{"id":1004219940,"date":"2018-04-17T01:50:02","date_gmt":"2018-04-17T09:50:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004219940"},"modified":"2022-12-08T08:20:06","modified_gmt":"2022-12-08T16:20:06","slug":"investra-jv-grabs-major-hotel-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/investra-jv-grabs-major-hotel-portfolio\/","title":{"rendered":"Investra JV Grabs Major Hotel Portfolio"},"content":{"rendered":"

By Barbra Murray<\/p>\n

\"Hyatt<\/a>

Hyatt House Dallas Richardson, Richardson, Texas<\/p><\/div>\n

Hospitality Ventures Management Group and Investra Capital Group have added to their joint venture holdings. The partners recently closed the purchase of a 1,465-key portfolio of hotels operating under various Marriott and Hyatt brands.\u00a0HVMG will act as operator of the 12 hotels on behalf of the joint venture.<\/p>\n

The collection of assets, which consists of a dozen select-service hotels<\/a>, spans five states in the Southeast, Southwest and Midwest. \u201cAs we grow our footprint into the U.S., our acquisition philosophy aligns with HVMG\u2019s, as we both remain focused on assets in strong secondary and tertiary markets flanked by strong corporate, government, healthcare and university demand generators,\u201d<\/em> Mobeen Jassat, CEO of Investra Capital, said in a prepared statement.<\/p>\n

One-third of the portfolio is located in Texas and includes Courtyard Austin University and Fairfield Inn & Suites Austin University, in addition to suburban Dallas\u2019 Courtyard Dallas Addison Midway and Hyatt House Dallas Richardson. Another three hotels are sited in metropolitan Atlanta, Courtyard Atlanta Marietta I-75 North, Courtyard Atlanta Norcross Peachtree Corners and Courtyard Atlanta Marietta Windy Hill\/Ballpark. The group also includes Courtyard Grand Rapids Airport and Courtyard Detroit Southfield in Michigan, as well as Indiana\u2019s Fairfield Inn & Suites Indianapolis Airport and Residence Inn Indianapolis Airport. Completing the group is Courtyard Cleveland Beachwood in Ohio.<\/p>\n

Beyond the primaries<\/h2>\n

HVMG and Investra\u2019s strategy of focusing their acquisition efforts beyond the top U.S. hotel markets is a timely one. \u201cBecause they lagged during the initial stages of the CRE market recovery, economy properties, along with those in secondary or tertiary markets, are now projected to achieve the greatest gains in ADR and revenue per available room,\u201d <\/em>according to a 2018 forecast report by a team including Deloitte Development and the National Association of Realtors.<\/p>\n

HVMG and Investra\u2019s recent acquisition of the group of 12 hotels comes on the heels of the joint venture\u2019s purchase of an\u00a0Arkansas hotel portfolio<\/a>. In February, the partners acquired the 78-room\u00a0TownePlace Suites by Marriott Bentonville Rogers\u00a0and the 130-room\u00a0Candlewood Suites Rogers\/Bentonville, both located in Bentonville.<\/p>\n

Image courtesy of Hyatt<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Hospitality Ventures Management Group and Investra Capital Group acquired a collection of 12 select-service hotels located in secondary and tertiary markets across five states.<\/p>\n","protected":false},"author":969,"featured_media":1004506342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21751,23891,21742],"tags":[33860,33185,38045,33877],"class_list":["post-1004219940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-hotel","category-national","category-latest","tag-hospitality-ventures-management-group","tag-hyatt","tag-investra-investments","tag-marriott"],"acf":[],"yoast_head":"\nInvestra JV Grabs Major Hotel Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/investra-jv-grabs-major-hotel-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investra JV Grabs Major Hotel Portfolio\" \/>\n<meta property=\"og:description\" content=\"Hospitality Ventures Management Group and Investra Capital Group acquired a collection of 12 select-service hotels located in secondary and tertiary markets across five states.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/investra-jv-grabs-major-hotel-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-17T09:50:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T16:20:06+00:00\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Hyatt-House-Dallas-Richardson-Richardson-Texas.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/investra-jv-grabs-major-hotel-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/investra-jv-grabs-major-hotel-portfolio\/\",\"name\":\"Investra JV Grabs Major Hotel Portfolio - 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