Spark GHC, a private real estate joint venture between Spark Hotels and Green Harvest Capital focused on hospitality assets in the U.S. Midwest, has made three acquisitions and/or investments in northeast Ohio, IHG Hotels & Resorts branded, hospitality assets.
The investments are in select service and extended stay assets. The three investments add to Spark GHC’s existing portfolio of IHG, Marriott and Hilton branded properties. These are the 12th, 13th and 14th investments made by the sponsors since 2018 and increases the combined Spark GHC assets under management above $250 million.
“These assets provide us a great mix of cash generation and value add potential,” says Amit Patel, Sparks Hotels president, and Bhavesh Lad, COO. “As we’ve noted in the past, we have the right team to execute on hospitality assets in this difficult capital markets environment, and the closing of these three acquisitions over the past two months gives us even more certainty.”