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Sage, Whitman Peterson partner to buy 7 US Courtyards

Sage Hospitality announced on Monday that it partnered with Whitman Peterson Capital Partners to purchase seven Courtyard by Marriott-branded hotels in the U.S. from Clarion Partners and C-III Capital Partners.

The amount of the purchase was not disclosed. Sage Hospitality, Denver, told HOTELS that US$23 million is planned to be invested for complete guestroom renovations as well as the implementation of the Marriott Courtyard Refreshing Business Lobby, included the Bistro dining concept, in the hotels. Sage will manage the hotels.

The hotels include:

  • the 134-room Courtyard Dallas LBJ at Josey, located in Dallas
  • the 107-room Courtyard Marietta Windy Hill, located in Atlanta
  • the 111-room Courtyard Atlanta Norcross/Peachtree Corners, located in Norcross, Georgia
  • the 134-room Courtyard Atlanta Marietta/I75 North, located in Marietta, Georgia
  • the 134-room Courtyard Dallas Addison/Midway, located in Addison, Texas
  • the 133-room Courtyard Detroit Southfield, located in Southfield, Michigan
  • the 109-room Courtyard Cleveland Beachwood, located in Beachwood, Ohio

“Our national investment, operating, and capital projects teams allow us to source, reposition, and efficiently operate one-off assets or large portfolios across the country — and having a significant allocation of capital toward this effort really opens up great opportunities for us,” said Michael Everett, CIO at Sage Hospitality.

Sage said the purchase marks the onset of a programmatic investment strategy between Sage and Whitman Peterson to acquire a sizable portfolio of select-service hotels in need of high-impact capital, operational, and/or brand improvements.

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