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Noble, Simon Open Homewood Suites by Hilton Hotel in Edina, Minnesota

EDINA, MINN. — Noble Investment Group and Simon Property Group have opened a Homewood Suites by Hilton hotel in Edina. The 146-room hotel is located within the Southdale Center mixed-use project. The property features a business center, fitness center, pool, lobby bar and outdoor courtyard. Southdale Center is also home to a luxury apartment development. Shake Shack is slated to open this fall followed by home furnishing retailer RH next

DSH Hotel Advisors Brokers $7M Sale of Hotel in Port Charlotte, Florida

PORT CHARLOTTE, FLA. — DSH Hotel Advisors has arranged the $7 million sale of a Microtel Inn & Suites by Wyndham in Port Charlotte. Dennis Hopper of DSH Hotel Advisors represented both the seller, Interdevco, and the buyer, Maingate East Development, in the transaction. The Microtel Inn & Suites features a business center, fitness center, complimentary breakfast, free Wi-Fi, outdoor pool and meeting rooms. The hotel is located near the Charlotte County Historical Center, Bayshore …

Marcus & Millichap Brokers $1.9M Sale of 225-Room Hotel in Wausau, Wisconsin

WAUSAU, WIS. — Marcus & Millichap has brokered the $1.9 million sale of The Plaza hotel in Wausau. The 225-room hotel is located at 201 N. 17th Ave. The five-story property includes 23,000 square feet of banquet and conference space as well as a restaurant and lounge. Allan Miller, Chris Gomes, Ebrahim Valliani and Michael Klar of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also procured the buyer, a partnership. Wausau is …

Marshall Hotels & Resorts Opens 63-Room Hotel Indigo in Birmingham

BIRMINGHAM, ALA. — Marshall Hotels & Resorts has opened the 63-room Hotel Indigo Birmingham Five Points S-UAB. Located in the Five Points South area, Birmingham’s arts, entertainment and dining district, the hotel is near attractions including the Birmingham Botanical Gardens, McWane Science Center and the Birmingham Civil Rights Museum. In addition, the property is a half-mile from University of Alabama at Birmingham (UAB). The building was originally designed in the 1930s for medical …

Ares Real Estate Group Sells Stake in 1,500-Room Colorado Resort for $270M

AURORA, COLO. — Ares Real Estate Group has sold its investment stake in the Gaylord Rockies Resort & Convention Center in Aurora for $270 million. Slated to open this December, the 1,500-room hotel is located less than 10 minutes from the Denver International Airport. Marriott International Inc. will manage the hotel upon its opening. In addition to 486,012 square feet of convention space, the property will feature a full-service spa, fitness center, pool, several restaurants, a coffee …

HALL Structured Finance Secures $53M Construction Loan for Hotel Expansion in Scottsdale, Arizona

SCOTTSDALE, ARIZ. — Dallas-based HALL Structured Finance has closed a $53 million construction loan to finance the expansion, redevelopment, flagging and rebranding of CopperWynd Resort, located at 13225 N. Eagle Ridge Drive in Scottsdale. The existing 32-room property will be converted into the 177-room Marriott Autograph Scottsdale Resort. Bill Hinz is redeveloping the property, which is slated to open by fourth-quarter 2019. Located in the McDowell Mountains, the existing property …

CBRE Arranges Sale of Two Hotels in Coralville, Iowa

CORALVILLE, IOWA — In two separate transactions, CBRE has arranged the sales of a Comfort Inn & Suites and a Quality Inn in Coralville, a suburb of Iowa City. The sales prices were not disclosed. The 62-room Comfort Inn & Suites is located at 214 W. 9th St., while the 55-room Quality Inn is located at 209 W. 9th St. Douglas Johnson of CBRE represented the undisclosed sellers. Two different investment groups purchased the

HREC Brokers Sale of 152-Room, Hilton-Branded Hotel in Metro Baltimore

COLUMBIA, MD. — HREC Investment Advisors has arranged the sale of the 152-room DoubleTree by Hilton Hotel Columbia in downtown Columbia, roughly 19 miles southwest of Baltimore. A joint venture between LTD Hospitality Group and Sefira Capital acquired the asset for an undisclosed price. Ketan Patel and Kevin Kanley of HREC arranged the transaction on behalf of the seller, RLJ Lodging Trust. The hotel features meeting space, a fitness center, heated indoor pool and an onsite restaurant and

VanTrust Real Estate Acquires 20-Acre Land Parcel for Mixed-Use Development in Chandler, Arizona

CHANDLER, ARIZ. — VanTrust Real Estate has purchased 20 acres of land, located at Chandler Boulevard and the Loop 101 in Chandler. The Rockefeller Group, New York City, sold the land parcel for $12.2 million. VanTrust plans to build a mixed-use development with office, hotel and retail space on the site. This transaction continues the company’s development pipeline in the Arizona market, which consists of projects for industrial, multifamily and office space. The company recently …

Berkadia Arranges $17.5M Construction Loan for New Hotel in Tallahassee

TALLAHASSEE, FLA. — Berkadia has arranged a $17.5 million construction loan for Hotel Indigo, a 143-room hotel that will be developed in Tallahassee. Brad Williamson and Kyle Ryan of Berkadia arranged the five-year, fixed-rate loan through a regional bank on behalf of the developer, Urban Street Development. The hotel will be one of the final pieces of the company’s Florida State University (FSU) CollegeTown District. The master-planned mixed-use community already includes 982 student …

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