Avia Lofts on Savoy is part of a large portfolio of extended-stay hotels that PEG Companies has acquired for the conversion into quality Class B multifamily housing communities. Asset conversion timing on each of the properties will vary based on when the highest and best use of each location is no longer as a hotel. Once converted, the properties will be rebranded under PEG's signature brand, designated specifically for the firm's extended stay conversion properties, Avia Apartments, and managed in-house by PEG Property Group.