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Hospitality Real Estate JV Acquires Downtown Cleveland Hampton Inn
Spark GHC, a private real estate joint venture focused on hospitality assets in the Midwest, has acquired the Hampton Inn by Hilton – Downtown Cleveland. Terms of the acquisition weren’t disclosed.
The acquisition provides a strong footprint for the JV in the downtown market and adds Hilton to its existing portfolio alongside Marriott and IHG brands. This is the 11th acquisition for the sponsors since 2018 and increases combined Spark GHC assets under management to above $100 million.
Spark GHC is a JV between Spark Hotels, a developer, acquirer, and operator of Ohio-based hospitality assets, and Green Harvest Capital, an asset manager of Northeast Ohio-based multifamily assets.
“We are ready to make this hotel the premier select service asset in Downtown Cleveland,” said Spark Hotels COO Bhavesh Lad. “We have already started coordinating with Hilton and third-party contractors to tour the facilities and finalize bids for our multi-million-dolar capital improvement plan.”
- ◦Sale/Acquisition
