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JMA Ventures Reviews

1

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Reno Hotel Acquisition and Irregular Distributions

4.00

I invested with JMA Ventures in the acquisition and recapitalization of an airport hotel property in Reno. The investment has generally lagged behind its original 2022 projections, particularly concerning net operating income. While the property has delivered strong top-line revenue at various points, the plan to provide a "cash-out" refinancing for investors has not materialized. The deviations from the initial business plan were mostly caused by market conditions and seem mostly out of control of the management team. The sponsor has paid distributions throughout the hold period, though the amounts have varied significantly based on local market conditions. JMA Ventures provides consistent quarterly reports and maintains transparency regarding the operational challenges the asset is facing. I value the sponsor for their proactive management of the asset. While my future participation would be dependent on the overall hospitality market, I would consider investing with JMA Ventures again.

Kurt N.
Kurt N.3/25/2026
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