Hospitality

Bayside Land Partners to Develop $1B Mixed-Use Project in Rowlett, Texas

by Amy Works January 13, 2017

ROWLETT, TEXAS — Bayside Land Partners, a partnership between Kent Donahue and Wilks Development, is developing Bayside, a $1 billion master-planned project encompassing 262 acres and featuring a variety of retail, restaurants, residential units and a resort hotel in the Lake Ray Hubbard area of Rowlett. Designed as a pedestrian-friendly, open-air resort, Bayside will feature more than 1.5 million square feet of commercial space, 3,000 residential units, a 1,000-slip marina and 700 hotel rooms. Lifescapes International will provide landscape design services for the project, including the development of the first-ever Crystal Lagoon in Texas. A Crystal Lagoon is a new technology that creates man-made lagoons with crystal-clear, turquoise waters in order to create a beachfront property. Additionally, Lifescapes will design a 116-acre peninsula, including 25 acres of parks, a variety of retail rooftop gardens and beach zones and the perimeter of the eight-acre Crystal Lagoon. Construction on the lagoon is slated to start this March and the project is scheduled to open by spring 2019.

January 13, 2017

Hospitality Loans New Jersey Northeast Pennsylvania

Sonnenblick-Eichner Co. Arranges $92M in Refinancing for Four Hotels

by Amy Works January 13, 2017

BEVERLY HILLS, CALIF. — Beverly Hills-based Sonnenblick-Eichner Co. has arranged $92 million in first mortgage debt to refinance a portfolio of four hotels totaling 592 rooms. The financing consists of four separate non-recourse, non-cross collateralized loans from three different lenders. Sonnenblick-Eichner Co. was able to arrange for a money center commercial bank to provide 10-year, fixed-rate financing on each of the Hyatt House properties and LIBOR-based floating rate financing from two regional banks for the remaining properties. The properties are the 147-room Hyatt House Philadelphia/King of Prussia in King of Prussia, Pa., the 126-room Hilton Garden Inn Albany/SUNY in Albany, N.Y., the 171-room Archer Hotel in Austin, Texas, and the 148-room Hyatt House Falls Church/Merrifield in Falls Church, Va.

January 13, 2017

Georgia Hospitality Southeast

Randolph Williamson Completes Construction of The Lodge by Chateau Elan in Georgia

by John Nelson January 12, 2017

BRASELTON, GA. — Peachtree City, Ga.-based Randolph Williams has completed construction of The Lodge by Chateau Elan, a new Hampton Inn & Suites by Hilton hotel located on the estate of Chateau Elan in Braselton. Located at 5159 Golf Club Drive, the 95-room hotel will feature free Wi-Fi, a 24-hour fitness center, meeting space and an outdoor pool with views of Chateau Elan’s vineyard. Chateau Elan Hotels & Resorts manages the hotel, which offers access to Georgia’s largest winery, 63 holes of golf, a 35,000-square-foot spa and seven restaurants.

January 12, 2017

Colorado Hospitality Western

Schulte Hospitality Buys Hyatt Place in Colorado Springs

by Nellie Day January 10, 2017

COLORADO SPRINGS, COLO. — Schulte Hospitality has purchased the 126-room Hyatt Place in Colorado Springs for an undisclosed sum. The hotel is located at 503 W. Garden of the Gods Road. CBRE Hotels’ Larry Kaplan and Mark Darrington represented the seller, a joint venture between Sage Hospitality and Whitman Peterson, in this transaction.

January 10, 2017

Hospitality Texas

The Meyers Group to Lead $50M Renovation of Historic Hotel Paso del Norte in El Paso

by Amy Works January 6, 2017

EL PASO, TEXAS — The Meyers Group has selected Kobi Karp Architecture and Interior Design for the $50 million renovation of the historic Hotel Paso del Norte, which is currently named Camino Real. Located at 101 S. El Paso St. in downtown El Paso, the 356-room hotel was originally built in 1912. Renovations are slated to begin in March and include upgrades to all rooms, as well as the second-floor grand ballroom and conference rooms. El Paso-based in’situ Architecture is also collaborating on the project. Renovations are scheduled for completion in 2018.

