Tuesday, December 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Hospitality

AlabamaDevelopmentHospitalityMixed-UseRetailSoutheast

RCP Unveils Plans for $300M Mixed-Use Expansion at MidCity District in Huntsville

by John Nelson

HUNTSVILLE, ALA. — RCP Cos. has unveiled plans for MidCity Arts + Innovation, a 12-acre development within the larger $2.2 billion MidCity District in downtown Huntsville. The project represents a $300 million investment and will expand the development’s master plan by three city blocks along Sanderson Road. MidCity Arts + Innovation will be anchored by MidCity Live, a 3,000-seat indoor music venue jointly designed by Matheny Goldmon Architects and Urban Design Associates. RCP will name an operating partner for the venue in early 2026. MidCity Live will join The Orion Amphitheater, an existing 8,000-seat music venue within MidCity District. Other components of the expansion will include a new location for The Camp, an outdoor venue and community gathering space; two hotels, including a 200-room, music-branded hotel; a tech-centric office campus developed by the Apollo Coalition nonprofit; and approximately 60,000 square feet of new retail and entertainment space.

Continue Reading
FacebookTwitterLinkedinEmail
Stewart-Hotel-Manhattan
AcquisitionsDevelopmentHospitalityMultifamilyNew YorkNortheast

Partnership Buys Midtown Manhattan Hotel for $255M, Plans Affordable Housing Conversion

by Taylor Williams

NEW YORK CITY — A partnership between local owner-operator Slate Property Group and nonprofit supportive housing developer Breaking Ground has acquired the Stewart Hotel in Midtown Manhattan for $255 million with plans to implement an affordable housing conversion. Slate will develop the project, which will convert the 611-room hotel into a 579-unit apartment complex, and Breaking Ground will own and operate the property upon completion. The 31-story hotel, which is located across from Penn Station and closed in 2022, also features a 100-space underground parking garage, 12,000 square feet of ground-floor retail space and 3,500 square feet of ballroom space. All units will be reserved for low-income households and/or formerly homeless individuals, with rents to range from $1,385 to $1,731 per month. Construction is scheduled to begin late next year. As part of the redevelopment, the project team will replace all major utility and mechanical systems, upgrade lighting and merge adjacent hotel rooms into living spaces as needed. New office space will be constructed for onsite social services, and the building will also have full-time security and maintenance staff.

Continue Reading
FacebookTwitterLinkedinEmail
HospitalityIllinoisLoansMidwest

Red Oak Capital Holdings Provides $10M Acquisition Loan for Metro Chicago Hotel

by Kristin Harlow

SCHILLER PARK, ILL. — Red Oak Capital Holdings has provided a $10 million loan for the acquisition and refurbishment of the Four Points by Sheraton Chicago O’Hare Airport hotel. Structured under Red Oak’s Core-Plus Bridge Loan program, the nonrecourse loan features an 18-month initial term, interest-only payments and a loan-to-stabilized value of 54.5 percent. The loan proceeds will be used to fund a portion of the $13 million purchase price and support initial capital improvements. Stratos Athanassiades of Red Oak originated the financing, which was underwritten by Thomas Gorski and administered by James Myatt. The borrower was a seasoned hospitality investor with a portfolio of 20 assets worth in excess of $70 million in gross asset value, including 10 hospitality properties across the Midwest. Located at 10249 W. Irving Park Road in Schiller Park, the 295-room, 195,000-square-foot hotel sits on 7.5 acres adjacent to Chicago O’Hare International Airport. Originally built in 1985 and renovated in 2015, the full-service property includes an indoor pool, meeting space, restaurant, gift shop and fitness center. The borrower’s business plan includes a new Marriott franchise agreement, modest room upgrades in the first year and a larger, Marriott-approved property improvement plan (PIP) renovation thereafter. The buyer …

Continue Reading
FacebookTwitterLinkedinEmail
HospitalityLoansSoutheastTennessee

Newmark Arranges $51M Refinancing for Virgin Hotels Nashville

by John Nelson

NASHVILLE, TENN. — Newmark has arranged a $51 million loan for the refinancing of Virgin Hotels Nashville, a 14-story hotel located at 1 Music Square W in Nashville’s Music Row district. Jordan Roeschlaub, Nick Scribani, Tyler Dumon, Holden Witkoff and Tate Keir of Newmark arranged the loan through Apollo. The borrower, Virgin Group, opened the 262-room hotel in July 2020. Virgin Hotels Nashville features multiple food-and-beverage eateries, including a rooftop bar, speakeasy and a signature restaurant with indoor and outdoor dining space. Other features include a rooftop pool with private cabanas, a fitness center and more than 15,000 square feet of meeting and event space.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityNew YorkNortheast

Maine Course Hospitality Buys 113-Room Hotel in Saratoga Springs, New York

by Taylor Williams

SARATOGA SPRINGS, N.Y. — Regional owner-operator Maine Course Hospitality Group has purchased the 113-room Homewood Suites Saratoga Springs hotel, located north of Albany. The extended-stay hotel was built in 2017 and offers amenities such as a fitness center, business center, indoor pool and a sport court. Denny Meikleham and John Kluh of Berkadia represented the seller, a joint venture between DelMonte Hotel Group and XSS Hotels, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityTexas

