Hicks in ‘high-end’ hotel project

Thomas Hicks is keeping busy in retirement, most recently launching a real-estate joint venture with Gatehouse Capital, a Dallas-based real-estate developer.

Thomas Hicks continues to stay active in retirement. His most recent venture is a joint project with Dallas-based real-estate firm Gatehouse Capital Corp. to develop high-end hotels and residential real-estate projects in Texas, California and other US regions.

Tom Hicks: The former HMTF head is keeping busy in retirement.

Hicks, the erstwhile front-man of Hicks Muse Tate & Furst, retired from the firm last January, and launched Hicks Holdings in the same month to house select family investments. Hicks Holdings controls two professional sports teams owned by Hicks, the Texas Rangers baseball club and the Dallas Stars hockey team, and is the vehicle through which the Hicks family makes other investments.

Last November, for example, Hicks completed the buyout of Ocular LCD, a manufacturer of liquid crystal displays. He also holds controlling stakes in regional landscape materials concern River City Landscape Supply and Gammaloy, an oil-and-gas drilling-tool manufacturing company.

Hicks Holdings has already pursued investments in real estate prior to the joint venture with Gatehouse. Past investments include ventures with Steiner & Associates, Cousins Properties and Hillwood Capital, all of which involve projects based in the Texas area, and Hicks Holdings also pursues South American real-estate investments through Hicks Trans American Partners.

This latest venture will target the high-end hotel market, and give Hicks exposure to other regions outside of Texas. “I admire Gatehouse’s high-end hospitality product niche and I look forward to other hotel-related investment opportunities around the country,” Hicks said in a statement.

Gatehouse, founded in 1995 by Marty Collins, has been active in building up the W Hotel franchise. The firm has completed W Hotels in Newark, California and San Diego, and is currently developing similar projects Los Angeles and Dallas.

Hicks, according to the statement, will invest in the Los Angeles project, and going forward will help identify and pursue other projects, not necessarily limited to W Hotels.