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AJ Capital Seeks $300 Million to Expand, Pay Debt on Hotels

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AJ Capital Partners is seeking a strategic partner to supply growth capital and pay down property level debt for Graduate Hotels, a lodging brand focused on serving college campuses.

AJ Capital is seeking as much as $300 million in a combination of debt and equity, according to people familiar with the matter. The firm has retained Newmark to advise on the fundraising, said one of the people, who asked not to be named because the matter is private.