PEG, a commercial real estate investment firm, opens the new-build Residence Inn Sacramento Cal Expo. The new extended-stay hotel, located near SAFE Credit Union, Cal Expo, and Heart Health Park, has 177 upscale apartment-style units.
“We are thrilled to officially open the doors to this incredible new Residence Inn,” said Loren Berkley, managing director, hospitality at PEG, in a statement. “This project is a prime example of our Residence Inn Replacement Strategy, which focuses on modernizing the extended-stay experience by bringing new, high-quality properties to market while maintaining a balanced supply.”
The new Residence Inn Sacramento is the latest Generation 9 prototype, with an array of premium amenities including:
- Expansive outdoor spaces with a barbeque grill and firepit
- Outdoor pool
- Putting green for leisure activities
- Fitness center with equipment and hydration station
- Flexible meeting space for business and social gatherings
- Electric vehicle charging stations to support sustainable travel
PEG previously owned and operated the legacy Residence Inn Sacramento, located approximately one mile away. Last October, PEG sold the existing property to buyers who plan to convert it into affordable residential units. Through this strategic transition, PEG remains net-neutral in terms of supply, simply replacing older inventory with a new, high-quality product. Additionally, PEG was able to retain many of the former hotel’s team members, bringing them over to the new Residence Inn…