SAN ANTONIO — Houston-based XE Hospitality, represented by JJ Williams and Jason Brumm of Grubb & Ellis, has purchased 3 acres of land in northwest San Antonio from Thomas Enterprises. The company intends to use the land to develop a Hilton Garden Inn. The hotel calls for 130 rooms and 3,000 square feet of meeting space and is expected to be completed in the third quarter of 2012. It is located in The Rim, a master-planned, 2 million-square-foot, mixed-use center developed by Thomas Enterprises at the intersection of Interstate 10 and La Cantera Parkway.
CANNON BEACH, ORE. — Sonnenblick-Eichner Co. has arranged $20.5 million in first-mortgage financing for the 97-room Surfsand Resort, located at 148 West Gower in Cannon Beach. To be used to pay off an existing renovation and redevelopment loan previously placed by Sonnenblick-Eichner, the new 5-year, LIBOR-based, non-recourse loan was financed by a private debt fund. The full-service resort underwent a $13.2 million renovation and redevelopment in 2008. Situated 90 minutes from Portland and approximately 3 hours from Seattle by car, Surfsand Resort offers a restaurant with a lounge and bar, a spa, a fitness center, an indoor pool and 3,600 square feet of meeting space.
PHILADELPHIA — Local student housing developer Campus Apartments has broken ground for the construction of a new hotel in Philadelphia's University City submarket. The new Homewood Suites by Hilton will be located at 4109 Wanut St., within close proximity to the University of Pennsylvania and Children's Hospital of Philadelphia. It will contain 136 extended-stay suites that will feature full kitchens, dining tables and separate work areas with phone and Internet access. The $50 million project will also feature a fitness center, an indoor pool, a convenience store, and dining and meeting spaces. It will seek LEED certification. Completion is slated for spring 2012. Alesker & Dundon Architects is designing the project, and L.F. Driscoll Co. will serve as general contractor.
BOSTON — Northwood Investors has secured a $75 million acquisition loan for the Radisson Boston Hotel. Constructed in 1972, the 23-story hotel is located at 200 Stuart St. in Boston's Theatre District. The hotel features the 260-seat bistro Rustic Kitchen, a 120-seat café, 20,000 square feet of meeting space, the 490-seat Stuart Street Playhouse and an 8,000-square-foot auditorium. The loan carries a 4-year term with an adjustable-to-fixed interest rate. The lender was Wells Fargo Bank. Northwood plans to use part of the proceeds to convert the hotel into an independent property. Daniel Peek of HFF's Miami office and Riaz Cassum of the firm's Boston office arranged the loan.
WHIPPANY, N.J. — HEI Hotels & Resorts has completed Phase I of a $20 million renovation to the Hanover Marriott, a 353-room hotel located at 1401 Route 10 E in Whippany. The first phase of construction included upgrades to the hotel's common areas and systems. Auto-dimming systems that adjust interior lights based on the amount of natural light were installed. Water-efficient fixtures were installed, and mechanical and HVAC systems now have sensor controls. Phase II construction will upgrade the hotel's guest rooms with flat-screen televisions, new furniture and luxury bedding.
SALISBURY, MD. — Salisbury-based Marshall Hotels & Resorts has received assignments for three distressed hotel properties in the Northeast. The company has been named receiver for the Four Points by Sheraton Hotel & Suites Allentown Airport, a 145-room hotel located in Allentown, Pa., as well as the Holiday Inn Danbury, a 114-room hotel located in Danbury, Conn. It also has been named operator for the Holiday Inn Buffalo Amherst Hotel, a 199-room hotel located in Buffalo, N.Y., which is currently in receivership.
ROCKLIN, CALIF. — Cassidy Turley BT Commercial has brokered the $2.025 million sale of the 67-room Rocklin Park Hotel, located at 5450 China Garden Road in Rocklin. Onsite amenities include the Chops Grill & Oven and the luxurious Spa LaLé. Cassidy Turley BT Commercial’s Scott Griemsmann and Eric Gunderson represented the seller, LNR Partners LLC, in the transaction; the buyer was OMKAR Rocklin Inc.
MCCOMB, MISS. — Mississippi-based McComb Lodging LLC has acquired the Comfort Inn in McComb in an all-cash transaction. Located along Interstate 55, the hotel offers 55 guestrooms, high-speed Internet access, premium cable television, an outdoor pool and a fitness center. Hodges Ward Elliott's Select Service Division represented the undisclosed seller in the transaction. The sales price was not released.
PHILADELPHIA — Pebblebrook Hotel Trust has acquired the Sofitel Philadelphia Hotel for $87 million. The 306-room hotel is located in the Center City area of Philadelphia. It features 15,000 square feet of meeting space, a fitness center, a brasserie that serves French-style breakfast and a bar/lounge. The building was originally constructed in 1964 as the home of the Philadelphia Stock Exchange; it was converted into a hotel in 2000. The acquisition included the assumption of a a $56.1 million, non-recourse loan set to mature in February 2012. The loan carries a floating interest rate and interest-only payments. Pebblebrook also announced it has entered into an agreement to acquire another hotel located in the San Francisco Bay area for $84 million.
BAYTOWN — Arch-Con Construction has completed construction of a new Marriott SpringHill Suites, located at 5169 E. Freeway in Baytown, for Quad Hotels. The 75,000-square-foot hotel offers 101 guest rooms, a fitness room, an indoor pool and a sports bar. It also features 4,500 square feet of conference space.