Carlyle Partners with MHI Hospitality

The Carlyle Group and MHI Hospitality Corp. (AMEX: MDH) have entered into a joint venture to source, underwrite, acquire, develop and operate hotel assets and/or hotel portfolios.Carlyle has committed up to $100 million in equity capital, while Perseus Realty Capital acted as agent and arranger. Under terms of the agreement, MHI will identify potential investment opportunities in excess of $30 million, and the joint venture partners will jointly agree on an investment's suitability prior to capital commitment.