The fund has 17 assets in various stages of development, lease-up, and stabilization and could begin dispositions as early as November 2022.

Located in U.S. markets with strong housing demand, the nine extended-stay hotels are poised for conversion into multifamily assets.

So far, the commercial real estate investment leader has acquired 14 discounted extended-stay hotels with the intent to convert them into quality Class B apartments in an effort to help solve the national housing affordability crisis.