WARMINSTER, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $7.8 million loan for the refinancing of the 92-room Holiday Inn Express & Suites hotel in Warminster, a northern suburb of Philadelphia. The hotel offers amenities such as a pool, fitness center and complimentary breakfast. Katie Vivian of Largo Capital originated the nonrecourse loan, which carried a five-year term and 30-year amortization schedule. The borrower and direct lender were not disclosed.
WESTMINSTER, COLO. — Marcus & Millichap has arranged the sale of La Quinta Inn by Wyndham Denver Northglenn, a three-story hotel at 345 W. 120th Ave. in Westminster. A private seller sold the asset to a local buyer for an undisclosed price. Built in 1986 and renovated in 2023, La Quinta Inn offers 131 guest rooms and is centrally located between Boulder, Colo., and downtown Denver. Skyler Cooper and Christy McDougall of Marcus & Millichap represented the seller and procured the buyer in the deal. Adam Lewis served as Marcus & Millichap’s broker of record in Colorado.
NEW YORK CITY — Investment firm Gencom has acquired the 587-room Thompson Central Park Hotel in New York City. Ramsfield Hospitality Finance, funds managed by AB CarVal and Affinius Capital LLC provided a $230 million loan for the acquisition. Eastdil Secured represented the undisclosed seller in the transaction and also represented Gencom in arranging the acquisition financing. Situated on Manhattan’s Billionaires’ Row just south of Central Park, the luxury hotel rises 42 stories on 56th Street. Formerly the Parker Hotel, the property underwent a $100 million renovation and rebranding beginning in 2021. The hotel features 4,500 square feet of meeting space and various food-and-beverage concepts. A 6,500-square-foot Exhale Spa and fitness center is slated to open later this year. The hotel’s “Upper Stories” experience includes a private arrival and departure process and an exclusive guest lounge. A collection of guestrooms and suites are perched on the property’s topmost floors. Restaurants at the Thompson include Burger Joint, a popular burger eatery that is open for lunch and dinner; Parker’s, a restaurant on the hotel’s main level that features live music and crafted cocktails named after famous jazz songs; and Indian Accent, an upscale dining experience by Chef Manish Mehrotra that offers …
DELRAY BEACH, FLA. — A joint venture between Certares and TMGOC Ventures has purchased The Ray Hotel, an upscale, 141-room hotel in Delray Beach, a coastal city in South Florida’s Palm Beach County. The seller and sales price were not disclosed. Alexandra Lalos Church, Zak Brodstein and Lauren Habig of Hodges Ward Elliott represented the seller in the transaction. Delivered in September 2021, The Ray is part of Hilton’s Curio Collection of high-end hotels. The property offers amenities including a rooftop restaurant and bar, rooftop pool deck, 1,800-square-foot fitness center and a modern event space. The Ray’s three full-service eateries include restaurants from Michelin-star chef Akira Back and Campi Italian, a concept from New York-based Host Restaurants.
PITTSBURGH — Marcus & Millichap has brokered the sale of the 69-room Hampton Inn Pittsburgh/West Mifflin hotel. Built in 1997 and renovated in 2018, the hotel is located about eight miles south of the downtown area and offers amenities such as an outdoor pool, fitness center and a business center. Alexandre Duong and Kevin Laureno of Marcus & Millichap represented the seller, Seaview Hospitality, in the auction sale. The duo, along with Adam Sklaver and Philip Kates of Marcus & Millichap, also secured the private buyer.
SHERMAN, TEXAS — Marcus & Millichap has brokered the sale of Quality Suites Sherman, a 67-room hotel located about 50 miles north of Dallas in Sherman. The sales price was not disclosed. Built on 2.2 acres in 1996 and renovated in 2019, the two-story hotel offers amenities such as an outdoor pool, meeting room, breakfast bar and guest laundry facilities. Chris Gomes of Marcus & Millichap represented the seller in the transaction and procured the Oklahoma-based private investor as the buyer. Both parties requested anonymity. Allan Miller and Skyler Cooper of Marcus & Millichap assisted in closing the deal as supporting brokers.
NASHVILLE, TENN. — A joint venture between Smith Hill Capital and Bain Capital has provided a $57 million loan for Embassy Suites by Hilton Nashville Airport, a 305-room hotel in Nashville. Eastdil Secured arranged the financing on behalf of the borrowers, Affinius Capital and Westmont Hospitality. The hotel sits close to Nashville International Airport, downtown Nashville and the One Century Place Conference Center. Amenities at the hotel include an airport shuttle, fitness center, business center, indoor pool, complimentary evening reception and more than 6,000 square feet of meeting space.
BUFFALO, N.Y. — Extended Stay Suites America (NYSE: STAY) has opened a 100-room hotel in Buffalo. The two-story building is located across the street from Buffalo-Niagara International Airport. Guestrooms are equipped with kitchens that include refrigerators, microwaves, stovetops, cookware, utensils and dishes. All rooms also feature dedicated workspaces. Amenities include complimentary grab-and-go breakfast and onsite laundry facilities. Blackstone Real Estate Partners and Starwood Capital Group own the Extended Stay America brand, which is headquartered in Charlotte.
COLUMBUS, OHIO — NewcrestImage has acquired the DoubleTree Suites by Hilton Hotel Columbus Downtown in Ohio for an undisclosed price. The 15-floor hotel features 194 rooms, all of which are suites. The property is convenient to the Ohio State Capital complex and the Greater Columbus Convention Center as well as two miles from the Ohio State University. Amenities include nearly 7,000 square feet of conference space, concierge services, a business center, fitness center, lounge and full-service restaurant, The Presidents Dining room. Tim Osborne and Spencer Davidson of Hunter Hotel Advisors represented the institutional seller in the transaction.
OAHU, HAWAII — Alaka’i Development has received construction financing for a $135 million dual-branded Hyatt Place and Hyatt House Hotel at Ewa Beach in Oahu. Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell, Nick Santangelo, Amber Coleman and Jim Korinek of CBRE’s Capital Market’s Debt and Structured Finance team secured the financing and joint venture equity for the Hawaii-based developer. Situated on 3.4 acres at 91-3456 Nana Hope St., the 240-key property will feature 108 Hyatt Place guest rooms and 132 Hyatt House extended-stay rooms, 19 of which include balconies and 86 kitchenettes. The five-story building will offer an outdoor swimming pool and spa, 3,009 square feet of meeting space, a dining room, business center and fitness center.