July 26, 2019

PEG Companies Announces Acquisition of Eight Hotels Across United States

By deploying a creative strategy based on cap rate arbitrage, PEG Companies acquired a large portfolio of Marriott Residence Inns that has potential to undergo conversion.

PROVO, Utah, September 12, 2018 – PEG Companies (PEG), a leader in hospitality and multifamily real estate development across North America, today announced the acquisition of 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 (CCRE) through brokers Academy Commercial and Berkadia, along with Ares Management L.P. (ARES) 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 — located in Sacramento, Santa Fe, St. Louis, Chicago, Boston, Tampa, Mesa and Charlotte — grow PEG’s geographical footprint, while aligning perfectly with the firm’s urban and suburban-urban investment focus.


“We have a distinct approach for creating value for our investors,” said PEG CEO Cameron Gunter. “This portfolio represents significant time and collaboration by strategically acquiring well-performing Marriott properties in good locations and strong markets.”


Today’s acquisition announcement showcases PEG’s ability to originate and execute deals that provide investors with consistent cash flow and strong upside potential.


“One of the compelling aspects of this investment is the myriad of exit strategies available with these properties,” said PEG Chief Investment Officer Soren Halladay. “Our strong relationship with Marriott, coupled with our investment and development capabilities across multiple asset classes, allows us to be creative with not only the properties and their current uses but also further development opportunities within these specific markets. You have to be creative in today’s market in order to be successful.”


With 15 years of experience in commercial real estate, PEG has distinguished itself as a major force in the hospitality sector and in urban markets. PEG’s highly specialized, uniquely diversified leadership team works to establish strong relationships with key stakeholders in markets and builds long-term relationships of trust with local governments.


PEG uses localized knowledge and expertise in evaluation and execution of each investment opportunity. The firm takes a comprehensive approach to the entire value creation process – it is known for originating creative opportunities and hands-on involvement through project management, asset management and ultimate realization. Currently, PEG’s robust $1.4 billion pipeline includes assets in multifamily residential, student housing, mixed use and hospitality.



Founded in 2003 by Cameron Gunter, PEG Companies is a leading commercial real estate development and investment firm based in Provo, Utah. PEG focuses on developing quality projects that create value and return for its investors, end users and communities. The PEG team offers considerable experience in project design, engineering, financing, city entitlements, tax incentives, construction management, marketing and property management and offers a strategic combination of acquisition, rehabilitation and development capabilities. PEG owns and manages more than 35 hospitality assets across the U.S. and Canada, with over 4,230 multifamily housing units, and additional office, retail and industrial space across the West. For more information about PEG, visit
Academy Commercial is an aggressively expanding commercial brokerage firm with 50-plus years of combined experience analyzing loan opportunities for clients of all kinds. The finance company facilitates solutions through its lending relationships to help borrowers achieve ideal outcomes. The group’s specialties include Conventional, CMBS, Life Insurance, Agency (Fannie/Freddie), SBA, USDA, Bridge and FHA.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to multifamily and commercial property clients. Through an integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of clients’ assets.
Ares Management L.P. is a publicly traded, leading global alternative asset manager with approximately $121.4 billion of assets under management as of June 30, 2018, and 18 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader, based on assets under management and investment performance.
Since 2010, Cantor Commercial Real Estate (CCRE) has closed billions of dollars’ worth of loans. As a fully integrated commercial real estate finance company, CCRE originates competitively underwritten fixed-rate and floating-rate mortgages and mezzanine loans. CCRE clients benefit from the resources of the group’s global franchise and distribution platform.
Press Contact:

PEG Companies Closes on a 9-Property Hotel Portfolio for Conversion Into Multifamily Communities

Community Celebrates Grand Opening of The Green on Campus Drive

PEG Companies Breaks into Idaho Multifamily Market with Firm’s First Ever Build-for-Rent Project

New PEG Companies Fund to Pave the Way for Build-for-Rent Housing in the Mountain West

PEG Awarded ‘Best Full-Service Real Estate Company – Utah’ by BUILD Magazine

PEG Named #2 ‘Economic Engine’ by Utah Valley BusinessQ Magazine