New Haven, Conn. – AJ Capital Partners announced today that it has acquired the storied Hotel Duncan in New Haven, Connecticut. In spring 2018, the hotel will close for a comprehensive renovation and reopen in early 2019 as Graduate New Haven. Following the renovation, the five-story hotel will offer 72 rooms, a game room, lobby coffee shop and subterranean restaurant. Located on Chapel Street adjacent to Yale University's campus, Graduate New Haven will be the ideal location for University visitors and those traveling to New Haven for its unique history and diverse businesses.

Prominently situated in the center of Yale's Arts Campus, a half block from Yale Center for British Arts and The Yale University Art Gallery, the hotel is easily accessible to campus and downtown New Haven's numerous bars, restaurants and boutiques. The hotel is also a short walk to Yale New Haven Hospital, one of the country's most elite teaching hospitals.

Created for travelers who seek memory-making journeys, Graduate Hotels are part of a well-curated, thoughtfully crafted collection of hotels that reside in the most dynamic, university-anchored cities across the country. Every property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that often played host to the best days of our lives. Locations include Ann Arbor, Mi.; Athens, Ga.; Berkeley, Ca.; Charlottesville, Va.; Lincoln, Ne.; Madison, Wi.; Oxford, Ms.; Richmond, Va and Tempe, Az., as well as Bloomington, In.; Iowa City, Ia.; Minneapolis, Mn.; Seattle, Wa.; and New York City's Roosevelt Island as part of the Cornell Tech campus are slated to open in 2018 and 2019.

"We are thrilled to announce the acquisition of the Hotel Duncan," says Tim Franzen, President of Graduate Hotels. "Built in 1894, the hotel has been a prominent fixture in the New Haven community. We look forward to celebrating some of the hotel's treasured history, restoring and reintroducing the community to parts of the hotel that have been lost over time, and bringing Graduate Hotels to New Haven. We are truly honored to be stewards of this precious gem for many, many years to come."

The hotel will undergo a comprehensive renovation, which will touch all guestrooms, common areas, and the hotel lobby, as well as preserving the hotel's manually operated elevator – the oldest in the state. In addition, Graduate Hotels will introduce a lobby coffee shop, as well as a sophisticated game room and lounge in the hotel's former ballroom.

For more information on Graduate Hotels, please visit www.graduatehotels.com.

About Adventurous Journeys Capital Partners

Adventurous Journeys (AJ) Capital Partners, based in Nashville, is an accomplished team of real estate and hospitality professionals whose innate passion is to cultivate a one-of-a-kind portfolio of dynamic communities and timeless assets. AJ Capital Partners' experience is anchored on the progressive and creative application of its deeply rooted hospitality expertise across several real estate categories, including mixed-use, hotel, office, multifamily, and retail. The counterculture professionals acquire, design, and develop transformative real estate throughout the U.S. and U.K. AJ Capital Partners launched and owns Graduate Hotels®, a collection of handcrafted hotels in university communities internationally, as well as Marine & Lawn Hotels & Resorts, a set of bespoke properties in the world's most distinguished golfing destinations. In Nashville, AJ Capital Partners is embarking on a multi-phase mixed-use project in the Wedgewood Houston neighborhood, which will bring creative office, retail, residential, and hospitality offerings to the community. Most recently, the firm acquired 22 acres of land in Miami's Little River neighborhood, encompassing more than 300,000 square feet of commercial space, which will thoughtfully be developed into an adaptive reuse, substantial streetscape, and approachable ground-up development. For more information on AJ Capital Partners, please visit www.ajcpt.com.

Meg Connolly
Communications
212.505.8200
AJ Capital Partners