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Atlanta & Southeast  + Southeast  + Apartments  | 
Blaze Capital Partners and Argosy Real Estate Partners have acquired Spoke Savannah with intentions of converting the hotel into a multifamily community.

Blaze, Argosy Acquire Savannah Extended-Stay for Next Hotel-to-Multifamily Conversion

Blaze Capital Partners has acquired Spoke Savannah, an extended-stay hotel just south of Savannah’s historic downtown district, in partnership with Argosy Real Estate Partners. The acquisition marks the partnership’s fourth hotel-to-multifamily conversion since March 2021.

Charleston, SC-based Blaze plans to convert the hotel into a 106-unit multifamily community and invest roughly $3 million in capital improvements.

“As one of the fastest growing markets and economic centers in Georgia, Savannah presents a unique opportunity for us to replicate the success we’ve seen with hotel-to-multifamily conversions in other high-growth markets,” said Blaze co-founder and managing partner Eddy O’Brien.

“As people and companies continue to flock to cities like Savannah, our hotel conversion strategy responds to a growing need for more diverse and affordable rental housing options,” added Blaze co-founder and managing partner Chris Riley. “We’re proud to deliver an attractive community at an attainable price point that otherwise wouldn’t be possible through ground-up development.”

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Inside The Story

Blaze Capital Partners’ O’Brien

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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