PORTLAND, ORE. — Curio Collection by Hilton has opened The Porter, a 297-room hotel in Portland. The new property is located at 1355 SW 2nd Ave. Amenities include a library, heated indoor pool with Jacuzzi, sauna room, steam room, meditation spa, locker rooms and 24-hour fitness center. Each guest room offers complimentary Wi-Fi, imperial bath products, a mini bar stocked with local products, and a complimentary selection of coffee and tea. Union Investment owns the property, which Widewaters Group manages.
BLOOMINGTON, MINN. — PCCP has provided a $23.8 million senior loan for the refinancing of Embassy Suites Bloomington in suburban Minneapolis. A venture between Lubert-Adler Real Estate Fund VII, Aimbridge Hospitality and Chelsea Hospitality Partners was the borrower. Loan terms were not disclosed. Built in 1980 and recently renovated, the 232-suite hotel is located at 2800 American Blvd. West. The eight-story property features 6,000 square feet of meeting space, a restaurant and bar, business center, fitness center, gift shop and indoor pool. Suites range in size form 476 to 532 square feet.
BOSTON — San Francisco-based Iconiq Capital has invested in the 90-year old Taj Boston hotel, located at 15 Arlington St. in Boston. Financial terms were not disclosed, but the Boston Business Journal reports the private equity firm — which manages money for Facebook founder Mark Zuckerburg — acquired a $196 million stake in the property. A group of investors including New England Development, Eastern Real Estate, Rockpoint Group, Lubert-Adler and Highgate originally acquired the 273-room hotel in 2016 for $125 million, and will retain an interest in the asset. The new partnership plans to execute a major capital improvement program that will include a comprehensive renovation of guestrooms, public areas and food and beverage outlets. According to a release, hotel owners have spent the past two years working with a team of architectural and interior design firms, consultants and engineers to develop a new vision for the property. A construction timeline for the project was not disclosed. Situated at the corner of Newbury and Arlington streets in Boston’s high-end Back Bay neighborhood, the hotel overlooks the Boston Public Garden and is adjacent to the city’s retail district. Amenities include nightly turndown, a 24-hour fitness center, business center, and onsite dining and bar …
ANNAPOLIS, MD. — Hersha Hospitality Trust has acquired the Annapolis Waterfront Hotel, a 150-room hotel in Annapolis, for $41.5 million. The name of the seller was not disclosed. The hotel was rebranded to Marriott International’s Autograph Collection Hotels in 2015, and features a business center, docking, laundry service, fitness center and an onsite restaurant and bar — Pusser’s Caribbean Grille. The hotel is situated on the Chesapeake Bay harbor, adjacent to the Annapolis town square and three blocks from the main gate of the United States Naval Academy.
TIFTONIA, TENN. — Cronheim Hotel Capital (CHC) has arranged a $16 million loan for the refinancing of two hotels in Tiftonia: a Hampton Inn and a Fairfield Inn & Suites. The adjacent properties are located roughly five miles southwest of Chattanooga. Cronheim arranged the 10-year loan with a 30-year amortization schedule and a fixed interest rate of 4.12 percent on behalf of the borrower, Vision Hospitality Group Inc. The Chattanooga-based company developed the Hampton Inn and Fairfield Inn in 2009 and 2013, respectively. The properties share a common parking lot and feature business centers, meeting rooms, fitness centers and swimming pools.
KANSAS CITY, MO. — Windsor Aughtry Hotel Group has begun development of a Hampton Inn and Suites by Hilton in Kansas City. The 132-room, seven-story hotel will be located at 1571 Main St. Designed by McMillan Pazdan Smith Architecture, the hotel will include a Starbucks on the ground floor. Crossland Construction Co. is the general contractor and Hospitality America Inc. will manage the property. Completion is slated for early 2019. This is Windsor Aughtry’s first hotel in the Midwest.
NEW YORK CITY — Meridian Capital Group has arranged a $23.5 million loan for the refinancing of the 130-room Box House Hotel in the Greenpoint neighborhood of Brooklyn. New York-based Ladder Capital provided the loan, which features interest-only payments. The borrower was undisclosed. Cary Pollack and Judah Neuman of Meridian negotiated the terms of the loan. The Box House Hotel is a former warehouse space at 77 Box St. that was redeveloped into a hotel in 2012. The four-story property also features a rooftop event space with views of the Manhattan skyline. Greenpoint is accessible from Manhattan via the G subway line and the East River ferry.
GRAPEVINE, TEXAS — Marcus & Millichap has closed the sale of a 94-room Hampton Inn & Suites and a 96-room Comfort Suites, two hotels located in the Dallas metro of Grapevine. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, Dallas-based Supreme Bright Grapevine II and IV LLC, in the transaction. The duo also procured the buyer. Other terms of sale were not disclosed.
ARLINGTON, VA. — Mission Capital Advisors has arranged a $47 million bridge loan for the refinancing of Hyatt Place Arlington Courthouse Plaza, a 168-room hotel located at 2401 Wilson Blvd. in Arlington, roughly 5 miles southwest of Washington, D.C. The property is located adjacent to the Association of the United States Army (AUSA) Conference and Event Center. Jason Parker, Ari Hirt and Jamie Matheny of Mission Capital arranged the loan through EagleBank on behalf of the borrower, a partnership between The Schupp Cos. and LodgeWorks Partners. The eight-story hotel was constructed in 2016 and features a business center and indoor valet parking. In addition, the hotel is home to Verre Wine Bar on the ground level.
PEVELY, MO. — Mumford Co. has arranged the sale of a Super 8 hotel in Pevely, about 29 miles south of St. Louis. The sales price was not disclosed. The three-story hotel features an indoor pool. George Arvanitis and Justin Pinkard of Mumford Co. represented the seller, Faiz Awana LLC. Investment Property Exchange Services Inc. purchased the asset.