January 6, 2017

Georgia Hospitality Loans Mixed-Use Southeast

PCCP Participates in $135M Loan to Kessler for JW Marriott-Anchored Project in Savannah

by John Nelson January 5, 2017

SAVANNAH, GA. — PCCP LLC and a major national bank have provided a $135 million loan to The Kessler Enterprise Inc. for the development of Plant Riverside District, a $270 million, five-building mixed-use project in Savannah’s Historic District. Situated along the Savannah River, the development will include a 419-guestroom JW Marriott hotel, 13 food and beverage outlets, 22,000 square feet of meeting space, high-end retail space and a 488‐space parking garage. The project will include the repurposing of the historic Georgia Power Plant Building that will house 163 guestrooms, a spa and a portion of the project’s meeting space and food and beverage outlets. Kessler has selected general contractor Hunt Construction, locally based design architect Sottile & Sottile and production architects John T. Campo & Associates Architects and PFVS Architecture for Plant Riverside District’s design team. The ownership has commenced construction with completion anticipated for early 2019.

January 5, 2017

Hospitality Loans South Carolina Southeast

PMZ Realty Capital Arranges $24M Loan for Spartanburg Marriott

by John Nelson January 5, 2017

SPARTANBURG, S.C. — PMZ Realty Capital LLC has arranged a $24 million loan for The Spartanburg Marriott, a hotel in Spartanburg that features 240 rooms and seven suites. The property includes more than 30,000 square feet of meeting space, including 27 event rooms, three boardrooms and the 11,340-square-foot Heritage Ballroom. The unnamed borrower will consolidate its overall financing package into a single loan that features a fixed interest rate, according to Peter Berk of PMZ Realty Capital.

January 5, 2017

California Hospitality Top Stories Western

Carey Watermark Investors 2 Acquires The Ritz-Carlton, San Francisco

by Katie Sloan January 3, 2017

SAN FRANCISCO — Carey Watermark Investors 2 Inc. (CWI 2) has acquired The Ritz-Carlton, San Francisco for an undisclosed price. The 336-room hotel is located in the heart of the Nob Hill neighborhood of San Francisco along the California Cable Car line. The nine-story building was originally developed in 1909 and designed by Napoleon Le Brun & Sons of New York. The property received landmark status from the City of San Francisco in 1984, and re-opened as The Ritz-Carlton in 1991. Over $20 million of capital improvements have been completed since 2014. Recent improvements include the renovation of all guest rooms; updates to the lobby, including the addition of two retail outlets; the addition of a fitness center; renovations to the L’Occitane Spa, which includes a wine tasting lounge and jewelry boutique; and renovations to the hotel’s meeting space, which includes a 9,400-square-foot ballroom and 2,200 square feet of interior courtyard and function space. The Ritz-Carlton Company LLC, an affiliate of Marriott International, will continue to manage the property following the sale. The seller was not disclosed. Carey Watermark Investors 2 is a non-traded, publicly registered REIT that invests primarily in the hospitality sector. Affiliates of W. P. Carey Inc. …

January 3, 2017

Hospitality Texas

InLight Capital Purchases 102-Room Hampton Inn & Suites Austin Airport Hotel

by Amy Works December 23, 2016

AUSTIN, TEXAS — InLight Capital has acquired Hampton Inn & Suites Austin Airport Hotel, located at 7712 E. Riverside Drive in Austin. Pendo Investments sold the 102-room hotel for an undisclosed sum. Completed in 2001 and renovated in 2015, the hotel features 18 suites, an outdoor pool, 440 square feet of meeting space, a fitness center, business center and complimentary hot breakfast. Dan Peek, John Bourret and Austin Brooks of HFF represented the seller in the transaction.

December 23, 2016

Hospitality Texas

NewcrestImage Develops 142-Room AC Hotel in Oklahoma City

by Amy Works December 21, 2016

OKLAHOMA CITY — NewcrestImage is developing an AC Hotel in Oklahoma City. Slated to open in May 2017, the 142-room property will feature 81 modules to form the core of the property. Modules are independent standardized units that can be used to construct a more complex structure, including buildings. The first floor of the five-story hotel will feature traditional construction, while the remaining floors will consist of 81 modules. The modules include all interior furniture, furnishing and equipment and were produced by Boise, Idaho-based Guerdon Modular Buildings. Currently, NewcrestImage has a portfolio of 23 hotels, with an additional 14 hotel under construction or in development.

December 21, 2016

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