CBRE Hotels Sells the Garfield Suites Hotel in Cincinnati, Ohio

Columbus, Ohio – December 16, 2013 – CBRE Hotels, acting as the exclusive advisor to Garfield House Limited Partnership, announced the sale of the 153-room Garfield Suites Hotel situated at 2 Garfield Place in Cincinnati, Ohio. The asset sold to Cincinnati Lodging Associates, a JV of Sun Development, Hotel Capital and Silver Rock, who will be converting the 16-story, all-suite hotel to a DoubleTree Suites.

The Garfield Suites Hotel is located in Cincinnati, which is known to be a vibrant destination with its major league sports, variety of tourist attractions, world class arts and culture and the recently opened Horseshoe Casino. 

The hotel boasts over 20,000 SF of leasable space, including a 7,053 square foot ground-level, outside-entry restaurant, as well as a two-floor fitness center. All guestrooms are suites with full kitchens and living rooms.

Eric Belfrage, First Vice President of CBRE Hotels in Columbus, and Peter Greene, First Vice President of CBRE Hotels in Chicago, advised Garfield House Limited Partnership in this transaction.

Bharat Patel, CEO of Sun Companies, noted, “Downtown Cincinnati is a dynamic Live-Work-Play environment, and the Garfield Suites Hotel was a fabulous opportunity! We recognized the mixed-use opportunity of an all-suite hotel with penthouse suites, office and ground floor retail space. The location is also tremendously dynamic between Kroger and Macy’s headquarters. The gentrification of the “Over the Rhine” neighborhood and the new casino add to the unique environment.”


CBRE Hotels is a specialized advisory group within CBRE Group, Inc. providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.