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Hospitality

HospitalityLoansSoutheastTennessee

Newmark Arranges $51M Refinancing for Virgin Hotels Nashville

by John Nelson

NASHVILLE, TENN. — Newmark has arranged a $51 million loan for the refinancing of Virgin Hotels Nashville, a 14-story hotel located at 1 Music Square W in Nashville’s Music Row district. Jordan Roeschlaub, Nick Scribani, Tyler Dumon, Holden Witkoff and Tate Keir of Newmark arranged the loan through Apollo. The borrower, Virgin Group, opened the 262-room hotel in July 2020. Virgin Hotels Nashville features multiple food-and-beverage eateries, including a rooftop bar, speakeasy and a signature restaurant with indoor and outdoor dining space. Other features include a rooftop pool with private cabanas, a fitness center and more than 15,000 square feet of meeting and event space.

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AcquisitionsHospitalityNew YorkNortheast

Maine Course Hospitality Buys 113-Room Hotel in Saratoga Springs, New York

by Taylor Williams

SARATOGA SPRINGS, N.Y. — Regional owner-operator Maine Course Hospitality Group has purchased the 113-room Homewood Suites Saratoga Springs hotel, located north of Albany. The extended-stay hotel was built in 2017 and offers amenities such as a fitness center, business center, indoor pool and a sport court. Denny Meikleham and John Kluh of Berkadia represented the seller, a joint venture between DelMonte Hotel Group and XSS Hotels, in the transaction.

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DevelopmentHospitalityTexas

Crow Holdings to Undertake $100M Renovation of Hilton Anatole Hotel in Dallas

by Taylor Williams

DALLAS — Crow Holdings will undertake a $100 million renovation of the Hilton Anatole, a 1,610-room hotel located northwest of downtown Dallas. Trammell Crow Co. originally developed the hotel on a 52-acre site in 1979. The renovation will be carried out in phases over the next several years, with completion slated for 2028. Updates to 718 guestrooms were recently completed, and the next phase will include renovations to another 899 guestrooms and 600,000 square feet of meeting and event space. The project will also enhance the hotel’s food-and-beverage offerings, which at present include nine restaurants and bars. The Hilton Anatole also houses a water park and curated art from the Crow family collection.

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DevelopmentHospitalitySoutheastVirginia

Shamin Hotels Breaks Ground on $160M Hilton-Branded Hotel, Conference Center in Richmond

by Abby Cox

RICHMOND, VA. — Virginia’s largest hotel owner and operator Shamin Hotels has broken ground on Hilton Richmond The Mondelle, a 270-room full-service hotel and conference center located in Chesterfield County. The $160 million project will anchor Springline at District 60, a $1 billion mixed-use development underway at the intersection of Midlothian Turnpike and Chippenham Parkway. The Mondelle will feature more than 30,000 square feet of meeting space, including a 12,600-square-foot grand ballroom. The 11-story hotel will also include a signature restaurant with outdoor dining, a second-floor indoor/outdoor executive meeting center with a biergarten, a rooftop restaurant and cocktail bar, as well as an infinity pool. Truist Bank provided construction and bond financing for the project, which represents the first full-service hotel and conference center to be constructed in the Richmond market since 2009.

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AcquisitionsHospitalitySoutheastTennessee

Bradford Allen Acquires 193-Room TownePlace Suites Hotel in Nashville

by Abby Cox

NASHVILLE, TENN. — Bradford Allen has acquired TownePlace Suites Nashville Midtown, a 193-room hotel located near Vanderbilt University in Nashville’s Midtown neighborhood. Opened in 2021, the 10-story hotel features a fitness center, onsite parking, meeting space and a rooftop lounge with grilling stations. The hotel’s studio guest suites also offer full kitchens and oversized living, work and sleep areas. Additionally, a convenience store and the hotel’s 60-seat restaurant and bar are located adjacent to the fifth-floor sky lobby. The first floor also includes two retail spaces, which are leased to Subway and Takumi, a Japanese restaurant scheduled to open in first-quarter 2026. Ron Danko and James Maher of CBRE represented the seller, 3H Group, in the transaction. The sales price was not disclosed.

