HOT SPRINGS, ARK. — HREC Investment Advisors has arranged the sale of Clarion on the Lake, a 150-room hotel in Hot Springs. A regional hotel owner/operator purchased the asset for an undisclosed price. Kevin Hanley and Patrick Culligan of HREC represented the undisclosed seller in the transaction. The hotel is located on the shore of Lake Hamilton and features a swimming pool, outdoor cabana bar, volleyball court, picnic area and a playground.
ENUMCLAW, WASH. — An unnamed buyer has acquired the 23-suite Alta Crystal Resort at Mount Rainier in Enumclaw for an undisclosed price. The hotel is located at 68317 SR 410 East. The upscale select-service resort is situated near the Cascade Range ski area in Northwest Washington. Joseph Kennedy of Crystal Investment Property represented the seller in this transaction. Crystal Investment is a member of Hotel Brokers International.
WACO, TEXAS — A partnership between Civitas Capital Group and Atlantic Hotels Group has purchased the 120-room Holiday Inn Express & Suites in Waco. The property is situated within Legends Crossing, a 150-acre mixed-use development near Baylor University’s campus. Hotel amenities include 1,922 square feet of meeting space, an indoor pool and a business center. The seller and sales price were not disclosed.
LENEXA, KAN. — SpringHill Suites by Marriott has opened at 17190 W. 87th St. Parkway in Lenexa. The $20 million, 86,000-square-foot hotel consists of five stories and 124 rooms. The property features a 1,300-square-foot meeting space, lobby bar, fitness center and indoor pool. Part of the Lenexa City Center development, the hotel also includes 1,600 square feet of retail space with outdoor seating. Orangetheory Fitness is located in the hotel’s storefront. Midas Hospitality is managing the hotel. Sister company MC Hotel Construction was the general contractor.
CHARLESTON, W.VA. — KeyBank Real Estate Capital has arranged a $14.5 million CMBS loan for Four Points by Sheraton, a 176-room hotel in Charleston. William Cassidy of KeyBank structured the 10-year, nonrecourse loan featuring a 30-year amortization schedule. The borrower used the loan to refinance existing debt. Constructed in 1966 and renovated in 2014, the 12-story Four Points by Sheraton comprises 158,576 square feet and includes 10,000 square feet of office space, eight residential condos and a 286-space parking garage. Hotel amenities include a business center, fitness center and an indoor heated swimming pool.
ALBUQUERQUE, N.M. — Terrapin Investments & Management Corp. has purchased the 276-unit Sheraton Albuquerque Airport Hotel for an undisclosed sum. The hotel is located at 2910 Yale Blvd. SE in Albuquerque. The property is the only lodging facility situated on airport grounds at Albuquerque International Sunport Airport. Sheraton Albuquerque Airport Hotel is located about five miles southeast of downtown Albuquerque, two miles south of the University of New Mexico and three miles west of the Gibson Gate at Kirtland Air Force Base. Mike Armstrong of HREC Investment Advisors represented the seller — a joint venture between Waramaug, Interstate Hotels and Resorts, and Värde Partners — in this transaction.
HEALDSBURG, CALIF. — R.D. Olson Construction has started construction of the 122-room Hotel Trio in the Sonoma wine country submarket of Healdsburg. The hotel will be located at 110 Dry Creek Road. The property includes 13 one-bedrooms and 109 studios. It is within walking distance of the downtown area and a host of local wineries. Hotel Trio will also offer on-site bicycle rentals to provide access to the hundreds of wineries within a 30-mile radius. Amenities will include a bar, meeting room, outdoor pool, BBQ area, lounge, fully equipped fitness center and multiple outdoor patios with fireplaces. The hotel will connect the Dry Creek, Russian River and Alexander wine valleys, which is why it is named “Trio.” Additional partners on the project include Axis/GFA Architecture + Design, ZFA Structural Engineers, CSW/Stuber-Stroeh Engineering Group, Tuan and Robinson Engineering and CU Investors.
CHICAGO — Natixis has provided a $270 million refinancing for the JW Marriott Chicago, a luxury hotel located within The Loop in downtown Chicago. Daniel Burnham designed the property in the early 1900s. It served as the Continental and Commercial National Bank Building for many years. In 2010, the first 12 floors of the building were transformed into a 610-room hotel. Architectural firm Lucien Lagrange & Associates led the $396 million restoration. The hotel offers amenities including a 20,000-square-foot spa; 38 meeting rooms totaling 45,000 square feet; a fitness center; barber and beauty shop; The Florentine, a full service Italian restaurant; lobby lounge; and 24-hour room service. Danny Kaufman and Jeff Bucaro of HFF placed the five-year, fixed-rate refinancing loan on behalf of UST XIX 208 S LaSalle, a German real estate investment fund managed by affiliates of Orlando, Fla.-based Estein USA. Natixis is the international corporate, asset management, insurance and financial services arm of Groupe BPCE, the second largest banking group in France. The firm is a full-service, direct lender for commercial real estate clients across the United States. Groupe BPCE has 31.2 million clients spread over two retail-banking networks — Banque Populaire and Caisse d’Epargne. — Katie Sloan
ROCK HILL, S.C. — Legacy Suites has opened a new hotel at 1835 Canterbury Glen Lane in Rock Hill, a South Carolina suburb of Charlotte. Built by MC Hotel Construction, the $11 million, four-story hotel comprises 64,000 square feet and includes 115 rooms. The extended-stay hotel features a kitchen and full-size appliances. Amenities include a gathering room, fitness center, laundry facilities, barbeque grills and a picnic area. MC Hotel Construction’s sister company, Midas Hospitality, will manage the new property. The Rock Hill location is the second Legacy Suites hotel in the country, the other being in Donaldsonville, La. A third Legacy Suites location is slated to open in Greenville, S.C., in summer 2018.
SOUTHAVEN, MISS. — CVH Airways LLC has opened Homewood Suites by Hilton Southaven, a 99-room hotel located at 135 Homewood Drive in Southaven, roughly 13 miles south of Memphis in Mississippi. The hotel includes a mix of studio, one- and two-bedroom accommodations and features fully equipped kitchens and separate living and sleeping areas. Amenities include a fitness center, indoor pool, outdoor sports court and 468 square feet of meeting space. Vista Host Inc. will manage the property.
