Hospitality

MIG Real Estate Acquires Two Hilton-Branded Hotels in Savannah

by John Nelson August 6, 2015

SAVANNAH, GA. — MIG Real Estate has purchased two Hilton-branded hotels in Savannah’s midtown neighborhood for an undisclosed price. The two hotels, Hilton Garden Inn Savannah Midtown and Hampton Inn & Suites Savannah Midtown, are located on Abercorn Street roughly 3.5 miles from Savannah’s Historic District. Opened in 2007, the Hilton Garden Inn has nearly 3,500 square feet of meeting space and a heated outdoor pool and whirlpool, fitness center, restaurant and bar. The Hampton Inn & Suites opened in 2009 and offers 2,000 square feet of meeting space, as well as a fitness center and an indoor pool and spa. MIG has tapped Raleigh, N.C.-based Concord Hospitality Enterprises to operate the two hotels. Hodges Ward Elliott represented the seller, Atlanta-based North Point Hospitality, in the transaction.

August 6, 2015

Hospitality Midwest Missouri

HREC Arranges Sale of Embassy Suites St. Louis Airport  in Bridgeton, Mo.

by Jonathan Mehall August 4, 2015

BRIDGETON, MO. — HREC has arranged the sale of a 163-room, full-service Embassy Suites St. Louis Airport Hotel in Bridgeton, located about 20 miles northwest of St. Louis. Terms of the transaction were not disclosed. The hotel is situated immediately off I-70 and is less than two miles from Lambert-St. Louis International Airport, a major hub for Southwest Airlines. Monty Levy, Jeff Preston and Scott Stephens of HREC represented the seller, Fairwood Capital LLC, in the transaction. The property was purchased by an institutional buyer and will be managed by Schulte Hospitality Group.

August 4, 2015

Hampton Inn & Suites Greenville/Spartanburg

Hospitality South Carolina Southeast

Marcus & Millichap Brokers $11.3M Sale of Hotel in Metro Greenville

by John Nelson August 4, 2015

DUNCAN, S.C. — Marcus & Millichap has brokered the $11.3 million sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg. The five-story hotel is located at 108 Spartangreen Blvd. in Duncan, a suburb of Greenville. The hotel is located near I-85, Tyger River Park, the headquarters of Denny’s and the BMW manufacturing plant. David Greenberg and Robert Hunter of Marcus & Millichap’s Fort Lauderdale office represented both the buyer and seller in the transaction. Raj Ravi is Marcus & Millichap’s broker of record in South Carolina.

August 4, 2015

Hospitality Illinois Midwest

Hyatt Centric The Loop Chicago Celebrates Grand Opening

by Jonathan Mehall August 3, 2015

CHICAGO — Hyatt Centric The Loop Chicago, located downtown at 100 W. Monroe St., celebrated its grand opening on Thursday, July 30. The 22-story historic building was originally constructed in 1927. Hyatt Centric The Loop Chicago features 257 guestrooms, 2,500 square feet of meeting space, a 24-hour fitness center, rooftop bar and a French bistro restaurant. Located in the Loop district, the hotel puts guests near many external attractions such as Millennium Park, Navy Pier and The Art Institute of Chicago. Integrated Clark Monroe LLC owns Hyatt Centric The Loop Chicago, which is operated by Interstate Hotels & Resorts.

August 3, 2015

Hospitality New Jersey Northeast

HREC Arranges Sale of 119-Room Clinton Inn Hotel & Event Center in New Jersey

by Amy Works August 3, 2015

TENAFLY, N.J. — HREC Investment Advisors has arranged the sale of the Clinton Inn Hotel & Event Center located at 145 Dean Drive in Tenafly. The buyer, 145 Dean Drive LLC, acquired the 119-room property for an undisclosed sum. Ketan Patel and Geoff Davis of HREC represented the seller, Concord Hospitality Enterprises, in the transaction.

August 3, 2015

Hospitality Texas

M&M Arranges Sale of 146-Room Hotel in Fort Worth

by Haisten Willis August 3, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Motel 6 Fort Worth South, a 146-room hospitality property located in Fort Worth. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s Marcus & Millichap’s San Antonio office, marketed the property on behalf of the seller, a private investor. Cooper sourced the buyer, a local investment group and an experienced Motel 6 operator. Motel 6 Fort Worth South is located at 6600 S. Freeway in Fort Worth, directly off I-35 and just south of Altamesa Boulevard. Constructed in 1981, the asset is situated on 3.3 acres. The two-story property features a guest laundry facility, new televisions, updated guest room flooring, new bedding and desks with seating areas. At the time of listing, Motel 6 Fort Worth South was in the process of implementing a new design concept.

August 3, 2015

Hospitality Midwest Missouri

The Marcus Corporation Agrees to Sell Historic Hotel Phillips in Kansas City, Mo.

by Jonathan Mehall July 31, 2015

KANSAS CITY, MO. — The Marcus Corporation has agreed to sell the historic Hotel Phillips in Kansas City to an affiliate of Chicago-based Arbor Lodging Partners, a national owner and manager of hotels. Terms of the transaction were not disclosed. The Marcus Corporation has owned and managed the 217-room Hotel Phillips for 14 years. The hotel, which dates back to 1929, offers over 11,000 square feet of meeting and function space, as well as a restaurant and lounge. The official sale and transition of management will take place Sept. 1.

July 31, 2015

Florida Hospitality Massachusetts Northeast

Chatham Lodging Trust Acquires Two Hotels for $55.5M

by Amy Works July 31, 2015

DEDHAM, MASS., AND FT. LAUDERDALE, FLA. — Chatham Lodging Trust has acquired two hotels from Claremont Cos. for $55 million, or approximately $298,000 per room. The company purchased the 81-room Residence Inn Boston in Dedham, which recently underwent a $2 million renovation program, and is under contract to acquire the 105-room Residence Inn Fort Lauderdale Intracoastal/Il Lugano in Fort Lauderdale. The 14-story property was converted from a Il Lugano Hotel and Residences to a Residence Inn in 2014. Both properties will be managed by Island Hospitality Management.

July 31, 2015

Connecticut Hospitality Northeast

HREC Arranges Sale of 98-Room Nathan Hale Inn in Connecticut

by Amy Works July 31, 2015

STORRS, CONN. — HREC Investment Advisors has arranged the sale of the Nathan Hale Inn & Conference Center in Storrs. The University of Connecticut (UCONN) purchased the property for an undisclosed sum. Situated on the campus of UCONN, the property features 98 guestrooms. Ketan Patel and Geoff Davis of HREC represented the undisclosed seller in the transaction.

July 31, 2015

Hospitality Southeast Virginia

Hunter Hotel Advisors Brokers $11M Sale of Richmond Homewood Suites

by John Nelson July 30, 2015

RICHMOND, VA. — Hunter Hotel Advisors has brokered the $11 million sale of Homewood Suites Richmond West End, a 123-room hotel in Richmond. A global private equity firm sold the four-story hotel to a Virginia-based hotel company. Teague Hunter and Trey Scott of Hunter Hotel Advisors brokered the transaction.

July 30, 2015

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