Midas Hospitality is advancing its growth strategy with the addition of David Clayton as the firm’s first chief investment officer. Clayton has nearly 40 years of experience in finance, most recently serving as senior vice president, private markets at Reinsurance Group of America. He will now focus on raising capital for Midas as it targets larger and more complex hospitality projects nationwide.
“Midas Hospitality’s growth trajectory is energized by a grander vision of dynamic hospitality and multi-family projects, some of which exceed $100 million throughout the country,” Midas Hospitality CEO David Robert said in a statement. “David Clayton brings vast experience and strong relationships to broaden our outreach to institutional, high net worth and family office investors.”
A substantial part of Clayton’s career has been in the commercial real estate lending and equity investing market, including time spent with General American and its investment management subsidiary Conning Asset Management Company. He most recently managed RGA’s private debt and equity platform with more than $3 billion in assets under management.
Representative of Midas Hospitality’s more complex projects is its planned $125 million redevelopment of the Wells Fargo campus includes two seven-story hotels—a Kimpton Hotel and Staybridge Suites. Other major projects include a planned 250-room Sheraton Hotel and AMB Apartments by Marriott in Daytona Beach, Fla. and a dual-branded AC Hotel by Marriott and Residence Inn by Marriott with accompanying retail in Lenexa, Kan. The firm is also engaged in a $50 million redevelopment of the historic Edison Brothers Building downtown and last year it completed the $42 million Residence Inn in Clayton, Mo.