REBusinessOnline

AWH Partners Acquires Three-Property Holiday Inn Portfolio in Boston

BOSTON — AWH Partners has acquired a three-property Holiday Inn portfolio in Boston. The properties include the Holiday Inn & Suites Boston – Peabody, Holiday Inn & Suites Marlborough and the Holiday Inn Boston-Dedham Hotel and Conference Center. The sales price was not disclosed. Spire Hospitality, AWH’s hospitality management company, will manage the properties. The hotels have a combined 555 guest rooms as well as 8,000 square feet of event and meeting

Hilton Opens 42-Story Waldorf Astoria Atlanta Buckhead

ATLANTA — Hilton Worldwide has opened the Waldorf Astoria Atlanta Buckhead in Atlanta’s Buckhead district. The 42-story hotel is the first for the Waldorf Astoria brand in Atlanta and is situated at the former site of Mandarin Oriental Atlanta. The property features 127 rooms, 10 suites, 47 private residences, a 15,000-square-foot spa and meeting and event space. Designed by Robert A.M. Stern, the Atlanta location joins 30 other Waldorf Astoria hotels

Lightstone Secures $73M in Construction Financing for South Beach Hotel

MIAMI BEACH, FLA. — National real estate investor and developer Lightstone has secured $73 million in financing to build Moxy South Beach, a seven-story, 202-room hotel in Miami Beach. CapitalSource provided a $55 million senior loan and Canyon Partners Real Estate LLC made an $18 million preferred equity investment. Moxy’s lobby will have an outdoor courtyard threading together a restaurant, all-day bar, co-working lounge and a Cuban-themed bodega. The second floor will feature a 72-foot …

MCR Acquires Residence Inn by Marriot Harrisburg Carlisle in Pennsylvania

CARLISLE, PA. — Hotel owner-operator MCR has acquired the 78-room Residence Inn by Marriott Harrisburg Carlisle in Carlisle. The sales price was undisclosed. Located at 1 Hampton Court, the hotel is approximately two miles from the U.S. Army War College. Amenities at the property include free Wi-Fi, a convenience store, heated indoor pool and whirlpool spa, a 24-hour fitness center and on-site laundry service. The seller was not

HREC Brokers Sale of 106-Room Fairfield Inn & Suites in Ithaca, New York

ITHACA, N.Y. — HREC Investment Advisors has brokered the sale of the 106-room Fairfield Inn & Suites in Ithaca. The sales price was undisclosed. The property is located at 359 Elmira Road, approximately two miles from both Cornell University and Ithaca College. Ketan Patel of HREC Investment Advisors represented the seller, Titan Hotel Group, in the transaction. The buyer was

KeyBank Provides $26.4M Acquisition Financing for Hotel Portfolio in Cleveland, Chicago

CLEVELAND AND CHICAGO — KeyBank Real Estate Capital has provided a $26.4 million CMBS loan for the acquisition of a portfolio of Extended Stay America hotels in suburban areas of Cleveland and Chicago. The portfolio is comprised of 14 hotels, built in the late 1990s and early 2000s, totaling 1,386 rooms. Jake Proctor of KeyBank originated the nonrecourse, fixed-rate financing with a five-year term, three-year interest only period and 30-year amortization schedule. Singerman Real Estate was …

Hampton Inn & Suites Opens $15.5M Prototype Hotel in Metro Mobile

SARALAND, ALA. — Hampton Inn & Suites has opened a new 100-room, $15.5 million hotel in Saraland. Located about 12 miles north of Mobile, the hotel is Hampton’s first new prototype in a decade. Guestrooms have been redesigned to feature larger windows and bathrooms with improved lighting, décor and bath fixtures. Other amenities include 900 square feet of meeting space, a board room, complimentary breakfast, pool, fitness center and a business center. The business employs more than 18 …

UC Funds Celebrates Grand Opening of Residence Inn Stamford Downtown in Connecticut

STAMFORD, CONN. — UC Funds has cut the ribbon on the newly completed Residence Inn Stamford Downtown. Located at 25 Atlantic St., it is the first hotel in Stamford to offer extended-stay lodging. UC funds acquired the property in 2017 and completed construction of the project. The eight-story, 156-room hotel opened Nov. 21. The Marriott-franchised hotel is managed by Urgo Hotels & Resorts. The Residence Inn features apartment-style accommodations and more than 2,000 square feet of meeting …

Chatham Lodging Acquires Marriott-Branded Hotel in Downtown Dallas for $49M

DALLAS — Florida-based hospitality REIT Chatham Lodging Trust (NYSE: CLDT) has acquired the 167-room Courtyard by Marriott Downtown Dallas for $49 million. The 12-story hotel, which opened in September, features 3,500 square feet of meeting space and a rooftop restaurant and bar. Island Hospitality Management will manage the property, the seller of which was not

Crystal Investment Property Arranges Sale of Olympic View Inn in Sequim, Washington

SEQUIM, WASH. — Crystal Investment Property (CIP) has brokered the sale of Olympic View Inn, a hotel located at 830 W. Washington St. in Sequim. The independent mid-scale hotel features 51 guest rooms spread across two exterior corridor buildings on four tax lots with excess land for future development. The hotel offers newly remodeled rooms, a conference room and fitness center. Joseph Kennedy of CIP worked closely with the undisclosed buyer and seller in the deal. The sales price was …

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