Vivo Investments Announces Largest Acquisition: Transforming Extended Stay America Hotels into Attainable Housing in North Carolina

EL SEGUNDO, Calif., Dec. 21, 2023 /PRNewswire/ — Vivo Investments, a trailblazer in adaptive reuse and community building, is proud to announce its largest acquisition to date – the purchase of 587 units across five Extended Stay America hotels located in Charlotte, Durham, and Raleigh, North Carolina.

North Carolina’s dynamic economy and its growing need for sustainable housing solutions make it an ideal location for this transformative project. This monumental acquisition marks a significant stride in addressing the area’s housing shortage by converting these properties into affordably priced rental apartment buildings.

“This strategy aligns with our goal to build communities that are not just places to live, but opportunities for growth for our residents and the surrounding neighborhoods,” says Dan Norville, Vivo Investments’ Founder & CEO.

Vivo Investments’ commitment to resourceful and sustainable redevelopment practices like hotel-to-residential remodels is more than a business strategy – it’s a pledge to meet the needs of people, neighborhoods, and cities by making quality housing accessible and fostering community spirit.

For more information about Vivo Investments and our projects, please contact Leslie Moody.

About Vivo Investments

Vivo Investments LLC is a visionary real estate investment company focused on transforming underutilized properties into thriving, resilient communities. With a keen eye on sustainability and innovation, Vivo is dedicated to solving the housing crisis through adaptive reuse and a commitment to building economically resilient neighborhoods. More information can be found at VivoLiving.com and VivoInvestmentsLLC.com.

Contact:

Name: Leslie Moody

Title: Community Outreach

Company: Vivo Investments LLC

Phone: 310.525.9146

Email: [email protected]

Website: www.vivoinvestmentsllc.com

SOURCE Vivo Investments