Hospitality

White-Spunner Construction to Deliver $15M Hampton Inn & Suites Near Mobile

by Camren Skelton February 5, 2018

SARALAND, ALA. — Mobile-based general contractor White-Spunner Construction is underway on a new 101-room Hampton Inn & Suites in Saraland, roughly 12 miles north of Mobile. The $15 million hotel will replace a previous Hampton Inn that closed in 2017, and will be one of the first to feature the newest Hampton design for the brand. In addition, the hotel will feature 900 square feet of meeting space, an outdoor pool, fitness center, sundry shop and a business center. The hotel is expected to open in October.

February 5, 2018

Hospitality Kansas Midwest

TGC Completes $1.9M Interior Renovation of 82-Room TownePlace Suites in Wichita, Kansas

by Kristin Harlow February 5, 2018

WICHITA, KAN. — TGC Development Group has completed a $1.9 million interior renovation of the TownePlace Suites by Marriott Wichita East. The 82-room, extended-stay hotel is located at 9444 E. 29th St. Renovations include fully updated guest rooms and new furniture, flooring and décor in the lobby. The hotel is designed for travelers who need accommodations for longer stays, including fully equipped kitchens and separate working areas. Wichita-based SBA Construction was the general contractor for the project. TGC manages the hotel.

February 5, 2018

California Hospitality Loans Western

Huntington Hotel Group Secures $35M to Build Dual-Branded Hotel in LA

by Nellie Day February 2, 2018

LOS ANGELES — Huntington Hotel Group has received $35 million in construction financing to build a dual-branded hotel in the Los Angeles submarket of Agoura Hills. The project will include the 129-room Courtyard Marriott and the 96-room TownePlace Suites. The asset will be developed on a vacant 5.5-acre site located at 29505 and 29515 Agoura Road. HFF placed the 60-month loan with Umpqua Bank.

February 2, 2018

Georgia Hospitality Loans Southeast

PMZ Realty Capital Arranges $17.5M Refinancing for Marriott Hotel in Augusta

by Camren Skelton February 2, 2018

AUGUSTA, GA. — PMZ Realty Capital LLC has arranged a $17.5 million loan for the refinancing of the Residence Inn by Marriott Augusta located at 1116 Marks Church Road in Augusta. Other terms of the deal and the borrower were not disclosed. The 124-room hotel is located roughly five miles south of Augusta National Golf Club, home of the Masters golf tournament. The hotel features a 483-square-foot meeting room, complimentary breakfast, fitness center and an indoor pool.

February 2, 2018

Hospitality Illinois Loans Midwest

Mesa West Capital Provides $48M Refinancing for Talbott Hotel in Chicago

by Kristin Harlow February 1, 2018

CHICAGO — Mesa West Capital has provided a $48 million loan for the refinancing of the newly renovated Talbott Hotel in Chicago. The borrower, Sterling Bay, acquired the 16-story hotel in the fall of 2015. Sterling Bay completed a renovation of the lobby, common areas and guest rooms and added a restaurant, fitness center and 29 new rooms to rebrand the property into a 178-room boutique hotel. The hotel reopened in May 2017. The non-recourse loan will allow Sterling Bay to stabilize the hotel over the course of the five-year loan term, according to Matthew Snyder, vice president of Mesa West. Snyder and Brian Hirsh originated the loan.

February 1, 2018

Florida Hospitality Loans Southeast

Aztec Group Secures $15.2M Construction Loan for Comfort Inn Hotel Near Miami

by Camren Skelton February 1, 2018

MIAMI SPRINGS, FLA. — Aztec Group Inc. has arranged a $15.2 million construction loan for the development of a new Comfort Inn & Suites hotel located at 665 Mokena Drive in Miami Springs. Aztec Group arranged the loan through TotalBank on behalf of the developer, 665 Mokena Partners LLC, an entity led by Steven Marin and Michael Pfeffer. The eight-story hotel will include 120 guestrooms and will feature complimentary breakfast, a fitness center, outdoor swimming pool and deck, business center, sundries shop, guest laundry and meeting space. Travelers Hotel Group will manage the hotel, which is expected to open mid-2019.

February 1, 2018

Hospitality New York Northeast

Optima Real Estate Tops Out 21-Story Hotel in Manhattan

by Amy Works January 26, 2018

NEW YORK CITY — Developer Optima Real Estate has topped out construction for its boutique 21-story hotel located at 333 W. 38th St. in Manhattan’s Midtown West neighborhood. Designed by Gene Kaufman Architect, the 34,000-square-foot hotel will feature 79 rooms, a roof deck, a fitness center and breakfast rooms. The $10 million hotel was designed with four rooms per floor, allowing abundant natural light and views of the city.

January 26, 2018

Hospitality Massachusetts Northeast

The Davis Cos. Buys Redevelopment Site in Boston for $15.7M

by Amy Works January 25, 2018

BOSTON — The Davis Cos. has acquired a redevelopment site located at 1515 Commonwealth Ave. in Boston’s Brighton neighborhood. Curahealth/Nautic Partners sold the property for $15.7 million. Christoper Sower, Scott Dragos and Doug Jacoby of Colliers International represented the seller in the deal. Formerly operating as a long-term acute care hospital, the property is a 2.12-acre redevelopment site currently improved with a 58,000-square-foot structure.

January 25, 2018

Hospitality Texas

Partnership Acquires 118-Room Marriott-Branded Hotel in Greater Dallas

by Taylor Williams January 25, 2018

LEWISVILLE, TEXAS — A partnership between Baltimore-based Alex. Brown Realty Inc. and Dallas-based TCOR Hotel Partners has acquired the 188-room TownePlace Suites by Marriott hotel in Lewisville, a northern suburb of Dallas. The hotel recently underwent a $1 million renovation, which included upgrades to the lobby and guestrooms. Dallas-based Inwood National Bank provided financing for the acquisition. The seller and sales price were not disclosed.

January 25, 2018

Georgia Hospitality Southeast

Hunter Arranges $68.8M Sale of Three Marriott-Branded Hotels in Florida

by Camren Skelton January 24, 2018

ATLANTA — Atlanta-based Hunter Hotel Advisors has arranged the $68.8 million sale of three Marriott-branded hotels located throughout Florida. Trey Scott, Shamir Patel, Robert Taylor and Steve Taylor of Hunter arranged the transaction on behalf of the seller, an affiliate of Rockwood Capital. An affiliate of Ocean Properties acquired two of the hotels in the portfolio — the 153-room Courtyard Sarasota/Bradenton and the 149-room Springhill Suites Tampa Westshore, both in the Tampa Bay area. An undisclosed private investor acquired the 152-room Courtyard Boynton Beach in Palm Beach County. Ocean Properties will continue to manage all three recently renovated hotels under a long-term management agreement.

January 24, 2018

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