The Residence Inn in Monmouth County is its eighth DST offering since 2022
Peachtree Group recently launched the 114-key Residence Inn Ocean Township along the Jersey Shore in New Jersey, its eighth DST offering since launching the program in 2022.
Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
PEACHTREE GROUP RECENTLY launched the 114-key Residence Inn Ocean Township along the Jersey Shore in New Jersey, structured as a Delaware Statutory Trust. This marks the company’s eighth DST offering since launching the program in 2022.
The Residence Inn is in Monmouth County, one of the wealthiest counties in the U.S., known for its high median income and vibrant year-round economy, Peachtree said in a statement.
“This newly developed property represents everything we look for in a DST offering: strong market fundamentals, a leading extended-stay brand, and long-term upside driven by secular tailwinds in travel,” said Tim Witt, Peachtree’s president for 1031 exchange and DST products.
Atlanta-based Peachtree is led by Greg Friedman, managing principal and CEO; Jatin Desai, managing principal and CFO; and Mitul Patel, principal.
The hotel benefits from its proximity to beach destinations such as Asbury Park, Long Branch, and Sandy Hook, the statement said. The region’s diverse economy—anchored by healthcare, education, and technology—drives consistent lodging demand throughout the year.
Looking ahead, Netflix is investing $900 million to redevelop nearby Fort Monmouth into its primary East Coast production hub, a project expected to create 3,500 construction jobs and 1,500 permanent jobs, while also boosting hospitality demand.
“With the opening of Residence Inn Ocean Township in 2024, we’re providing investors access to a debt-free, income-generating asset in a premier coastal market,” Witt said. “It’s a strategic fit for those seeking tax deferral through a 1031 exchange while maintaining exposure to one of the most resilient sectors in commercial real estate.”
Peachtree’s DST properties offer a compelling option for 1031 exchange investors seeking to reinvest proceeds from the sale of appreciated real estate while deferring taxes and maintaining exposure to the hotel sector, the statement said. The firm’s eight DST offerings total more than $220 million in debt-free real estate transactions.
In February, Peachtree appointed Jordan Hylton as senior vice president of multifamily acquisitions for its DST platform, which recently expanded its portfolio to include multifamily assets.
Sagemont Hotels opened the five-story, 128-key Homewood Suites in Fremont, California.
Offers studio, one-bedroom and two-bedroom suites.
Located 12 miles from San Jose Mineta International Airport.
Homewood Suites by Hilton Fremont is now open in Fremont, California. The five-story, 128-key property is operated by Sagemont Hotels, led by President and CEO Hiral Patel.
The hotel is near Levi Stadium, the University of California Berkeley, Stanford University, Cal State East Bay and Mission Peak Regional Preserve, Sagemont said in a statement. It is 12 miles from San Jose Mineta International Airport.
“We are thrilled to celebrate the opening of Homewood Suites Fremont with the Fremont community,” said Ajay Raman, Sagemont’s president of operations. “This dynamic city, known for its innovation, diversity and community spirit, provides the perfect backdrop for our newest property. We’re confident that Homewood Suites will enhance the experience for Fremont’s visitors while contributing to the continued growth and vitality of the local economy. We look forward to the lasting memories this hotel will help create for all who walk through its doors.”
The property features studio, one-bedroom and two-bedroom suites, the statement said. The property includes a swimming pool, fitness center, EV charging stations, covered lower-level parking, an outdoor patio with a fire pit and 600 square feet of meeting space for up to 40 people.
In May, Whitestone Capital, a division of Whitestone Cos. led by CEO Jay Batra, reopened the dual-branded Hilton Garden Inn and Homewood Suites in Colorado Springs, Colorado.
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Courtyard by Marriott San Bernardino Loma Linda is now open in Loma Linda, California. The 125-room hotel is operated by Sagemont Hotels, led by President Hiral Patel.
The hotel is near Loma Linda University Health, Loma Linda University School of Public Health, Jerry L. Pettis Memorial Veterans Hospital, San Bernardino National Forest and San Bernardino Industrial Park, according to a statement. It is also near Redlands Industrial Park, University of Redlands and California State University, San Bernardino.
“On behalf of the city, I am pleased to welcome the Courtyard by Marriott San Bernardino Loma Linda to our community,” said Phil Dupper, mayor of Loma Linda. “Loma Linda is known for its commitment to health, hospitality and harmony and the hotel’s arrival adds to the spirit of excellence we strive for. We’re excited to see the positive impact on our local economy, our visitors, and the continued growth of our city.”
The 4-story hotel includes a fitness center and 594 square feet of meeting space for up to 20 people.
Red Roof Inn Sanford recently opened in Sanford, North Carolina, after a $1.3 million renovation.
