Good Bull Investments Acquires Historic Commodore Hotel from Jerome Karam’s JMK5 Holdings

GALVESTON, TX, June 24, 2025 /24-7PressRelease/ — Good Bull Investments, a private equity and real estate investment firm based in The Woodlands, has announced the acquisition of the iconic Commodore on the Beach hotel from JMK5 Holdings, the real estate firm led by prominent developer Jerome Karam.

Located at 3618 Seawall Blvd. in Galveston, the 92-room mid-century hotel represents Good Bull Investments’ first foray into hospitality. The firm plans to complete renovations and reopen the property in time for Mardi Gras 2026, with construction expected to resume within the next 30 days under the direction of WC Construction.

This acquisition marks a significant transition for JMK5 Holdings, which has spent the past several years revitalizing historic and underutilized properties across Galveston County. Jerome Karam, a respected developer and attorney, originally acquired the Commodore in 2021 and oversaw substantial renovations, including work led by his son Joshua Karam and interior design by his daughter, Joann Marilyn Karam.

“I wasn’t looking to sell, but it was the right time,” said Jerome Karam. “JMK5 Holdings is shifting focus to marquee redevelopment efforts, and this transaction allows us to allocate resources to projects with even greater community impact.”

Among those projects is the transformation of the former Gulf Greyhound Park into a 12,000-seat A-list concert venue in La Marque, and ongoing revitalization efforts on Westheimer in Houston. These strategic moves build upon JMK5’s track record of breathing new life into high-profile properties, such as the mall of the mainland redevelopment in Texas City and the repurposing of the historic Falstaff Brewery into a multi-use event and storage space.

Good Bull Investments has also acquired a commercial shopping center in Friendswood and a cruise ship parking property in Galveston from JMK5, further signaling their growing presence in the region. “We’re excited to continue the progress JMK5 started,” said Tina Blake, Vice President of Operations for Good Bull Investments. “This is an exciting entry point for us into hospitality, and we look forward to opening the Commodore’s doors to the public soon.”

As JMK5 Holdings continues to prioritize large-scale redevelopment, the sale of the Commodore Hotel reflects the firm’s evolving focus and ongoing legacy of transforming communities across Galveston County and beyond.

About JMK5 Holdings
Founded and led by real estate developer Jerome Karam, JMK5 Holdings is a Texas-based firm specializing in the acquisition, redevelopment, and revitalization of landmark commercial properties. With a portfolio that spans Galveston, Texas City, La Marque, and Houston, JMK5 has played a pivotal role in restoring community assets such as the mall of the mainland, Falstaff Brewery, and Gulf Greyhound Park. The firm is known for its commitment to adaptive reuse, family involvement, and long-term economic growth through strategic redevelopment.

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