Crow Holdings to Undertake $100M Renovation of Hilton Anatole Hotel in Dallas

by Taylor Williams

DALLAS — Crow Holdings will undertake a $100 million renovation of the Hilton Anatole, a 1,610-room hotel located northwest of downtown Dallas. Trammell Crow Co. originally developed the hotel on a 52-acre site in 1979. The renovation will be carried out in phases over the next several years, with completion slated for 2028. Updates to 718 guestrooms were recently completed, and the next phase will include renovations to another 899 guestrooms and 600,000 square feet of meeting and event space. The project will also enhance the hotel’s food-and-beverage offerings, which at present include nine restaurants and bars. The Hilton Anatole also houses a water park and curated art from the Crow family collection.

Continue Reading
FacebookTwitterLinkedinEmail
Hilton-Richmond-The-Mondelle
DevelopmentHospitalitySoutheastVirginia

Shamin Hotels Breaks Ground on $160M Hilton-Branded Hotel, Conference Center in Richmond

by Abby Cox

RICHMOND, VA. — Virginia’s largest hotel owner and operator Shamin Hotels has broken ground on Hilton Richmond The Mondelle, a 270-room full-service hotel and conference center located in Chesterfield County. The $160 million project will anchor Springline at District 60, a $1 billion mixed-use development underway at the intersection of Midlothian Turnpike and Chippenham Parkway. The Mondelle will feature more than 30,000 square feet of meeting space, including a 12,600-square-foot grand ballroom. The 11-story hotel will also include a signature restaurant with outdoor dining, a second-floor indoor/outdoor executive meeting center with a biergarten, a rooftop restaurant and cocktail bar, as well as an infinity pool. Truist Bank provided construction and bond financing for the project, which represents the first full-service hotel and conference center to be constructed in the Richmond market since 2009.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalitySoutheastTennessee

Bradford Allen Acquires 193-Room TownePlace Suites Hotel in Nashville

by Abby Cox

NASHVILLE, TENN. — Bradford Allen has acquired TownePlace Suites Nashville Midtown, a 193-room hotel located near Vanderbilt University in Nashville’s Midtown neighborhood. Opened in 2021, the 10-story hotel features a fitness center, onsite parking, meeting space and a rooftop lounge with grilling stations. The hotel’s studio guest suites also offer full kitchens and oversized living, work and sleep areas. Additionally, a convenience store and the hotel’s 60-seat restaurant and bar are located adjacent to the fifth-floor sky lobby. The first floor also includes two retail spaces, which are leased to Subway and Takumi, a Japanese restaurant scheduled to open in first-quarter 2026. Ron Danko and James Maher of CBRE represented the seller, 3H Group, in the transaction. The sales price was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
InterContinental-New-York-Times-Square
AcquisitionsHospitalityNew YorkNortheast

Partnership Acquires 607-Room InterContinental New York Times Square Hotel

by Taylor Williams

NEW YORK CITY — A partnership between two hospitality owner-operators, Gencom and Highgate, as well as New York City-based investment firm Argent Ventures, has acquired the 607-room InterContinental New York Times Square hotel in Midtown Manhattan. According to Hospitality Investor and The New York Business Journal, the sales price was $230 million. The 34-story hotel offers approximately 20,000 square feet of meeting and event space, multiple onsite food-and-beverage options and a 24-hour fitness center. The new ownership plans to renovate guestrooms, public spaces and dining venues. Eastdil Secured represented the seller, a joint venture between Tishman Realty and MetLife Investment Management, in the transaction and arranged acquisition financing for the deal through Monroe Capital.

Continue Reading
FacebookTwitterLinkedinEmail
Edition_nashville
HospitalityLoansMultifamilySoutheastTennesseeTop Stories

Tidal Real Estate Receives $400M in Construction Financing for Nashville Edition Hotel & Residences 

by Abby Cox

NASHVILLE, TENN. — Tidal Real Estate Partners has received $400 million in construction financing for The Nashville Edition Hotel & Residences, a 28-story mixed-use tower that is under construction in the state capital’s Gulch district. The project will comprise 261 hotel rooms and 84 condos. Tidal is developing The Nashville Edition Hotel & Residences in collaboration with Left Lane Development and Marriott International. The project team also includes architecture firms ESa and INC Architecture & Design, as well as Corcoran Reverie of Corcoran Sunshine Marketing Group. The construction financing, which includes both debt and equity, was provided by affiliates of KSL Capital Partners, Madison Realty Capital, Newbond Holdings and affiliates of the developer.  “The Nashville Edition is the type of design-forward, experiential project that elevates an entire neighborhood, and this financing reflects our conviction in both the long-term strength of The Gulch and Tidal’s ability to deliver a truly landmark development,” says Josh Zegen, managing principal and cofounder of Madison Realty Capital. The hotel component will occupy the lower floors of the tower and will feature various amenities, including a double-height restaurant and bar, lobby lounge, a 50-foot heated saltwater pool with cabanas and a wraparound deck with bar and restaurant service. …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts