DALLAS — Locally based hospitality investment and management firm NewcrestImage has completed the renovation of Hotel Mockingbird, a 296-room establishment in the Highland Park area of Dallas. In addition to various property upgrades, ownership introduced two new food-and-beverage concepts: Verse Kitchen and Bar, a speakeasy-style restaurant, and Raven, which offers refined drinks and light bites. NewcrestImage acquired the Hotel Mockingbird, formerly known as the Beeman Hotel, in October 2024. Coury Hospitality manages the hotel.
CHICAGO — A 50-room boutique hotel is planned for Chicago’s Northalsted community named Backbeat Hotel. The first hotel of its kind in the heart of the city’s LGBTQ+ neighborhood, the 41,000-square-foot property will offer modern, design-forward accommodations, including 12 suites. Amenities will include a rooftop pool, street-level restaurant, gathering spaces and a below-ground lounge. Built on the site of the renowned Northalsted fixture Yoshi’s Café, which shuttered in 2021, the six-story hotel project is designed by Miami-based Studio Rodrigo Buelvas in collaboration with Chicago-based Jonathan Splitt Architects. Inspired by Chicago’s connection to the origins of house music, “Backbeat” draws its name from the music that rose from disco basements and house lofts on Halsted Street. Demolition of the existing structure is slated for later this year, with an anticipated opening in 2028.
WESTMINSTER, CALIF. — Shopoff Realty Investment has broken ground on Bolsa Pacific at Westminster, a mixed-use redevelopment of the vacant Westminster Mall in Orange County. Designed by AO, the project will transform the former mall into a 83.3-acre downtown destination. Upon completion, Bolsa Pacific will feature 2,250 residential units, 220,000 square feet of retail and restaurant space, a 120-key hotel and more than 15 acres of publicly accessible open space. The residential component will include market-rate and affordable housing, as well as for-sale townhomes spread across five multifamily buildings. Demolition of the former Westminster Mall is underway. The existing Target will remain open during construction, with a new store planned and relocated within the overall development. The project is located along the 405 Freeway and 10 minutes from the Los Angeles County border. In 2024, the scope of the initial project expanded from a 25.8-acre assemblage to encompass the full 83.3-acre former mall site. The expansion enables a comprehensive reimagining of the property that will transform the single-use retail center into a connected mixed-use district.
ST. LOUIS — Midas Hospitality has begun an $81 million revitalization of the historic Edison Brothers Building in downtown St. Louis. The project includes updates to the hotel and public spaces, new street-level amenities and the restoration of the building’s mural. The property is planned to reopen in fall 2027 as the Sheraton St. Louis Downtown. Located at 400 S. 14th St., the nearly 950,000-square-foot building was repurposed more than 20 years ago and has since included 72 condominiums and a 270-room hotel. Midas’ plans call for 284 fully updated hotel rooms, expansive meeting and event space on the building’s top floor and a rooftop outdoor deck serving both guests and event participants. Central to the project is the restoration of the building’s trompe l’oeil mural, originally painted in 1984 by artist Richard Haas. Midas has retained Haas to restore the artwork. Financing partners include Acres Capital, The Bank of Missouri and Peachtree Group. Historic tax credit partners include Historic Equity Inc. and Commerce Bank. The project also received support from the City of St. Louis and the condominium association, Breckenridge 1400 Condominium Association. The design and construction team includes MBG (general contractor), Gray Design Group (architect), Avenir Group (interior …
