NEW YORK CITY — The grand opening has been held for the Holiday Inn Wall Street, a 20-story hotel located at 51 Nassau St. in the Financial District of Manhattan, New York City. Owned by McSam Hotel Group, the hotel is a conversion project. It features 113 guestrooms, a 24-hour fitness center and a full-service restaurant. Hersha Hospitality Management is the manager of the property.
Hospitality
BOSTON — Construction is complete for the renovation and conversion of Boston's historic Ames Building into a 114-room boutique hotel. The 14-story building, the second tallest masonry building in the country, is located at One Court St. in the city's Financial District. Constructed in 1889, it was added to the National Register of Historic Places in 1974. A joint venture between Normandy Real Estate Partners and Morgans Hotel Group owns the hotel, with Morgans serving as operator. Tishman Construction Corp. was the general contractor for the renovation. Morgans' in-house design team collaborated with Rockwell Group for the design.
MORGANTOWN, W. VA. — Super 8 Motel Developers has sold a 58-room Super 8 Motel in Morgantown to Anami Hotels for an undisclosed amount. The buyers will undertake cosmetic renovations to the property. David Mumford, Ed James and Justin Pinkard of Mumford Co.'s Newport News, Va., office represented the seller.
NORTH CHARLESTON, S.C. — 7401 Northwoods Boulevard Holdings has sold the 197-room Ramada North Charleston to Homecourt Hospitality for an undisclosed amount. The property features a fitness room, indoor and outdoor pools, and 6,000 square feet of meeting space. Jones Lang LaSalle Hotels brokered the sale.
NEW YORK CITY — Gemini Real Estate Advisors has acquired the notes to three hotels located in Midtown Manhattan, New York City. The performing loans have a combined par value of $43 million. The underlying hotels are select service and boutique properties that contain a total of 173 rooms. They are located in close proximity to Rockefeller Center, Broadway and Times Square. The acquisition price and the seller's name were undisclosed.
GREENSBORO, N.C. — BPR Properties has purchased the 81-room Ashford Suites Hotel from Jorgenson Cos. for an undisclosed amount. The property is located at the entrance to the Piedmont Centre Office and Industrial Park in Greensboro. Features include 2,400 square feet of meeting space, a fitness center and an indoor pool. Jones Lang LaSalle Hotels brokered the sale.
MEMPHIS, TENN. — Peabody Place Hotel Co. has sold the 144-room Hampton Inn & Suites Memphis Beale Street to Fairwood Capital for an undisclosed amount. The 10-year-old property, which was renovated in 2007, is located at 175 Peabody Place in Memphis. The Memphis office of Wyatt, Tarrant & Combs represented Fairwood in the transaction.
SAVANNAH, GA. — American Hotel Development Partners has opened the 88-room Holiday Inn Express Inn & Suites Savannah in midtown Savannah. The property will be managed by Harris Hotel Group. The hotel, part of a worldwide brand relaunch by InterContinental Hotels Group, has replaced an old two-story Holiday Inn.
KANSAS CITY, MO. — DLR Group, serving as architect of record, has designed the renovations for The Raphael Hotel, a 123-room hotel in Kansas City. The phased-construction renovation allowed the hotel to remain operational throughout the rehabilitation, which began in 2006. The newly completed guestrooms and bathrooms offer modern finishes and improved technology. Additionally, the renovated hotel features a state-of-the-art fitness center and new meeting rooms, as well as a renovated hotel lobby and restaurant. The hotel is owned by Lighthouse Properties. Gettys Group provided interior design services for the project.
GOODLETTSVILLE, TENN. — R-Roof V-I has sold a 108-room Red Roof Inn to Gayatri MAA for $2.5 million. The property is located near Interstate 65 in Goodlettsville. Each unit in the two-story building features high-speed Internet, a coffee maker and a hairdryer. The buyer is planning to undertake renovations to the hotel. Anthony Falor of Hodges Ward Elliott represented the seller in the transaction. Gayarti was represented internally.