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Hospitality

Diplomat-Beach-Resort
FloridaHospitalityLoansSoutheast

JLL Arranges $600M Refinancing for The Diplomat Beach Resort in Hollywood, Florida

by Abby Cox

HOLLYWOOD, FLA. — JLL has arranged the $600 million refinancing of The Diplomat Beach Resort, a 1,000-room hospitality development located in the South Florida city of Hollywood near Fort Lauderdale/Hollywood International Airport. Kevin Davis, Mike Huth, Wyatt Krapf, Jade Lewin and Malia Buljat of JLL’s Hotels & Hospitality team arranged the floating-rate loan through JP Morgan Chase & Co. and Citibank on behalf of the borrower, a joint venture between real estate funds managed by Trinity Investments and UBS Asset Management’s Global Real Assets business. The refinancing follows a comprehensive $80 million renovation program completed by Hilton Worldwide and the ownership group to convert the property to the Signia by Hilton brand. The Diplomat Beach Resort consists of a twin-spired, 36-story tower containing hotel rooms and suites, a 15,000-square-foot spa, six restaurants and bars, multiple pools and waterfalls and approximately 200,000 square feet of integrated meeting and event space. Additionally, the property is situated on 10 acres of Atlantic Ocean beachfront that offers kayaking, paddleboarding and jet ski rentals.

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AcquisitionsHospitalityTexas

Hunter Advisors Arranges Sale of 141-Room Aloft San Antonio Airport Hotel

by Taylor Williams

SAN ANTONIO — Atlanta-based hospitality brokerage firm Hunter Advisors has arranged the sale of the 141-room Aloft San Antonio Airport Hotel. The Marriott-branded, select-service hotel was built in 2009 and offers amenities such as a pool, business center, fitness center, conference facilities and airport shuttle service. The buyer was an entity doing business as Armada Investments LP, and the seller was undisclosed. Kami Burnette and Mason McDavid of Hunter Advisors brokered the deal.

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CaliforniaHospitalityLoansWestern

Ensemble Investments Receives $110M Loan for 250-Room Hotel NIA in Menlo Park, California

by Amy Works

MENLO PARK, CALIF. — Ensemble Investments has obtained $110 million in financing for the refinancing and fund closing costs for Hotel NIA, an operating, full-service hotel in Menlo Park. Madison Realty Capital, working with Newfound Holdings, originated the loan for the borrower. Offering 250 guest rooms, the hotel operates as part of Marriott’s Autograph Collection and is the only full-service hotel within the Menlo Gateway campus. Hotel NIA features 241 standard rooms, nine suites, three food-and-beverage outlets, a heated outdoor pool and jacuzzi, 24-hour fitness center and 301 valet parking spaces. Additionally, the hotel offers 15,345 square feet of indoor and outdoor meeting and event space, including the 4,968-square-foot Brilliance Ballroom. Ensemble plans to transition hotel operations in-house to Ensemble Hospitality, its affiliated management platform.

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AcquisitionsHospitalityIllinoisMidwest

Hunter Advisors Brokers Sale of 233-Room Homewood Suites Chicago-Downtown Hotel

by Kristin Harlow

CHICAGO — Hunter Advisors has brokered the sale of the Homewood Suites Chicago-Downtown hotel, a 233-room, extended-stay property in Chicago. Spencer Davidson and Riana Stadlen of Hunter brokered the sale. The Hilton-branded hotel is located at 40 E. Grand Ave., one block from the Magnificent Mile. The all-suite property occupies floors six through 19 of a 19-story building and offers apartment-style accommodations with fully equipped kitchens and separate living and sleeping areas. Amenities include 1,784 square feet of meeting space, a rooftop indoor pool and fitness center, a business center and complimentary breakfast. According to Hunter, the asset offers value-add opportunities.

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Aloft-Hotel-Las-Colinas-Irving
AcquisitionsHospitalityTexas

Hunter Advisors Arranges Sale of 136-Room Hotel in Irving

by Taylor Williams

IRVING, TEXAS — Atlanta-based brokerage firm Hunter Advisors has arranged the sale of Aloft Hotel Las Colinas, a 136-room hospitality property in Irving. The hotel was originally built in 2008. Amenities include an outdoor pool, fitness center, business center, meeting space and an onsite bar and restaurant. Kami Burnette and Mason McDavid of Hunter Advisors brokered the deal. The buyer and seller were not disclosed. The new owner plans to implement capital improvements.

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DevelopmentHospitalityTexas

NewcrestImage Completes Renovation of 296-Room Hotel in Dallas

by Taylor Williams

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.

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DevelopmentHospitalityIllinoisMidwest

50-Room Backbeat Hotel to Open in Chicago’s Northalsted Community

by Kristin Harlow

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.

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JW-Marriott-Marco-Island-Beach-Resort
AcquisitionsFloridaHospitalitySoutheastTop StoriesUncategorized

Joint Venture Buys Marriott-Branded Hotel in Southwest Florida for $835M

by Taylor Williams

MARCO ISLAND, FLA. — A joint venture between an affiliate of Sculptor Real Estate and Miami-based hospitality firm Trinity Investments has purchased the JW Marriott Marco Island Beach Resort, an 809-room hotel in southwest Florida for $835 million. The seller, MassMutual, owned the hotel resort for the past four decades. The sales price translates to more than $1,000 per room. The purchase is being financed with a $690 million acquisition loan. Situated on more than 26 acres with a quarter-mile of private beachfront, the JW Marriott Marco Island offers a variety of suites as part of its accommodations. According to another industry publication, Hotel Management, the hotel first opened in 1971 as the Marco Island Beach Hotel & Villas and was converted to a Marriott brand following a $320 million renovation in 2017. Today, guests at the hotel can enjoy amenities such as 140,000 square feet of meeting and event facilities, 12 dining and entertainment venues and a private membership club, as well as five pools and a 24,000-square-foot spa. In addition, patrons of the hotel have access to more than 400 acres of additional golf and resort activities and features. The new ownership plans to make capital improvements to …

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Bolsa-Pacific-Westminster-CA
CaliforniaDevelopmentHospitalityMixed-UseMultifamilyRestaurantRetailWestern

Shopoff Realty Breaks Ground on Westminster Mall Redevelopment Project in Orange County

by Amy Works

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.

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DevelopmentHospitalityMidwestMissouri

Midas Hospitality Begins $81M Renovation of Historic Edison Brothers Building in St. Louis

by Kristin Harlow

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 …

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