PEG Cos. acquires U.S. hotel portfolio

PEG Cos. has acquired an eight-hotel portfolio in major U.S. markets.

PEG and PEG Capital Partners Fund III led a group of investors, with financing from Cantor Commercial Real Estate through brokers Academy Commercial and Berkadia, along with Ares Management  managing funds. The acquisition comes from a major global real estate investment group.

The portfolio includes seven Residence Inns by Marriott and one Courtyard by Marriott, totaling 1,052 hotel rooms. The properties are located in Sacramento, Santa Fe, St. Louis, Chicago, Boston, Tampa, Mesa and Charlotte.