GVM Hotel Partners (GVM), a hotel investment venture based at Dallas, has declared the purchase of five TownePlace Suites, a division of the Marriott International hotel chain for $30 million.
A property of Gatehouse Capital. Credit: Gatehouse Capital
Four of the hotels are situated in Texas markets such as Houston, College Station and Austin and the fifth hotel is located in Birmingham, Alabama. GVM Hotel Partners is a partnership between the associates of the Muse Family Office, Varro Hospitality and Gatehouse Capital.
This happened to be the initial purchase by GVM, which was constituted to buy and administer a portfolio of fiscally distraught extended-stay, limited-stay and select-service and premium-branded hotels. The partnership venture acquires broad and profound knowledge in the hospitality, real estate and investment markets while scoring its first ingress into the hotel market segment.
Among the venture partners, Gatehouse Capital, an investing company offers exclusive investment strategies and supervision for GVM venture and this portfolio. Varro Hospitality, a privately held hotel investment business, offers reporting, administration, re-development, asset management, due diligence and underwriting for the GVM partnership. John Muse as the largest investor lends his over 30 years of investment knowledge and experience gained as Chairman and co-founder of HM Capital.
The partnership has hired the services of Texas Western Manager to control these Marriot branded hotels along with others possessed by Texas Western Hospitality and other third party possessions.
Source: http://www.gatehousepartners.com/