just Purchased a Hilton Hotel for $8.3M

These two former school roommates turned company associates are creating big moves in their careers in authentic estate. This week, Atlanta-based mostly entrepreneurs Davonne Reaves and Jessica Myers celebrated a large career milestone with the recent acquisition of the Dwelling2 Suites by Hilton in El Reno, Oklahoma by way of their millennial-driven hotel ownership team.

The offer was done in partnership with Nassau Investments and is valued at $8.3 million, also building Myers and Reaves the youngest Black women of all ages to ever co-personal a assets beneath a big hotel chain. The residence is the to start with acquisition below the Epiq Collective, Myers and Reaves’ real estate enterprise to get the job done on professional spaces.

“I hardly ever assumed by the time I was 33 that I’d be a hotel operator, but I admit that it feels good to have achieved that at this level in my everyday living,” claims Reaves about the vocation milestone to Black News. “Making heritage in the approach, well that’s just icing on the cake!”

The Georiga Point out University alums often dreamed of owning their have lodge property since their days with each other on campus. Reaves labored her way up by the field setting up as a entrance desk agent for the Hyatt Regency Atlanta before progressing up the corporate ladder and later relocating to Boston.

“I would normally see other lodge house owners but they did not seem like me. So that’s when I started off on a 14-calendar year mission to make a alter,” Reaves told Black Company.

Reaves recounts the day telling her business associates about the residence and how the day also falls on the birthday of her late grandmother who handed away a person yr ago this month. “I instructed our staff of traders that I wanted to personal this resort by February 6th. Which is my grandmother’s birthday and coincidentally it’s Jessica’s birthday too. Being aware of that I’ve performed that, just presents me chills!” states Myers to Black News. “We’re so proud to provide that ‘Black lady magic’ to the business true estate market this is just the commencing!”

By forming Epiq Collective, an Atlanta-based mostly professional real estate expenditure company, Myers and Reaves have obtained extra than $14 million in industrial genuine estate assets. The company’s key target is a collective tactic to assist traders spend in real estate tasks that standard people today may possibly not have accessibility to. Myers and Reaves’ consciousness of the lack of representation and ownership by Blacks and women of all ages in the resort industry has led the ladies to have even greater aspirations for the upcoming.

“Stay in dedicated action no issue what it appears like. Really don’t enable your recent circumstance to dictate the altitude of your accomplishment,” Myers informed Black Enterprise. “If your dreams are not scaring you then they’re not massive sufficient.”

—Additional reporting by Ashantai Hathaway