It costs millions to renovate a decent love hotel. Patrons want the latest in love hotel accoutrements and decor. It’s expensive. All well and good in the roaring 80s when credit flowed like water, but not today. That’s when niche funds like MHS Capital Partners, an offshore private equity firm, and Tokyo’s Global Financial Support Co. (GFS) investment group come in and securitize them. At 8.4 percent annual returns, pink real estate funds are arousing interest in individual and institutional investors alike. Property managers can now update their facilities to attract even more business in what is generally recognized to be a recession-proof industry.