SPARTANBURG, S.C. — MCR Development LLC has completed an extensive renovation of the 88-room Residence Inn Spartanburg. The hotel is located at 9011 Fairforest Road in Spartanburg. The renovation includes upgrades to the lobby and guestrooms, as well as enhancements to the hotel’s exterior. The hotel’s guestroom suites were outfitted with brand new bedding, couches, dining chairs and carpeting, as well as a new wall pattern accompanied with new curtains and window treatments. Vinyl flooring was also installed in the kitchen of each suite. MCR Development is one of the 15 largest hotel owner-operators in the United States and manages a portfolio of 70 hotel properties with approximately 8,300 rooms in 17 states.
URBANCREST, OHIO — Value Place, an extended-stay hotel brand, has opened a newly constructed hotel in Urbancrest, Ohio. Value Place partnered with VP Columbus LLC to open the new hotel. The hotel is located at 3205 Centerpoint Drive and is within 10 miles of Columbus. The four-story, 124-room hotel features laundry facilities, high-speed wireless Internet and modified kitchens. The opening of this hotel brings the brand’s hotel count in Ohio to 13, with locations in Dayton, Cincinnati and Cleveland.
PARIS, TEXAS — Construction will begin this summer on a new addition to the campus of Paris Regional Medical Center (PRMC). The groundbreaking for the Paris Regional Medical Pavilion, a 40,000-square-foot medical office building, is slated for this summer. The new facility, which will connect to the main hospital, is designed to expand the range of services and improve accessibility for patients of northeast Texas and southeast Oklahoma. PRMC plans to occupy 60 percent of the new facility. Once complete, patients will have access to primary care, specialty care, laboratory and other services. Rendina Healthcare Real Estate will develop the project. Construction is expected to last approximately 10 months. The first phase of construction will coincide with the demolition of two vacant hospital buildings, which is a part of PRMC’s overall goal to enhance the campus environment and free up space for future expansion.
NEW YORK CITY — HFF has brokered the $22.4 million sale/leaseback and arranged $21 million in financing for Holiday Inn Manhattan View, a full-service hotel located in Long Island City in Queens. A New York-based private investor purchased the land under the hotel and then leased it back to the seller, Queens Plaza North LLC, for 99 years. HFF secured the fixed-rate loan through Cantor Commercial Real Estate (CCRE for Queens Plaza North LLC. Located at 39-05 29th St., the 16-story, 136-key hotel features a full-service restaurant, lounge with patio space, state-of-the-art fitness center, business center, 800 square feet of meeting space, concierge services, on-site parking and views of Manhattan. Robert Delitsky, KC Patel, Jackie Ferrer and Cindy True of HFF represented the seller in the transaction.
ORLANDO, FLA. — HFF has arranged financing for a three-property, 414-room hotel portfolio in Orlando. The properties include the 124-room Residence Inn Orlando Convention Center at 8800 Universal Blvd.; the 167-room SpringHill Suites Orlando Convention Center at 8840 Universal Blvd.; and the 123-room Hampton Inn Orlando International Airport at 5767 T.G. Lee Blvd. Each of the hotel properties were either renovated in 2013 or 2014. Michael Weinberg and Anthony Frogameni of HFF arranged the financing on behalf of the borrower, JHM Hotels.
HOUSTON — HFF has arranged the sale of the Aloft Houston Galleria, a 152-key boutique hotel near the Galleria in Houston. HFF marketed the property on behalf of the seller, HEI Hotels & Resorts (HEI). HEI will continue to manage the property. The select-service hotel is situated on nearly an acre at 5415 Westheimer Road, less than one mile from I-610. Built in 2009, the five-story Aloft by Starwood-branded hotel has 112 king, 30 double queen, five accessible king and five accessible queen guest rooms. The pet-friendly hotel features an indoor heated pool, a 24-hour fitness center, the camp Aloft program for kids aged two to 12, and 500 square feet of meeting space. Dan Peek, John Bourret, Colby Mueck and Austin Brooks of HFF represented HEI.
CHICAGO — The Virgin Group has opened its first property, Virgin Hotels Chicago. The new hotel brand will join a portfolio of hospitality companies led by Virgin Group and its founder, Sir Richard Branson. Virgin Hotels Chicago is located in Chicago’s Loop district in the historic Old Dearborn Bank Building at 203 N. Wasbash Ave. The 26-story Art Deco building includes 250 guestrooms, including 40 one-bedroom suites and two penthouse suites. All guestrooms are divided into two spaces by sliding doors. The dressing rooms include a full vanity, make-up desk and mirror, an extra-large shower with a bench and his and hers closets. Several of the building’s original features remain intact and are showcased throughout. Some of those include a 1920s oak cigar bar that serves as the hotel’s front desk, ornate brass elevator doors and an original mail slot and chute. Virgin Hotels plans to open a second location in Nashville in the summer of 2016 and a third property in New York City in 2017. The team will announce two additional locations by the end of 2016, with the brand planning to open 20 locations by 2025.
RALEIGH, N.C. — Concord Hospitality Enterprises and Kane Realty Corp. plan to develop and operate North Carolina’s first AC Hotel, a Marriott brand. The new 133-room hotel, known as AC Hotel Raleigh, will be located in Raleigh’s North Hills neighborhood. This is Concord and Kane Realty’s third hotel venture in the North Hills district. The hotel is slated to open in 2016.
MIAMI BEACH, FLA. — CBRE’s hotel and capital markets multifamily divisions have brokered the $21.6 million sale of Canyon Ranch Hotel and Spa at 6801 Collins Ave. in Miami Beach. Z Capital Partners LLC purchased the asset via a bankruptcy auction. The United States Bankruptcy Court Southern District of New York approved Z Capital Partners as the buyer. The private equity firm plans to reposition the asset into a five-star hotel called the Carillon Hotel and Spa, which will consist of 150 rooms. The hotel features 750 feet of beachfront and is located adjacent to L’Atelier, a 20-story condominium tower currently under construction. The new hotel will be managed by a new joint venture consisting of Z Capital; Adrian Zecha, founder of Amanresorts and GHM Hotels Ltd.; and Jonathan Breene, developer and creator of The Setai, South Beach.
NEW YORK CITY — Synapse Development Group and YOTEL are developing the first YOTEL-branded project in Brooklyn. Situated near the Brooklyn-Queens Expressway, the 100,000-square-foot mixed-use project will feature street-level retail space, a 110-key YOTEL Williamsburg hotel, residential condominiums and a rooftop garden. Designed by HWKN, the hotel is scheduled to open in 2017.