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CBRE Negotiates Sale of 84-Room Holiday Inn Express in Metro Houston

MISSOURI CITY, TEXAS — CBRE has negotiated the sale of Holiday Inn Express & Suites Missouri City West, an 84-room hotel in Missouri City, a southwestern suburb of Houston. Illinois-based Yeluh, LLC purchased the asset from MC Hotels LLC for an undisclosed price. Michael Yu, Rahul Bijlani and Agrama Mannapperuma of CBRE brokered the transaction, which is the seventh Houston-area hotel sold by CBRE’s South Central Hotel team this

Goldman Sachs, Lionheart Strategic Management Provide $133M Construction Financing for W Hotel in Nashville’s Gulch District

NASHVILLE, TENN. — Goldman Sachs and Lionheart Strategic Management have provided senior and mezzanine financing totaling $133 million for the ground-up construction of a W-branded hotel in Nashville’s Gulch neighborhood. Magellan Development, Corner Partnership and Hospitality Gaming Advisors are developing the 346-room hotel. The senior and mezzanine financing will have co-terminus initial terms of three years. The financing closed in

RLJ Lodging Trust Sells DoubleTree Burlington Vermont for $35M

BURLINGTON, VT. — RLJ Lodging Trust (NYSE: RLJ) has sold the 309-room DoubleTree by Hilton Burlington Vermont in Burlington for $35 million. The sales price represents a 4.5 percent capitalization rate. The buyer was not disclosed. Located at 870 Williston Road, the property features a fitness room, indoor pool, business center and meeting rooms. The hotel is located nearby the University of Vermont and Champlain

Alliant Provides $23M Refinancing for Hewing Hotel in Minneapolis

MINNEAPOLIS — Alliant Credit Union has provided a $23 million loan for the refinancing of The Hewing Hotel in the North Loop market of Minneapolis. The 124-room boutique hotel features a restaurant called Tullibee as well as a rooftop, social club and ballroom. Ben Greazel of NKF Capital arranged the four-year loan. The borrower was not

Marcus & Millichap Brokers $9.7M Sale of Holiday Inn Allentown I-78

BREINIGSVILLE, PA. — Marcus & Millichap has brokered the $9.7 million sale of the Holiday Inn Allentown I-78 (Lehigh Valley), a 175-room hotel in Breinigsville. The three-story property is located approximately 11 miles southwest of Allentown. Jerry Swon, Tim McCaffrey, Dan Zagoria and Brian Whelan of Marcus & Millichap represented the seller, Meyer Jabara Hotels, in the transaction. A local buyer purchased the

HFF Secures $9.8M Acquisition Loan for Crowne Plaza Boston Newton Hotel

NEWTON, MASS. — HFF has secured a $9.8 million acquisition loan for the leasehold interest in the Crowne Plaza Boston Newton, a 270-room hotel in Newton. HFF arranged a long-term, non-recourse loan through UniBank on behalf of the undisclosed borrower. Loan proceeds are being used to both acquire and renovate the hotel. The property is located approximately five miles west of Boston and features a restaurant and bar, indoor pool, fitness facility, on-site parking, room service and 15,000 …

Broughton Hotels Completes Renovation of Three Historic Hotels in Chicago

CHICAGO — Broughton Hotels has completed the renovation of its three historic boutique hotels in Chicago, including The Majestic Hotel, The Willows Hotel and City Suites Chicago. Initially built during the 1920s, each property now features new lobby furnishings, enhanced lighting, window treatments, linens, carpeting and artwork. City Suites also features new guestrooms. Anthony Laurino of California-based design firm ALD Designs created the concepts for each hotel’s renovation. The …

Sonnenblick-Eichner Arranges $29.2M Loan for Refinancing of Historic Hotel in New Orleans

NEW ORLEANS, LA. — Sonnenblick-Eichner Co. has arranged a $29.2 million loan for the refinancing of the Old No. 77 Hotel & Chandlery, a historic, 167-room hotel in New Orleans’ Warehouse Arts District. The five-year, floating-rate loan was priced at a spread in the mid-300s over LIBOR. The name of the borrower was not disclosed. The hotel underwent a $14 million renovation in 2015 that included the renovation of guest rooms, bathrooms, public spaces and a build-out of the ground floor …

Trinity Bluff Hospitality Acquires Land in Downtown Fort Worth to Develop 100-Room Hotel

FORT WORTH, TEXAS — Trinity Bluff Hospitality LLC has acquired 1.5 acres in downtown Fort Worth’s Trinity Uptown neighborhood with plans to construct a 100-room Avid hotel. Austin Reilly of Land Advisors Organization arranged the transaction on behalf of the seller, Trinity Bluff Development Ltd. Avid is a newer concept from InterContinental Hotels Group (IHG). These hotels feature 24-hour coffee bars, breakfast on the go and a 24-hour market. A construction timeline for the new location …

Hilton Grand Vacations to Develop 32-Story Resort in Honolulu’s Waikiki

HONOLULU — Hilton Grand Vacations Inc. (NYSE: HGV) has purchased a one-acre site in Honolulu’s Waikiki neighborhood with plans to develop a 32-story timeshare resort. The site currently houses King’s Village shopping center, Hale Waikiki Hotel and Prince Edward Apartments. Construction is slated to begin in the second quarter of 2019, with project completion in the first quarter of 2022. The property will include 191 timeshare apartment units, comprised of studios, one-, two- and …

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