JACKSON, MICH. — Home2 Suites by Hilton has opened in Jackson, about 35 miles south of Lansing, the capital of Michigan. The extended-stay hotel consists of 83 suites. Ontario Hospitality Inc. developed, owns and manages the property, which features fully equipped kitchens, complimentary Internet, breakfast, a combined laundry and fitness area, and indoor pool. The hotel is located at 2704 Bob McClain Drive off I-94.
LOS ANGELES — George Smith Partners has arranged $50 million in construction and renovation financing for a redevelopment project near Los Angeles International Airport. The 258,000-square-foot, 13-story office tower will be converted into a 129-key Hyatt House and a 272-key Hyatt Place Hotel in Los Angeles. The asset is situated on West Century Boulevard, one block away from LAX. The redeveloped Hyatt House and Hyatt Place Hotel will feature a mid-century-inspired urban design and rooms with 11.5-foot ceiling heights. Amenities include a rooftop bar, pool, and restaurant with unobstructed views from downtown Los Angeles to the Pacific Ocean, a variety of dining options and a fitness center. The project is scheduled for completion in 2019. Financing was arranged on behalf of 5959 LLC, an affiliate of California Real Estate Regional Center LLC.
BLOOMINGTON, MINN. — CBRE Hotels has brokered the sale of Park Plaza Hotel in Bloomington for an undisclosed price. The 209-room hotel is located at 4460 W 78th St. Circle. The property is located near the Mall of America and the Minneapolis-St. Paul International Airport. Nate Sahn of CBRE represented the seller, Hospitality Properties Trust. A joint venture between Hawkeye Hotels and JR Hospitality purchased the property with plans to renovate the hotel and relaunch it as a Courtyard by Marriott the end of next year, according to Minneapolis/St. Paul Business Journal.
SUMMERVILLE, S.C. — Chatham Lodging Trust has acquired the 96-room Courtyard by Marriott Charleston Summerville for $20.2 million. The hotel, constructed in 2014, is located within Nexton, a mixed-use community under construction in Summerville, roughly 24 miles northwest of Charleston. Over the next decade, Nexton is projected to include approximately 10,000 homes, 8 million square feet of commercial space and a medical campus. Volvo’s new 2.3 million-square-foot facility will also be located near the development. In addition to the Marriott Charleston Summerville, Chatham Lodging Trust is under contract to acquire an adjacent hotel, the 96-room Residence Inn by Marriott, upon opening in the second quarter of 2018.
CEDAR RAPIDS, IOWA — CBRE Hotels has brokered the sale of the Holiday Inn Express South in Cedar Rapids for an undisclosed price. The 83-room hotel is located on 33rd Avenue. Amenities include a fitness center and indoor pool. Nate Sahn and Douglas Johnson of CBRE represented the seller, Amana-Nordstrom Inc. Sioux Falls, S.D.-based Bird Dog Equity Partners purchased the asset.
HOUSTON — Hall Structured Finance (HSF), a Dallas-based private lender, has secured a $22.8 million construction loan to finance the adaptive reuse of the former Southwestern Bell Telephone Co. office building in downtown Houston into a 150-room Hyatt Place hotel. The new hotel will feature ground-floor dining, a rooftop bar, indoor pool, fitness center and approximately 800 square feet of meeting space. Guestrooms, which will be located on the third through 16th floors, will average about 400 square feet per room. A timetable for completion of the project has not yet been established.
ATLANTA — Legacy Ventures has completed the $16 million renovation of The American Hotel, a 315-room hotel operating as a DoubleTree Hilton in downtown Atlanta. Originally constructed in 1962, the hotel has hosted public figures including Elvis Presley, Carol Channing, Jimmy Carter, James Brown, Nelson Rockefeller and Dr. Martin Luther King Jr. The renovation embraces mid-century modern furnishings and design and includes 60s car-themed headboards and an Airstream trailer serving as the poolside bar. The hotel’s renovated meeting and banquet space can accommodate up to 500 guests, and the updated fitness facilities include virtual fitness classes. The American Hotel is also home to The Cloakroom Kitchen & Bar, which pays tribute to the Cold War. In addition, the hotel is situated within walking distance to the Tabernacle concert hall, Centennial Olympic Park and the new Mercedes-Benz Stadium.
RICHMOND HEIGHTS, FLA. — WoodSpring Hotels has opened a new location at 16055 S.W. 117th Ave. in Richmond Heights, roughly 23 miles south of Miami. The 123-room WoodSpring Suites Miami Southwest offers three room layouts, each with an in-room kitchen equipped with full-size refrigerator, two-burner stovetop and a microwave. WoodSpring Suites also features guest laundry and a fitness center. Gold Coast Premier Properties LLC owns the hotel, and Hotel Management & Consulting LLC (HMC) will manage the property. Gold Coast Premier also plans to complete seven more WoodSpring Suites in the South Florida area.
ATLANTA — Simon has unveiled plans to transform Phipps Plaza, an upscale shopping mall in Atlanta’s Buckhead district, into a mixed-use destination. The additional uses coming to Phipps Plaza include a 150-room Nobu Hotel, 10,000-square-foot Nobu Atlanta Restaurant, 90,000-square-foot Life Time Athletic fitness center and a 12-story office building. The hotel will feature a rooftop pool, conference space and spa facilities, and the restaurant will offer Japanese-style cuisine. Life Time will develop an athletic club in a three-level space that will feature studio, yoga and cycle classes, personal training, a café, rooftop pool, beach club and a bistro. The new buildings will join recent additions to Phipps Plaza including the 166-room AC Hotel Atlanta Buckhead and the 319-unit Domain at Phipps Plaza, an upscale apartment community. Construction is scheduled to begin in 2018, with a phased opening beginning in spring 2020.
SAN DIEGO — A joint venture between subsidiaries of Sunstone and Park Hotels & Resorts has obtained a $220 million refinancing for the 1,190-room Hilton San Diego Bayfront in downtown San Diego. The hotel is located at 1 Park Blvd. The loan has a three-year initial term and three one-year extension options. The loan is interest-only and provides for a floating interest rate of LIBOR plus 1.05 percent with a 25 basis-point increase during the final one-year extension period, if extended. The loan is expected to reduce the company’s consolidated annual cash interest expense by about $2.6 million. The financing replaces the existing loan that was scheduled to mature in August 2019 and had a floating interest rate of LIBOR plus 2.25 percent. The refinancing was completed by Sunstone Hotel Investors.