REBusinessOnline

Partnership Sells 107-Room Hotel Indigo in Traverse City, Michigan

TRAVERSE CITY, MICH. — A partnership between JS Capitol and Hadidi Capital has sold the 107-room Hotel Indigo in Traverse City for an undisclosed price. The property, built in 2016, is located at 263 W. Grandview Parkway. Situated in the city’s waterfront Warehouse District, the hotel features heated underground parking, 5,500 square feet of meeting space, a ground-floor restaurant, business center and fitness center. Nate Sahn, James Johnson, Jack Johns and Anthony Leeds of CBRE …

Xenia Hotels & Resorts Acquires The Ritz-Carlton Denver for $100.2M

DENVER — Xenia Hotels & Resorts has purchased The Ritz-Carlton Denver, located at 1811 Curtis St. in downtown Denver, for $100.2 million, approximately $496,000 per key. The acquisition was funded with cash available on the company’s balance sheet. The 14-story hotel features 202 oversized rooms, including 47 suites, 13,000 square feet of meeting space, The Ritz-Carlton Spa and Elway’s Restaurant. The hotel is part of a mixed-use development that includes 25 luxury residences and …

NewcrestImage Opens 94-Room, Hilton-Branded Hotel in Amarillo

AMARILLO, TEXAS — Dallas-based hospitality developer NewcrestImage has opened a 94-room Tru by Hilton hotel in Amarillo, the first property of a three-hotel campus at the intersection of Interstate 40 and South Soucy Road on the city’s west side. The lobby includes bar tables and mini-hammocks, as well as a pool table and dining stations. The other two hotels in the development, a 90-room Hyatt Place and a 90-room Aloft, are slated to open in

Cronheim Hotel Capital Arranges $12.5 Acquisition Loan for Hotel Property in Pennsylvania

BREINIGSVILLE, PA. — Cronheim Hotel Capital has arranged a $12.5 million acquisition loan for a Holiday Inn in Breinigsville. The property is located approximately seven miles east of Kutztown. Built in 1988, the 175-room hotel includes 14,000 square feet of meeting space as well as a 10,660-square-foot ballroom. Cronheim secured the non-recourse, floating-rate loan with a three-year term on behalf of borrower Infinity Asset Management. The lender was undisclosed. The property will be …

Netherlands-Based Hotel Chain to Open 348-Room Location at Miami Worldcenter

MIAMI — Netherlands-based hotel chain citizenM has unveiled plans to open a 348-room hotel at Miami Worldcenter, a $2 billion mixed-use development in downtown Miami. The 12-story hotel will total 128,000 square feet and will be located along 2nd Avenue, adjacent to Miami Worldcenter’s pedestrian-only, open-air shopping promenade. The hotel will feature a swimming pool, bar and sun deck on the 10th floor and a fitness center on the 11th floor. The hotel will also include a cloudM rooftop …

Avison Young Arranges Sale of 75,191 SF Medical Office Park in Northern Virginia

ASHBURN, VA. — Avison Young has arranged the sale of Ashburn Farm Professional Plaza, a 75,191-square-foot medical office park in the Northern Virginia city of Ashburn. The three-building property is located at the center of Ashburn Park, a 1,200-acre planned, mixed-use community. Jim Kornick, Mike Wilson, Chip Ryan, Erik Foster, John Kevill and Mark Johnson of Avison Young arranged the transaction on behalf of the seller, Harrison Street Real Estate Capital LLC. A joint venture between MBRE …

Mission Capital Secures $19M Refinancing for Hilton-Branded Hotel in Downtown Greenville

GREENVILLE, S.C. — Mission Capital Advisors has arranged a $19 million loan for the refinancing of the Home2 Suites by Hilton Greenville Downtown. The 117-room hotel is located at 350 N. Main St. in downtown Greenville. Beau Williams, Steven Buchwald and Justin Hunt of Mission Capital arranged the non-recourse loan on behalf of the borrower, Sycamore Investment Group, which used the funds to retire an existing construction loan. The extended-stay hotel opened in 2016 and features a …

Driftwood Hospitality Sells 116-Room, Hyatt-Branded Hotel in Houston

HOUSTON — Florida-based Driftwood Hospitality has sold Hyatt House Houston Energy Corridor, a 116-room hotel located at 15405 Katy Freeway in Houston. The buyer was Houston-based Energy Corridor Hotels LLC, which acquired the asset for an undisclosed price. Michael Yu, Rahul Bijlani and Agrama Mannapperuma of CBRE, in conjunction with Ten-X Commercial through a managed bid process, represented the seller and buyer in the

MCR Acquires 107-Room TownePlace Suites Harrisburg Hershey in Pennsylvania

HARRISBURG, PA. — Hotel owner-operator MCR has acquired the 107-room TownePlace Suites Harrisburg Hersey in Harrisburg. The price was undisclosed. The property is 10 miles from the 121-acre Hersheypark theme park in Hershey. Located at 450 Friendship Road, the hotel features free daily buffet-style breakfast, 24-hour fitness center, on-site laundry service and an indoor pool as well as a

Summit Design + Build Completes Renovation, Rebranding of Former Hotel Indigo Chicago

CHICAGO — Summit Design + Build LLC has completed the renovation and rebranding of the former Hotel Indigo Chicago Downtown. The 13-story property is now known as Claridge House Hotel. The building, originally constructed in 1923, had operated as Hotel Indigo since 2005. Interwest Capital purchased the asset in 2016 with plans to rebrand. Summit updated the lobby and restaurant and installed a new bar. The hotel’s 165 guest rooms received upgrades including new paint, carpet, light …

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