Hospitality

Arden Group Acquires Sheraton Hotel in Atlanta, Plans $7M in Renovations

by Jeff Shaw March 28, 2017

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.

March 28, 2017

Colorado Hospitality Western

Rockies Lodging Capital Buys Two Hotels in Fort Collins

by Nellie Day March 27, 2017

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.

March 27, 2017

California Hospitality Western

Pacifica Host Hotels Divests Best Western Plus Otay Valley in San Diego

by Nellie Day March 27, 2017

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.

March 27, 2017

Hospitality Louisiana Southeast

Hilton Opens 207-Suite Hotel in New Orleans

by Taylor Williams March 27, 2017

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.

March 27, 2017

California Hospitality Mixed-Use Retail Top Stories Western

Urban Commons Unveils Plans for $250M Mixed-Use Development in Long Beach, Calif.

by Katie Sloan March 23, 2017

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

March 23, 2017

Georgia Hospitality Southeast

Winter Construction Breaks Ground on $70M Marriott Hotel in Midtown Atlanta

by Taylor Williams March 22, 2017

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.

March 22, 2017

Hospitality North Carolina Southeast

MCR Completes Renovation of Hampton Inn by Hilton in Dunn, N.C.

by Taylor Williams March 22, 2017

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.

March 22, 2017

Hospitality Northeast Pennsylvania

Cronheim Secures $12M Financing for Holiday Inn Express & Suites in Metro Philadelphia

by Haisten Willis March 21, 2017

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.

March 21, 2017

Hospitality Massachusetts Northeast

Homewood Suites by Hilton Opens in Metro Boston

by Haisten Willis March 20, 2017

CHELSEA, MASS. — Homewood Suites by Hilton Boston Logan Airport Chelsea is now open at 145 Beech St. in Chelsea. XSS Hotels owns the 152-suite property, and Colwen Hotels is the manager. Homewood Suites by Hilton Boston Logan Airport Chelsea offers studio and one-bedroom suites with kitchens and separate living and sleeping areas. Amenities include complimentary breakfast, an evening social Monday through Thursday, Wi-Fi, an indoor heated pool and fitness center. The property offers 2,200 square feet of flexible meeting space that can accommodate more than 200 guests.

March 20, 2017

Connecticut Hospitality Northeast

R. Calabrese Agency Negotiates Land Sale for Courtyard by Marriott in Southington, Conn.

by Haisten Willis March 20, 2017

SOUTHINGTON, CONN. — Tony Valenti and Ralph Calabrese of R. Calabrese Agency have brokered the sale of three acres of vacant commercial property in Southington to AVA Development LLC. The property is located on the West Street (Route 229) corridor near I-84. The new owner will commence construction on a Courtyard by Marriott Hotel, with groundbreaking scheduled for this spring. S&G LLC was the seller and R. Calabrese Agency was the sole broker involved in the transaction.

March 20, 2017

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