SALIDA, COLO. — Prime Investment Properties has arranged the sale of Silver Ridge Lodge in Salida. An undisclosed California-based buyer acquired the motel for an undisclosed price. The recently renovated motel features 35 guest rooms, an owner’s quarters and a four-unit building dedicated to staff housing. Dan Emert of Prime Investment Properties and Hotel Brokers International represented the undisclosed seller and assisted the buyer in the transaction.
NEW YORK CITY — W Hotels, part of Marriott Bonvoy’s collection of 30 hotel brands, has completed the $100 million renovation of W New York – Union Square, a 256-room luxury hotel in Manhattan. Locally based Rockwell Group, the original architect behind the hotel’s debut in 2001, led the renovation. Marriott International Inc. (NASDAQ: MAR) has owned and operated the hotel since acquiring the property in October 2019 for $206 million. Located at 201 Park Ave. S in Manhattan’s Union Square neighborhood, the transformation of the hotel has been reimagined to preserve the original historic architecture while launching as the brand’s global flagship property. The property opened in 1911 as the headquarters office for Guardian Life Insurance Co. of America and was converted as a W hotel in 2000. “W New York – Union Square holds a special place in our global portfolio. It is at the heart of our brand, powered by the pulse of our birthplace, New York City,” says George Fleck, senior vice president and global brand leader of W Hotels. The overhaul included the hotel’s entrance, which now has a remodeled, carpeted staircase, houndstooth banquette welcome desks, marble floors and a mural by artist Shantell Martin. The staircase leads to …
SANTA BARBARA, CALIF. — Concord Summit Capital has arranged $16.5 million in C-PACE construction financing for Marriott Tribute Hotel, a hospitality project underway in Santa Barbara. Tyler Beauregard of Concord Summit Capital sourced the financing through Hall Structured Finance on behalf of the borrower, Newport Beach, Calif.-based Stratus Development Partners. Marriott Tribute Hotel will offer 105 guest rooms and a rooftop amenity space overlooking the Pacific Ocean. Construction is slated to commence this month with completion scheduled for 2027. Stratus Development Partners is a full-service developer with more than 60 years of combined institutional real estate experience and a track record spanning more than $1.5 billion in development across high-barrier-to-entry markets.
ALBUQUERQUE, N.M. — Hunter Hotel Advisors has arranged the sale of Hyatt Place Albuquerque/Uptown, located at 6901 Arvada Ave N.E. in Albuquerque. An institutional seller sold the asset to Sun Capital Hotels for an undisclosed price. The six-story hotel offers 126 guest rooms, 1,127 square feet of meeting space, a business center, 24-hour fitness center, an outdoor pool and dining options, including the Breakfast Bar and The Placery lobby bar. Brian Embree of Hunter Hotel facilitated the transaction.
PLANO, TEXAS — Locally based hospitality owner-operator NewcrestImage has purchased the 176-roomNYLO Dallas Plano hotel, which is part of the Tapestry Collection by Hilton family of brands. The five-story hotel is located within the 2,600-acre Legacy District business park and features a 4,000 square-foot patio surrounding a heated outdoor pool. NewcrestImage plans to implement a value-add program. The seller and sales price were not disclosed.
ATHENS, GA. — Hunter Hotel Advisors has arranged the sale of Hyatt Place Athens, a 190-room hotel located at 412 N. Thomas St. in downtown Athens. The buyer, a local investor, purchased the hotel for an undisclosed price. Tim Osborne of Hunter Hotel Advisors brokered the transaction, while Pyramid Global Hospitality has been selected to manage the hotel. Paul Breslin of Horwath HTL and Andrew Cajka of Southern Hospitality Group, the hotel’s part-owner and operator, advised the seller, an entity doing business as HP Athens LLC. Built in 2017, Hyatt Place Athens features nearly 4,000 square feet of meeting space, a business center, 24-hour fitness center, breakfast bar and a lobby, as well as a rooftop bar. The hotel is also connected to The Classic Center, a mixed-use convention center and performing arts venue, and offers direct access to the Akins Ford Arena event hall.
MIAMI — Madison Newbond, a lending platform of Madison Realty Capital and Newbond Holdings, has originated a $79.3 million loan for the refinancing of JW Marriott Marquis Miami, a 41-story hotel located at 255 Biscayne Blvd. Way in downtown Miami. Paul Stasaitis, Kevin Davis, Mark Fisher and Henry Winchester of JLL arranged the three-year, floating-rate loan. The 357-room hotel was built in 2010 by the borrowers, MetLife Investment Management and MDM Group, and is part of the four-building Met Square mixed-use complex. The hotel comprises 313 JW Marriot Marquis-branded rooms and 44 Hotel Beaux Arts-branded rooms, which are part of the Marriott’s Autograph Collection and operates as a hotel within a hotel. Amenities include an infinity pool, NBA-sized indoor basketball court, lounge, spa, fitness center, meeting space, ballroom and food-and-beverage outlets. In 2023, MetLife and MDM Group finished a $16 million renovation to upgrade the hotel’s guestrooms, public areas and amenities. The duo plans to make more upgrades beginning next year.
HOUSTON — Partners Capital, the investment arm of Partners Real Estate, has purchased the 162-room Homewood Suites by Hilton — Houston Galleria hotel. The extended-stay hotel was originally built in 2006 and had an average nightly occupancy rate of 84 percent at the time of sale. Following the 2026 World Cup, Partners Capital will commence a multi-million dollar renovation of the hotel that will include upgrades to guestrooms, public areas and the building exterior, as well as the modernization of several building systems. The seller and sales price were not disclosed.
NASHVILLE, TENN. — Arriba Capital has provided a $67 million construction loan for a dual-branded hospitality project in Nashville’s East Bank district. The hotel development, which will sit adjacent to Oracle’s upcoming $2 billion campus, will feature rooms branded under Hilton’s Home2 Suites and Hampton Inn flags. The borrower is a Southeast-based developer that plans to deliver the hotel project in early 2027.
HEBER VALLEY, UTAH — Angstrom Development Group has announced plans for The Slope, a new mixed-use resort project in Heber Valley, roughly 50 miles southeast from Salt Lake City International Airport. Situated along the Provo River, the development will feature an 86-room resort and more than 100,000 square feet of retail space. The Slope will also include 200 hotel-branded residences, which will be available for purchase or for short-term rentals. Residences at the project will be fully furnished, with rentals operated by the hotel brand’s professional management program. In addition to two- and three-bedroom condos located within the hotel, residential units will include four-bedroom, multistory villas. The villas will feature expansive patios and rooftop decks with hot tubs and saunas. Waterways, bike paths and pedestrian alleys will connect the development, and the resort will offer access to skiing, mountain biking, hiking trails, golfing and boating. Austin, Texas-based Angstrom Development Group develops high-end residential, mixed-use and resort projects across premier markets. — Hayden Spiess
