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.”