CLYDE, OHIO — Laurel Real Estate Co., a boutique commercial real estate brokerage and member of Hotel Brokers International, has arranged the sale of the Red Roof Inn hotel in Clyde, a city in northern Ohio. The seller engaged Laurel to manage the disposition as part of a broader portfolio restructuring. A local owner-operator was the buyer. Dan Uhl of Peachtree Group arranged acquisition financing.
HUNTSVILLE, ALA. — Forman Capital has provided a $20.5 million bridge loan for Hotel Indigo, a newly built, 112-room boutique hotel located within Huntsville’s MidCity District. Ben Jacobson, Scott Mehlman, Ty Regnier and Cameron Fleury of Forman Capital secured the loan on behalf of the borrower and developer, ViaNova Development. The loan paid off the construction financing for the five-story hotel. The pet-friendly property, which is expected to open over the next few weeks, will feature meeting space, an onsite restaurant and a fitness center.
NASHVILLE, TENN. — JLL has arranged the refinancing of a tri-brand Marriott hotel located at 410 Rep. John Lewis Way S in downtown Nashville. Opened in 2019, the hotel combines three Marriott selective-service hotel brands and is one of two tri-brand hotel properties in the United States, according to JLL. The property comprises AC Nashville Downtown (209 rooms), Residence Inn Nashville Downtown/Convention Center (172 rooms) and SpringHill Suites Nashville Downtown/Convention Center (125 rooms). Kevin Davis, Dan Peek, Mark Fisher, Carolina Bernal, Carly Pomerantz and Malia Buljat of JLL arranged the five-year loan on behalf of the borrower, North Point Hospitality. Terms of the financing were not disclosed. North Point completed a $13 million expansion last year that added 36 Residence Inn Elite rooms to the property. Amenities at the property include eight food-and-beverage outlets, as well as 9,016 square feet of meeting space, an outdoor pool and hot tub deck, fitness center, sundries shop and 275 onsite parking spaces with valet service.
STANTON, TEXAS — Marcus & Millichap has brokered the sale of a 50-room hotel in Stanton, located just outside of Midland in West Texas. Built in 2015, the hotel is operated under the Super 8 by Wyndham brand and offers fitness and business centers, as well as a breakfast area. Alexander Curry and Chris Gomes of Marcus & Millichap represented the seller, Dallas-based LIG Hotels, in the transaction. Rajan Patel, also with Marcus & Millichap, represented the buyer, an undisclosed, Houston-based partnership.
COVINGTON, LA. — Red Oak Capital Holdings LLC has provided an $8.4 million loan for a hotel-to-multifamily conversion project in Covington. The borrower, an investment group represented by Nebo Capital, is using the financing to purchase the former WeStay Suites hotel at 140 Holiday Blvd. and reposition it into an 87-room apartment community. The 12-month bridge loan will fund the $6.9 million acquisition and $1.8 million in planned improvements for the conversion. The five-story, 89,831-square-foot hotel was built on 2.9 acres in 2009 and features an outdoor pool, fitness center and community rooms. The borrower has completed a similar hotel-to-multifamily adaptive reuse project in the Covington area, according to Red Oak Capital. The borrower plans to refinance the bridge loan upon completion of the renovation with permanent or agency debt.
SALT LAKE CITY — The Domain Cos., in partnership with Cottonwood Group, has closed on $102 million in financing for the development of hotel at 370 S. West Temple in downtown Salt Lake City. Completion is slated for first-quarter 2028. Slated to operate under IHG Hotels & Resorts’ Kimpton brand, the 10-story hotel will feature 216 guest rooms, food-and-beverage options, including upscale and casual dining and a rooftop bar. Additional hotel amenities will include a fitness center, 7,000 square feet of meeting space, valet parking and indoor and outdoor terraces for year-round social and corporate gatherings. The hotel will be within walking distance of major city landmarks, such as Delta Center, Salt Pace Convention Center, City Creek Center and Restaurant Row. The project team includes Solomon Cordwell Buenz as project architect, Goodrich and Studio Mainer as interior designer and Wadman as general contractor. Stonebridge Cos. will manage the project. Matt Weiner, Jay Morrow and Dustin Stolly of Walker & Dunlop handled the financing transaction.
STATE COLLEGE, PA. — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $40 million construction loan for a 70-room hotel and condo project in State College. The site is located at the gateway to Penn State University’s campus, and the building will include ground-floor retail space. Residences/hotel rooms will feature premium finishes, and residents will have access to 24/7 security, concierge and housekeeping services, as well as use of a fitness center. An undisclosed national lender provided the nonrecourse loan to the borrower, which also requested anonymity.
GAINESVILLE, TEXAS — Atlanta-based hospitality brokerage firm Hunter Hotel Advisors has arranged the sale of an 83-room hotel in Gainesville, located north of the metroplex. The Fairfield Inn & Suites Gainesville I-35 hotel was built in 2019 and offers amenities such as an indoor pool, fitness center, business center and 450 square feet of meeting and event space. Kami Burnette and Mason McDavid of Hunter Hotel Advisors represented the seller, an entity doing business as Texoma 35 LLC, in the transaction.
WOODBRIDGE, N.J. — The hotel division of local financial intermediary Cronheim Mortgage has arranged a $13.2 million loan for the refinancing of two hotels in the Northern New Jersey community of Woodbridge. The 101-room Comfort Suites was built in 1998, and the 90-room Fairfield Inn & Suites was built in 2003. David Turley led the Cronheim team that secured the five-year, fixed-rate loan through an undisclosed bank. The undisclosed borrower plans to use a portion of the proceeds to convert the Comfort Suites property into a 96-room TownePlace Suites hotel.
SANTA FE, N.M. — Ashford Hospitality Trust has competed the disposition of La Posada de Santa Fe, a Tribute Portfolio Resort & Spa, to Abo Sada LLC for an undisclosed price. Kami Burnette and Brian Embree of Hunter Advisors represented both parties in the transaction. Situated on more than 5 acres in downtown Santa Fe, La Posada features 157 guest rooms and suites, multiple food-and-beverage venues, a full-service spa and approximately 7,700 square feet of meeting space. The resort’s dining options include several distinct outlets, including the historic Staab House lounge.