NEW YORK — VICI Properties Inc. (NYSE: VICI), a REIT specializing in owning and operating gaming, hospitality and entertainment developments, has completed a $1.2 billion sale-leaseback of seven casino properties from Golden Entertainment Inc. (Nasdaq: GDEN). Under the terms of the deal, which was previously announced in November, Golden will be taken private by chairman and CEO Blake Sartini. In addition, Golden Entertainment shareholders have received approximately 24.3 million shares of newly issued VICI stock in exchange for the outstanding shares of Golden Entertainment stock. VICI will also assume and repay up to $426 million of Golden Entertainment’s outstanding debt using a combination of cash and net proceeds from the transaction. iGaming Business, a business-to-business trade publication and news website for the online gambling and betting industry, reported that VICI acquired the following properties: In total, the properties include 6,000 hotel rooms, 4,306 slot machines and 78 gaming tables, according to iGaming Business. “This transaction reflects the strategic direction Golden Entertainment has been building toward — a sharper focus on our core Nevada casino and tavern operations and becoming a private company,” says Blake L. Sartini, chairman and CEO of Golden Entertainment. “We’ve long respected VICI’s approach, and this partnership …
HOUSTON — Extended Stay America has opened a 146-room hotel in Houston’s Galleria district. Extended Stay America Suites – Houston – Galleria is a pet-friendly hotel that features suites with fully equipped kitchens, including full-size refrigerators, stovetop microwaves and cookware, as well as dedicated work and dining areas. Communal amenities include a fitness center, grab-and-go market and onsite laundry facilities. An entity doing business as SAI RAM Galleria LLC owns the hotel.
TAMPA, FLA. — Newmark has arranged a $94.4 million loan for the refinancing of Hotel Cala, formerly known as Hotel Tampa Riverwalk. The 281-room is located along the 2.6-mile Tampa Riverwalk overlooking the Hillsborough River in downtown Tampa. Jordan Roeschlaub, Nick Scribani, Ricky Braha, Tyler Dumon and Tate Keir of Newmark arranged the financing through Bain Capital and Smith Hill Capital on behalf of the borrower, a partnership between Newbond Holdings and Apollo. The ownership is executing a comprehensive repositioning strategy at Hotel Cala, including a full renovation and rebranding of the property into a luxury hotel under the Curio Collection flag. Renovations will include upgrades to guest rooms, meeting spaces and amenity offerings, including a flagship food-and-beverage concept. The construction timeline for the repositioning was not disclosed.
SAVANNAH, GA. — Noble Investment Group has opened Tempo by Hilton Savannah Historic District, a 148-room hotel located at 220 E. Bryan St. in downtown Savannah. Situated off Reynolds Square and steps from the Savannah River, the hotel represents the first Tempo by Hilton property in Georgia. McKibbon Hospitality manages the hotel on behalf of Noble. Each hotel room offers spa-inspired bathrooms with Bluetooth speaker mirrors and Apotheke bath products; Sealy Accelerate mattresses; Peloton bikes; yoga mats; and resistance bands. Amenities include a lobby with gathering spaces, 3,000 square feet of meeting spaces and a 24-hour fitness center. Food-and-beverage offerings include Waving Girl Rooftop, a rooftop bar, and Bluestone Lane Café, an Australian-style café overlooking Reynolds Square.
SEATTLE — Sonnenblick-Eichner Co. has arranged $24 million in first mortgage debt to refinance Cedarbrook Lodge in Seattle. A private real estate debt fund provided the nonrecourse, floating-rate, interim five-year loan. Located at 18525 36th Ave. S, Cedarbrook Lodge features a 167-room, full-service hotel situated on 7 acres of restored wetlands, more than 17,000 square feet of meeting space, a 1,600-square-foot fitness center, the 3,000-square-foot The Spa at Cedarbrook Lodge and Copperleaf Restaurant & Bar. Additionally, the property is less than two miles east of Seattle-Tacoma International Airport.
MATTOON, ILL. — SVN Chicago Commercial has brokered the $17.1 million sale of the 102-room Hilton Garden Inn Mattoon. Constructed in 2022, the property is located at 100 Coles Centre Parkway and features Hilton’s new branded layout. Derek Gonsch of SVN Chicago represented the undisclosed seller. Lekhraj Ahuja, a local investor and experienced hotel operator, was the buyer.
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