HotelsMag March-April 2022 | Page 49

The Guild Victory Park – Katy Trail in Dallas , Texas . rely heavily on technology .
As CREA continues to develop projects , Carrico says there is a joint venture structure in place for The Guild to work as its preferred management company . The total building count , including buildings that are active and under construction among the 5,000 new units , stands at about 20 . Ten of those are already in operation , according to Carrico .
“ CREA likes the idea of being a part of a single platform where we can capture that upside as opposed to just leasing it out to a thirdparty ,” Carrico adds .
Since its inception in 1995 , CREA has developed and / or owned an excess of 25,000 multi-family homes , master-planned lots for 16,000 single-family homes , and developed over 2 million square feet of mixed-use communities .
“ There are really great synergies between the types of buildings that they like to build and where they like to build them , and the types of buildings that The Guild wants to manage as a hospitality living platform ,” Carrico says . “ So , the deal really started to come together in the second half of 2021 .”
March / April 2022 hotelsmag . com 47