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Vivo Investments, LLC has secured a $45-million loan from Parkview Financial to acquire a two-tower hotel in downtown Baltimore for conversion into 708 family units.

Vivo Investments Secures $45M Loan to Acquire, Convert Baltimore Hotel to Residence

Vivo Investments, LLC — a CA-based private real estate investment and property management company that specializes in converting low-demand hotels to efficiency apartment complexes — has acquired a two-tower hotel asset located in downtown Baltimore for conversion into 708 family units.

Parkview Financial provided a $45-million loan for the project, which includes acquisition of the vacant property that previously served as a dual-branded Radisson and Holiday Inn.

“We believe that as renters get priced out of more expensive nearby cities such as neighboring Washington DC, this project will attract young renters looking for like-new, but affordable units in a prime location of downtown Baltimore,” said Paul Rahimian, CEO and founder of Parkview Financial.

The property consists of two buildings, one 23 stories and the other 27 stories, that together total 448,516 square feet and includes 275 parking spaces. The property will be converted studio, one- and two-bedroom units and offer multifamily-centric amentities.

Vivo Investments, LLC has converted 21 low-demand hotels to apartment assets nationwide.

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Parkview Financial's Rahimian

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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