Red Roof Inn Sanford is now open in Sanford, North Carolina. The 122-room property, owned by Jay Dan Gigev 2501 LLC led by Raviraj Viradiya, recently completed a $1.3 million renovation.
The hotel is near downtown Sanford, Central Carolina Community College, Devils Ridge Motocross, Raven Rock State Park, Aloha Safari Park, Jordan Lake State Recreation Area, the Railroad House Museum, Temple Theatre, Hugger Mugger Brewing Company, Sanford Antique Mall and the Mural Art Trail. Fayetteville Regional Airport and Raleigh-Durham International Airport also are nearby.
The hotel has an outdoor pool and is pet friendly.
Zack Gharib, Red Roof’s president, recently said the company is focusing on strategic investments in people and technology to advance the brand amid challenges.
What makes this IHG hotel unique in Coralville, Iowa?
IHG HOTELS & RESORTS’ dual-brand avid hotels Coralville and Candlewood Suites Coralville in Coralville, Iowa, are now open. The property is owned by Westcor JD Royal Hospitality, led by Mona and Pankaj Patel.
This is the brand’s 80thproperty in the U.S., second in Iowa and fourth dual-branded avid hotels and Candlewood Suites since the prototype launched in 2021, IHG said in a statement.
“We’re proud to introduce the first avid hotels and Candlewood Suites dual-brand property to Coralville, as this hotel is one of the largest of its kind in the U.S.,” said the Patels. “This pairing is designed to meet the needs of both short-term and extended-stay guests, delivering a stay that feels just right. At avid hotels Coralville – Iowa City, every detail focuses on the essentials—no matter where your travels take you.”
The 71-room avid and 68-room Candlewood are near the University of Iowa and the Antique Car Museum of Iowa and includes a fitness center.
Avid hotels, IHG’s second-largest brand by system size, is its fastest-growing new-build brand with 131 hotels in the pipeline. In February, avid hotel Harrisburg NE – Hershey Area opened in Pennsylvania with 80 rooms, operated by SNP Management, LLC. Following avid hotel Coralville – Iowa City, Score Hospitality Inc will open avid hotel Victorville – Hesperia, its first in California.
Karen Gilbride, IHG’s vice president for avid hotels, Atwell Suites and Garner hotels, said avid hotels drive strong commercial results and guest loyalty, reflected in some of the highest satisfaction scores in the IHG portfolio.
“Its approach is simple yet effective,” she said. “Since opening our first property in 2018, we’ve grown to 80 hotels and are accelerating our momentum—expanding into new markets and strengthening our presence in existing ones. It’s clear our ‘just right’ strategy continues to resonate with both guests and owners. Looking ahead, we remain focused on enhancing owner returns and elevating the guest experience. One key initiative this year is our revamped breakfast offering—delivering more of what guests want at a reduced operating cost to owners—which we’re excited to roll out at avid hotel Coralville – Iowa City.”
IHG nearly doubled its global conversion signings from 2023 to 2024, with conversions making up about 60 percent of global openings and 40 percent of signings in the first quarter of 2025. Brands including Vignette Collection, voco hotels and Garner hotels recorded the most openings and signings last year.
Who bought the Hampton Inn Nashville-Airport hotel?
TARA INVESTMENTS RECENTLY sold the 111-key Hampton Inn & Suites Nashville-Airport in Nashville, Tennessee to Image Hotels. Charlotte-based Tara is led by Managing Partner Amit Patel, while Savannah-based Image is led by CEO and Chairman Jay Patel and President and COO Kal Patel.
The hotel is near River North, a mixed-use development, and Nashville Yards, a $1 billion, 6 million-square-foot project with office space, a convention center, and an entertainment venue. It serves leisure and business travelers and includes a fitness center and outdoor pool.
“We continue to trust Mayank and Hunter with our portfolio, and they were instrumental in this transaction,” said Amit Patel. “This disposition supports our strategy of harvesting capital and reinvesting in high-barrier-to-entry developments with long-term growth potential. The returns from this investment will help us advance future projects in our pipeline.”
Image is a management and development company operating across the coastal South since 1978, according to its website.
The hotel, along Interstate 40 and next to Nashville International Airport, benefits from its location in a key growth market, Hunter said, citing Cushman & Wakefield data. Nashville had 16.8 million visitors in 2023, generating $10.56 billion in direct local spending. The city is a hub for corporate demand and is home to more than 500 healthcare companies and employers such as Bridgestone.
“We are pleased to announce another successful transaction for a long-standing client,” said Mayank Patel. “The sale of the Hampton Inn allows Tara Investments to focus on new developments in Nashville and Charleston, South Carolina.”
In April, Hunter secured $31.47 million in financing for three hotels, executed by Adeel Amin, senior vice president of capital markets.