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AcquisitionsHospitalityNew YorkNortheast

Partnership Acquires 607-Room InterContinental New York Times Square Hotel

by Taylor Williams

NEW YORK CITY — A partnership between two hospitality owner-operators, Gencom and Highgate, as well as New York City-based investment firm Argent Ventures, has acquired the 607-room InterContinental New York Times Square hotel in Midtown Manhattan. According to Hospitality Investor and The New York Business Journal, the sales price was $230 million. The 34-story hotel offers approximately 20,000 square feet of meeting and event space, multiple onsite food-and-beverage options and a 24-hour fitness center. The new ownership plans to renovate guestrooms, public spaces and dining venues. Eastdil Secured represented the seller, a joint venture between Tishman Realty and MetLife Investment Management, in the transaction and arranged acquisition financing for the deal through Monroe Capital.

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Edition_nashville
HospitalityLoansMultifamilySoutheastTennesseeTop Stories

Tidal Real Estate Receives $400M in Construction Financing for Nashville Edition Hotel & Residences 

by Abby Cox

NASHVILLE, TENN. — Tidal Real Estate Partners has received $400 million in construction financing for The Nashville Edition Hotel & Residences, a 28-story mixed-use tower that is under construction in the state capital’s Gulch district. The project will comprise 261 hotel rooms and 84 condos. Tidal is developing The Nashville Edition Hotel & Residences in collaboration with Left Lane Development and Marriott International. The project team also includes architecture firms ESa and INC Architecture & Design, as well as Corcoran Reverie of Corcoran Sunshine Marketing Group. The construction financing, which includes both debt and equity, was provided by affiliates of KSL Capital Partners, Madison Realty Capital, Newbond Holdings and affiliates of the developer.  “The Nashville Edition is the type of design-forward, experiential project that elevates an entire neighborhood, and this financing reflects our conviction in both the long-term strength of The Gulch and Tidal’s ability to deliver a truly landmark development,” says Josh Zegen, managing principal and cofounder of Madison Realty Capital. The hotel component will occupy the lower floors of the tower and will feature various amenities, including a double-height restaurant and bar, lobby lounge, a 50-foot heated saltwater pool with cabanas and a wraparound deck with bar and restaurant service. …

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DevelopmentHospitalityLoansNevadaTop StoriesWestern

Concord Summit Arranges $781M in Construction Financing for Four Seasons Private Residences Las Vegas

by Amy Works

HENDERSON, NEV. — Concord Summit Capital (CSC) has secured $781 million in construction financing for The Four Seasons Private Residences Las Vegas. Two Roads Development, Azure Resorts & Hotels and Luxus Developments are the borrowers. The full capital stack for the project’s vertical construction includes a $526 million senior loan from J.P. Morgan and $255 million in mezzanine and preferred equity from Sculptor Real Estate and Morning Calm Management. Kevin O’Grady and Tyler Beauregard of CSC served as exclusive advisors to the developers. Four Seasons Private Residences will consist of 171 condominium units and 21 custom-built single-family homes within MacDonald Highlands, a gated enclave in the foothills of Henderson, a city southeast of Las Vegas. Construction is underway, with completion slated for mid-2027. Residences will range from two to five bedrooms, all with views of the Las Vegas Strip. Wimberly Interiors is the interior architect for the project. The property will include roughly 90,000 square feet of Four Seasons amenities, including three outdoor pools and a high-end gym. Wolfgang Puck Fine Dining Group will operate an onsite restaurant. Additionally, the Four Seasons Private Residences features a first-of-its-kind collaboration with RH Contract, a division of luxury lifestyle brand and retailer RH, formerly …

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AcquisitionsHospitalityIllinoisMidwest

Pebblebrook Hotel Trust Sells Westin Michigan Avenue Chicago Hotel for $72M

by Kristin Harlow

CHICAGO — Pebblebrook Hotel Trust (NYSE: PB) has sold the 752-room Westin Michigan Avenue Chicago hotel for $72 million. Mark Perkowski of Draper and Kramer’s Commercial Finance Group arranged a $54 million acquisition loan on behalf of the buyer, Vinayaka Hospitality. A life insurance company provided the loan. The hotel is located at 909 N. Michigan Ave. along the Magnificent Mile. For the trailing 12 months that ended Sept. 30, the hotel generated earnings before interest, taxes, depreciation and amortization of $4.6 million and net operating income of $2.5 million, according to Pebblebrook.

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AcquisitionsHospitalityTexas

Hunter Hotel Advisors Arranges Sale of 100-Room Hotel in Bryan, Texas

by Taylor Williams

BRYAN, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 100-room Best Western Premier Bryan hotel in Central Texas. Built in 2009, the hotel offers 4,000 square feet of meeting and event space, an outdoor pool, fitness center and a business center. Kami Burnette of Hunter Hotel Advisors brokered the deal. The names of the buyer and the California-based seller were not disclosed. The new ownership plans to implement a value-add program.

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