At JMK5 Holdings, we’ve always believed in the power of restoration—not just of buildings, but of potential, of communities, and of legacy. That belief has guided every decision we’ve made, from transforming forgotten spaces into vibrant hubs to knowing when it’s time to hand a project over to its next steward.
That’s exactly where we found ourselves with the Commodore on the Beach Hotel in Galveston—a mid-century icon along Seawall Boulevard that holds decades of memories for locals and visitors alike. After acquiring the property in 2021 and investing heavily in its transformation, we’ve now officially passed the torch to Good Bull Investments, a firm ready to bring new energy into the Galveston hospitality market.
Honoring the Past While Looking to the Future
When we first acquired the Commodore Hotel, we saw more than an aging building—we saw a piece of Galveston’s story worth preserving. It had been overlooked and underutilized for years, but its bones were solid, and its potential was undeniable. With Jerome Karam’s son, Joshua, leading the renovation effort and his daughter, Joann Marilyn, designing the interiors, this project quickly became a family mission.
We completed most of the room renovations and set the stage for something truly special. But as we looked at our growing portfolio, especially the larger-scale, high-impact projects we’re currently leading, it became clear that the timing was right to make a transition.
This wasn’t about pressure or necessity—we were fully current on the property. It was about prioritizing. The Commodore deserved an owner whose sole focus was hospitality, and Good Bull Investments was ready to step into that role.
Why We Chose to Sell
Selling a property isn’t always just a business decision. For us, it’s personal. Every building we touch reflects our values and our vision, and we only move on when we’re confident that the next owner will uphold that legacy.
Good Bull’s interest in the Commodore came at the right moment. They were willing to acquire it in its current condition, knowing it still needed additional work, especially on the pool and elevator systems. They recognized what we had already invested and committed to seeing the project through. That kind of alignment isn’t always easy to find in this business.
Their plan to reopen the hotel before Mardi Gras and to pick up where we left off with construction signals their readiness to carry the momentum forward.
A Legacy of Revitalization in Galveston and Beyond
The Commodore is far from the only project we’ve undertaken in Galveston County. From day one, JMK5 Holdings has been about more than acquiring real estate—we’ve made it our mission to revitalize landmark properties that have been neglected or forgotten.
One of our most high-profile projects has been the Mall of the Mainland, which we’ve transformed into the Mainland City Centre. What was once a struggling retail center is now a thriving entertainment and commercial destination—complete with restaurants, fitness centers, cinemas, and family-focused experiences. That project wasn’t just a win for us—it was a win for Texas City and the entire region.
Similarly, our work at the Falstaff Brewery in Galveston converted a piece of the city’s industrial history into a multi-use venue with event space, storage, and plans for future hospitality use. These aren’t just real estate plays—they’re community investments.
Making Room for the Next Big Vision
With Good Bull stepping into the Commodore project, we’re able to shift our focus to what we consider to be one of the most ambitious developments we’ve ever taken on: the redevelopment of the Gulf Greyhound Park in La Marque.
We’re transforming the former dog racing facility into a 12,000-seat concert arena built for A-list entertainment and large-scale events. It’s an ambitious undertaking, but it’s exactly the kind of marquee project that represents the future of JMK5 Holdings. We’re also continuing to work on properties along Westheimer in Houston, another area with untapped potential we’re excited to unlock.
As we move forward, we’re doing so with intention. Our strategy is to concentrate our energy and resources where they’ll make the greatest impact—not just for our firm, but for the communities we serve. That means sometimes stepping back from smaller or mid-sized properties and ensuring they’re placed in capable hands that can take them to the next level.
What This Means for Galveston
We’re proud of the work we’ve done at the Commodore Hotel, and even more proud that the progress we made will live on through Good Bull’s efforts. They’ve shown a genuine commitment to Galveston and have already acquired additional assets we once held, including a shopping center in Friendswood and a cruise ship parking property.
Their entrance into the hospitality market is a good thing for Galveston. It signals a belief in the city’s future, its tourism, and its charm. And from where we stand, that’s exactly the kind of optimism this city deserves.
Staying True to Our Core Values
At JMK5 Holdings, our story has always been about more than just buildings. It’s about reviving the forgotten, creating spaces where people gather, live, and celebrate.
The Commodore’s sale is a reflection of that philosophy. We didn’t just walk away; we handed it off with care. And that same approach is guiding us as we take on even bigger opportunities that promise to redefine entertainment, retail, and hospitality across the region.
We’ll continue doing what we’ve always done: identifying iconic spaces, reimagining what they can be, and investing the time, heart, and capital it takes to bring them back to life. Whether it’s a beloved hotel, an abandoned mall, or a shuttered stadium, we see potential where others see risk—and that’s what keeps us moving forward.
Want to see what we’re building next? Stay connected with us here at JMK5 Holdings as we continue transforming landmarks across Galveston, Texas City, Houston, and beyond.
Let’s keep shaping what’s possible—together.
