DALLAS — HFF has arranged the sale of a three-property hotel portfolio totaling 313 rooms in San Antonio. HFF marketed the property on behalf of the seller, Barshop & Oles Co. Silverwest Hotels LLC purchased the assets for an undisclosed amount. The hotels in the portfolio are the 118-room Fairfield Inn & Suites San Antonio NE/Schertz, located at 5008 Corridor Loop in Schertz; the 98-room Hampton Inn & Suites San Antonio/Schertz, located at 17702 IH-35 North in Schertz; and the 97-room Hampton Inn San Antonio – Northwoods, located at 2127 Gold Canyon Drive in San Antonio. All of the hotels, which opened between 2000 and 2009, feature a business center, fitness room, outdoor pool, complimentary breakfast and meeting space. All of the assets are located along major traffic arteries in the San Antonio/Austin corridor. John Bourret and Brooks led the HFF investment sales team representing the seller.
LITTLETON, MASS. — Marriott has broken ground on Courtyard by Marriott at The Point, a $100 million, 540,000-square-foot mixed-use retail destination in Littleton. The four-story hotel will feature 115 rooms with flexible workspaces, casual meeting space, a business center, a 24/7 market, free WiFi, GoBoard Touchscreens, a breakfast area, gym, pool, outdoor courtyard seating and a first-floor restaurant. The hotel joins O’neil Cinemas, The Paper Store and numerous restaurants at The Point. The Courtyard by Marriott is slated to open in Spring 2016. Boston-based Sam Park & Co. is developing The Point, a mixed-used retail center in Boston’s MetroWest area.
NEENAH, WIS. — Paramount Lodging Advisors has arranged the sale of Holiday Inn Neenah Riverwalk, located at 123 E. Wisconsin Ave. in Neenah, near the Fox Cities area of Wisconsin. The hotel includes 107 rooms, 13,000 square feet of meeting and banquet space, a full-service restaurant and a sports bar. The buyer, a regional hotel company, plans to renovate and rebrand the property. Adam Montufar, Brent Clemens and Bennett Webster of Paramount Lodging Advisors represented the undisclosed seller in the transaction, which utilized the Auction.com platform. The sales price was not disclosed.
BOYNTON BEACH, FLA. — HFF has secured an $11.3 million construction loan for the development of a 116-room TownePlace Suites hotel in Boynton Beach, a coastal town in South Florida. The property will be built on a 2.8-acre site on Gateway Boulevard east of Congress Avenue and north of the Boynton Beach Mall. The hotel will have studio, one- and two-bedroom suites with full kitchens, a market for snacks and meals, swimming pool, fitness center and a putting green. Mike Kavanau, Elliott Throne and Alexandra Lalos of HFF arranged the loan through City National Bank of Florida on behalf of the borrower, North Boynton Beach Hospitality LLLP.
AUSTIN, TEXAS — DoubleTree by Hilton Austin Northwest – Arboretum is now open in Austin. The hotel is located less than a mile from the Arboretum shopping mall and one block from the MoPac Expressway and I-183 intersection. The former Holiday Inn underwent a multi-million dollar transformation that included a redesign of the lobby, updated guest rooms, new furniture, a new restaurant and bar and expanded meeting and event space. The hotel is owned by 8901 Austin Hotel LLC and managed by Driftwood Hospitality Management. Amenities include a 24-hour fitness center, business center, outdoor pool and WiFi.
DENVER — WoodSpring Suites has announced its plan to open six new hotels in the Denver area over the next four years. The company has partnered with Pure Strike Development LP and CAMTOD Group on the agreement. Value Place was rebranded as WoodSpring Suites this past April. This development agreement will grow the brand to a total of 15 properties throughout Colorado. The group’s first hotel in the Denver area will be located in Centennial. It is scheduled to break ground next March. Once completed, the hotel will feature amenities like in-room kitchens, free high-speed internet and guest laundry facilities. The extended-stay hotel brand also recently announced its newest addition, WoodSpring Suites Signature, which is “designed to appeal to less price sensitive guests,” according to the company. WoodSpring Suites is focused on strategic expansion across the U.S. through corporate- and franchise-owned development. The company expects to break ground on 30 additional properties by the end of the year. Expansion plans through 2017 include the addition of corporate and franchised properties in major metropolitan markets like Los Angeles, Seattle, Portland, Ore., Chicago, Philadelphia, Boston, Miami and Minneapolis.
NEW ORLEANS — Provenance Hotels, GB Lodging and Woodbine Development Corp. have partnered to co-develop and open the Old No. 77 Hotel & Chandlery, a boutique hotel located in New Orleans’ historic Warehouse Arts District. Originally built in 1854, the historic property is located at the intersection of Tchoupitoulas and Lafayette streets, roughly four blocks from the French Quarter. The hotel features hardwood floors, exposed brick walls, an art collection courtesy of the New Orleans Center for the Creative Arts and a new restaurant. Nina Compton is the head chef and owner of the restaurant, known as Compere Lapin. In August 2013, Provenance Hotels and GB Lodging purchased the historic hotel property, then known as the Ambassador Hotel. The companies partnered with Woodbine Development to renovate the hotel and expand the guest room count to 167. According to the hotel’s website, rooms rent for as low as $109 per night.
ROMEOVILLE, ILL. — Holladay Properties has partnered with WoodSpring Suites, formerly Value Place, to develop the first WoodSpring Suites hotel in Romeoville, located west of Chicago. Located at 1093 Windham Parkway, the four-story hotel will feature 116 rooms with in-room kitchens, free high-speed Internet and guest laundry facilities. The hotel is slated to open in April 2016.
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IRVING, TEXAS — Woolley’s Classic Suites is set to build in Avion Business Park, a 50-acre tract of land located along State Highway 114 and Royal Lane in Irving. KDC is developing the business park. The 250-room, full-service hotel offers amenities including an on-site restaurant and lounge, in-suite dining, 24-hour gift shop and business center, meeting spaces, laundry, fitness center and complimentary airport shuttle. Avion Business Park is the second location in the United States for the Woolley’s Classic Suites hotel brand. The first Woolley’s opened in Denver in May of 2014. Construction on Woolley’s Classic Suites will begin in fall of 2015 with completion scheduled for winter 2016.
MINNEAPOLIS — HFF has secured $25 million in refinancing for the DoubleTree Suites by Hilton Hotel Minneapolis, a 12-story hotel located in downtown Minneapolis. HFF arranged the three-year, floating-rate loan with two optional one-year extensions through BBVA Compass Bank for the borrower, Wheelock Street Capital LLC. Proceeds of the loans will be used to refinance a loan, which was assumed by the borrower upon its acquisition of the property in 2012. Located at 1101 LaSalle Ave., the 150,752-square-foot property was renovated in 2013 and features 229 suites, 1,162 square feet of meeting space, a second-floor merchandising suite, parking garage, 24-hour business and fitness centers, in-house Starbucks Coffee and Lot 57, a full-service restaurant and lounge. Steven Klein and Sam Nidenberg of HFF represented the borrower in the financing.