REBusinessOnline

Motto by Hilton to Anchor $80M Mixed-Use Project Within Opportunity Zone in Atlanta’s Old Fourth Ward

ATLANTA — Sixty West Funds and Lucror Resources have picked Motto by Hilton to anchor their $80 million mixed-use project in Atlanta’s Old Fourth Ward. The project, named Waldo’s Old 4th Ward, is situated on 1.5 acres at the intersection of Edgewood and Boulevard within an Opportunity Zone. Construction on the hotel is expected to begin in August. TVSDESIGN is serving as the architect, and Hirsch Bender & Associates is serving as the interior designer. Waldo’s Old 4th Ward will also …

Development, Georgia, Hospitality, Southeast

Brinkmann Constructors Breaks Ground on 100-Room, Dual-Branded Hotel in North Kansas City

KANSAS CITY, KAN. — Brinkmann Constructors has broken ground on a new dual-branded hotel in north Kansas City. The hotel will feature the brands Aloft and Element, both of which are owned by Starwood. KMG Hotels is developing the 135,000-square-foot project, which will consist of approximately 100 rooms connected to a 15,000-square-foot convention center. The project is within the One North development. Completion is slated for September 2020. US Bank is providing financing. Hoefer Wysocki is …

Development, Hospitality, Kansas, Midwest

Shaner Opens 102-Room Marriott-Branded Hotel in Norwalk, Connecticut

NORWALK, CONN. — Shaner Hotels, a Pennsylvania-based hospitality owner-operator, has opened a 102-room Residence Inn by Marriott hotel in the coastal Connecticut city of Norwalk. The eight-story property features apartment-inspired suites that include full kitchens and individual workspaces. Amenities include grocery delivery service, a fitness center and a business center, as well as a bar and restaurant. Rich Co. developed the hotel in a joint venture with SoNo Development Partners. Shaner …

Connecticut, Development, Hospitality, Northeast

The Hotel Group Opens Home2 Suites by Hilton Yakima Airport in Washington

YAKIMA, WASH. — The Hotel Group (THG), a hotel management and investment company, has opened Home2 Suites by Hilton Yakima Airport, a four-story hotel located at 2420 W. Nob Hill Blvd. in Yakima. Constructed by Yakima-based Hogback Development, the 107-room property features a mix of studio and one-bedroom suites with en suite kitchens. Additionally, the hotel features free breakfast and laundry facilities. With the opening of Home2 Suites by Hilton Yakima Airport, THG now represents …

Development, Hospitality, Washington, Western

Pebblebrook Sells Onyx Hotel Near Downtown Boston for $58.3M

BOSTON — Pebblebrook Hotel Trust, a publicly traded real estate investment trust (NYSE: PEB), has sold the 112-room Onyx hotel located at 155 Portland St. near downtown Boston for $58.3 million. The buyer was not disclosed, but the sales price represents a capitalization rate of 5.9 percent. Pebblebrook will use proceeds from the sale for general business purposes, including paying off existing debt. The Onyx Hotel offers guests amenities such as a 24-hour fitness center, bike rental …

Acquisitions, Hospitality, Massachusetts, Northeast

Estia Group to Develop 14-Story Blu Ivy Hotel in Philadelphia

PHILADELPHIA — Locally based firm Estia Group will develop a 14-story Blu Ivy hotel at 122 S. 11th St. in Philadelphia. The 86-room property will house Anthos, a two-story restaurant that offers Mediterranean and Greek cuisine. Both the hotel and the restaurant, which will offer bar seating for 23 guests and floor seating for 198 patrons, are scheduled to be complete in fall 2020. The development team includes designer DAS Architects and structural engineer O’Donnell &

Development, Hospitality, Northeast, Pennsylvania

Hotel Motel Inc. Breaks Ground on 104-Room Cambria Hotel in Fort Lauderdale

FORT LAUDERDALE, FLA. — Hotel Motel Inc. has broken ground on Cambria Hotel Fort Lauderdale Beach, a 104-room hotel in Fort Lauderdale. The property is located at 2231 N. Ocean Blvd., which is within walking distance to North Beach. Amenities will include a swimming pool with ocean views, meeting space and a fitness center. The hotel is expected to open in 2020. Jai Motawni owns Hotel Motel Inc., which has developed several hotels in South Florida. This will be Cambria’s second hotel in …

Development, Florida, Hospitality, Southeast

Virtua Credit Arranges $14M Loan to Refinance Hampton Hotel in Metro Philadelphia

PLYMOUTH MEETING, PA. — Commercial finance and investment advisory firm Virtua Credit has arranged a $14 million loan for the refinancing of the 136-room Hampton Inn by Hilton in Plymouth Meeting, located north of Philadelphia. Built in 1999 and renovated in 2017, the five-story hotel offers an outdoor pool, fitness center, onsite laundry facilities, meeting spaces and 204 parking spaces. The borrower and direct lender were not disclosed.

Hospitality, Loans, Northeast, Pennsylvania

Conrad Hotel to Anchor $540M Mixed-Use Project in Nashville

NASHVILLE, TENN. — Propst Development, Chartwell Hospitality LLC and Hilton Worldwide have signed Conrad Nashville, a luxury Hilton branded hotel, to anchor Broadwest, a $540 million mixed-use project in Nashville. Set to open in 2021, the hotel will occupy 14 stories of a 34-story building and comprise 237 rooms. The remaining stories will include 196 condominiums. Propst and Chartwell will co-own Conrad Nashville, and Chartwell will handle management services. Cooper Carry designed the …

Development, Hospitality, Southeast, Tennessee

Mission Capital Arranges $8M Refinancing Loan for Hotel Near Miami International Airport

MIAMI — Mission Capital Advisors has arranged an $8 million refinancing loan for the EB Hotel Miami, a 133-room hotel located at 4299 N.W. 36th St., across the street from Miami International Airport. The borrower, Eurobuilding Hotels, originally acquired the property in 2007 when it was an office building. Eurobuilding Hotels transformed the asset into a hotel that offers an outdoor pool with poolside bar, 24-hour fitness center, bar and lounge, as well as business, meeting and event …

Florida, Hospitality, Loans, Southeast
Content Partners Alliant Credit Union
RED Capital Group

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