IRVING, TEXAS — The Buccini/Pollin Group, a hospitality and management firm with offices throughout the Mid-Atlantic, has acquired the 302-room Sheraton DFW Airport Hotel in Irving for $46 million. The hotel recently received $7 million in upgrades to its common areas, meeting rooms and guestrooms. Additional features include 25,000 square feet of meeting space in addition to a pool, exercise facility and business center. The seller was not disclosed.
ATLANTA — Woodbine Legacy Investments (WLI) has acquired W Atlanta-Buckhead, a 12-story, 291-room hotel in Atlanta’s Buckhead district. The sales price was not disclosed, but the Atlanta Business Chronicle reports the Texas-based private real estate fund, created by Woodbine Development Corp. in June, acquired the asset for $73 million. Mark Elliott and Todd Ratliff of Hodges Ward Elliott brokered the transaction. W Atlanta-Buckhead is home to Whiskey Blue, a rooftop bar and Cook Hall restaurant. The hotel also features a 24-hour fitness center, yoga and barre classes, an infinity pool and 11,000 square feet of flexible indoor and outdoor meeting and event space. W-Atlanta Buckhead marks the second acquisition for WLI.
SPRINGFIELD, MASS. — HREC Capital Markets Group has arranged a $6.2 million senior loan for the refinancing of a La Quinta Inn & Suites, located at 100 Congress St. in Springfield. The hotel features 208 guestrooms. John Siska of HREC’s Boston office negotiated the loan for the borrower, a private owner-operator. A local community bank provided the financing.
SAN DIEGO — An undisclosed buyer has acquired the 63-room Rodeway Inn San Diego for $7.5 million. The hotel is located at 5399 Adobe Falls Road, near Qualcomm Stadium. Joshua Yammer, Sarhan Mheni and Walter Brauer of Marcus & Millichap represented the seller, a partnership, in this transaction.
NEW YORK CITY — Sun Moon LLC is developing a Marriott Fairfield at 100 Greenwich St. in Lower Manhattan. Slated to open this summer, the 75,000-square-foot hotel will feature 192 rooms and 2,400 square feet of ground-floor restaurant and bar space. Gene Kaufman Architect designed the hotel, which features a five-story black granite base. The hotel’s 25-story tower uses air rights that were part of a zoning lot assemblage. The assemblage includes a previously completed 50-story Holiday Inn, located at 99 Washington St. VLDG designed the interior of the hotel.
HOUSTON — HH&S Hospitality LLC has purchased Candlewood Suites Houston Medical Center, an 80-room hotel located at 10025 Main St. in Houston. The Houston-based lodging investment firm will spend an unspecified amount in renovations to the hotel’s common areas and rooms. Friendwood, Texas-based Pika Hotel Group sold the property to HH&S for an undisclosed price.
BOLINGBROOK, ILL. — Peak Construction Corp. has completed the Marriott Residence Inn located in Bolingbrook, a southwest suburb of Chicago. Peak provided design-build services for the 103-room extended-stay hotel. Amenities at the four-story, 77,000-square-foot property include a swimming pool, outdoor patio and multi-purpose sport court. Norr Architects served as the project architect, while Manhard Consulting Ltd. provided civil engineering services. Love Hotel Management Co. will manage the property.
You’d be hard-pressed to find a commercial real estate company in the Midwest more active than Bedrock Detroit. The full-service firm — which acquires, leases, finances, develops and manages commercial and residential space — has several projects in the development pipeline spread across property types. Since its founding in 2011, Bedrock has located more than 160 office and retail tenants to Detroit’s “technology-centric” downtown. In addition, Bedrock and its affiliates have invested more than $3.5 billion in acquiring, renovating and developing slightly more than 100 properties totaling about 16 million square feet in downtown Detroit and Cleveland. Bedrock is commonly referred to as the real estate arm of billionaire businessman Dan Gilbert’s Rock Ventures. Gilbert is the chairman and founder of Rock Ventures and Quicken Loans Inc., the mortgage lending giant headquartered in Detroit. Diverse project portfolio In January, a joint venture between Shinola/Detroit LLC and Bedrock broke ground on the eight-story, 130-room Shinola Hotel. Located at 1400 Woodward Ave., the boutique hotel is scheduled to open in fall 2018. (Shinola, a Detroit-based company, is best known as a manufacturer of watches, bicycles and leather goods.) Chef Andrew Carmellini and Noho Hospitality are developing the food and beverage offerings to ensure …
BAYTOWN, TEXAS — Pennsylvania-based investment firm Sigma Hospitality has opened Home2 Suites by Hilton Baytown, a 96-room hotel located off Interstate 10 at 7512 Garth Road in the Houston metro of Baytown. The hotel will offer amenities such as a combined laundry and fitness center, outdoor pool and meeting space that can accommodate up to 61 people. The property is also pet-friendly.
MINNEAPOLIS — CBRE has arranged a $26.9 million loan for the construction of The Elliot Park Hotel in downtown Minneapolis. The 168-room Autograph Collection hotel by Marriott will be located on the northeast corner of 5th Avenue South and South 9th Street. The boutique hotel, slated to open in summer 2018, is part of a block redevelopment by Kraus–Anderson. The redevelopment will include a new corporate office for Kraus-Anderson, a 17-story apartment tower and a microbrewery. Jason Brown, Dan Gable, Joel Torborg and Jonathan Rice of CBRE arranged the loan on behalf of the Wilkinson Corp. Bank of the Ozarks provided the three-year loan.
