WENTZVILLE, MO. — Hampton Inn St. Louis Wentzville has opened near St. Louis. The $12 million hotel features 64,000 square feet and 109 rooms. The hotel is located at 150 Wentzville Bluffs Drive in the new Wentzville Bluffs development. Amenities include a fitness center, indoor pool, meeting rooms and outdoor grill area. Midas Hospitality is managing the hotel. MC Hotel Construction, the sister company of Midas, was the general contractor.
IRVING, TEXAS — WaterWalk Hotel Apartments has broken ground on WaterWalk Las Colinas, located adjacent to DFW Airport at George Bush Turnpike and West Royal Lane in Irving. WaterWalk Las Colinas will feature 153 units across two buildings and is expected to open by Memorial Day of 2018. The franchised property is owned by a group of investors based in Wichita, Kan., and led by Allan Dunne, owner and manager of Dunne Investments and Dunne Property Co. The Law Company is the general contractor on the project, and LK Architecture is the architect. Both companies are also based in Wichita. WaterWalk combines the features of an upscale extended-stay hotel with the lifestyle of apartment living. Guests may choose to stay a day, a week, a month, a year, or longer with one all-inclusive bill for utilities, DirecTV with 300 channels and premium channels, DVR, Internet, phone, gym facility and 24/7 concierge services. With the full-service package, guests receive fully furnished accommodations, housekeeping and a complimentary breakfast delivered to the suite. The Dunne group has committed to developing 10 to 15 additional WaterWalk franchises over the next few years. WaterWalk Las Colinas is the investment group’s second project in Texas. Jack …
ATLANTA — Arden Group, through its affiliate Arden Real Estate Partners II, has acquired the Sheraton Atlanta Hotel for an undisclosed price. The recently renovated, 763-room hotel includes over 100,000 square feet of event and meeting space, as well as an indoor-outdoor swimming pool, garden courtyard with retractable glass roof, fitness center, business center and two restaurants. Arden plans to invest $7 million in renovations to the hotel, which will add to the $15 million that the previous owners completed in 2016. JLL arranged the sale. HEI Hotels & Resorts will manage the property.
FORT COLLINS, COLO. — Rockies Lodging Capital has purchased two hotels in Fort Collins for an undisclosed sum. The hotels include the 113-room Residence Inn and the 112-room Courtyard located at 1127 and 1200 Oakridge Drive, respectively. The properties are situated in the center of Fort Collins’ main commercial corridor. CBRE Hotels’ Mark Darrington and Larry Kaplan represented the seller, Southwest Value Partners, in this transaction.
SAN DIEGO — Pacifica Host Hotels has sold its 118-room Best Western Plus Otay Valley in the San Diego submarket of Chula Vista to a California-based hotel ownership group. The price was not disclosed. The hotel will retain the Best Western branding. The new owner plans to renovate the hotel. Leigh-Anne Ashton, Bruce Holmes and Harry Hashim of HotelBrokerOne represented both parties. The transaction involved a 1031 exchange.
NEW ORLEANS — Hilton Hotels and Resorts has opened Homewood Suites by Hilton New Orleans French Quarter, a four-story, 207-suite property located at 317 N. Rampart St. in New Orleans. The hotel offers a 24-hour fitness center, pool, kitchen and grill area and 1,500 square feet of meeting space, as well as 12 balcony suites with full kitchens and separate living and sleeping areas.
LONG BEACH, CALIF. — Urban Commons has unveiled plans for a $250 million mixed-use development surrounding the Queen Mary, a retired cruise ship docked in Long Beach, Calif. The 700,000-square-foot project — designed by Gensler and titled Queen Mary Island — will include a main lobby plaza; 2,400-foot boardwalk alongside marinas, eclectic retail shops, cafes and bars; 200-room hotel; and outdoor amphitheater. Urban Commons assumed the master lease of the ship in April of last year, and subsequently began a renovation program to restore the ship to its former glory. The company is also collaborating with London-based Urban Legacies to develop Urban Adventure, a 150,000-square-foot entertainment facility. The building will offer 20 interactive and experiential activities including an indoor ice climbing wall, surfing, skydiving, zip lining and a trampoline park. An expected date of completion for the development has yet to be announced. Urban Commons is a Los Angeles-based real estate investment and development firm with a portfolio of assets across the United States. — Katie Sloan
ATLANTA — Winter Construction has broken ground on a 266,000-square-foot hotel by Marriott, located on 14th Street near the intersection of Peachtree Street in Atlanta’s Midtown neighborhood. The hotel will be dual branded as AC Hotel, which will comprise 133 rooms, and Moxy Hotel, which will offer 155 rooms. The hotels will share several levels of parking and a rooftop pool and bar. Cooper Carry Inc. designed the $70 million project; Noble Investment Group is the developer.
DUNN, N.C. — MCR Development LLC, a hotel owner-operator, has completed renovation of the Hampton Inn by Hilton Dunn, a 120-room, select-service hotel located along the I-95 corridor in Dunn, approximately 40 miles south of Raleigh. The renovations included new landscaping, the addition of LED lighting to the exterior, a fresh painting and with new beds and furniture.
KING OF PRUSSIA, PA. — Cronheim Hotel Capital has secured $12 million in financing for a Holiday Inn Express & Suites in King of Prussia, a suburb of Philadelphia. The 10-year, non-recourse CMBS loan includes a fixed interest rate.
