Virtua Credit Arranges $14M Loan to Refinance Hampton Hotel in Metro Philadelphia

CLOSTER, N.J. — JLL’s Capital Markets team has closed an $11 million loan for the refinancing of Reuten Corporate Park, a 156,782-square-foot industrial and office development in Closter, located across the Hudson River from Yonkers. The property spans five buildings featuring 95,528 square feet of industrial space and 61,254 square feet of office space and was 99 percent leased at the time of sale. Tenants include logistics firm Nippon Express and Rayence, a distributor of flat panel …

May 23, 2019Hospitality, Loans, Northeast, Pennsylvania

Conrad Hotel to Anchor $540M Mixed-Use Project in Nashville

NASHVILLE, TENN. — Propst Development, Chartwell Hospitality LLC and Hilton Worldwide have signed Conrad Nashville, a luxury Hilton branded hotel, to anchor Broadwest, a $540 million mixed-use project in Nashville. Set to open in 2021, the hotel will occupy 14 stories of a 34-story building and comprise 237 rooms. The remaining stories will include 196 condominiums. Propst and Chartwell will co-own Conrad Nashville, and Chartwell will handle management services. Cooper Carry designed the …

May 23, 2019Development, Hospitality, Southeast, Tennessee

Mission Capital Arranges $8M Refinancing Loan for Hotel Near Miami International Airport

MIAMI — Mission Capital Advisors has arranged an $8 million refinancing loan for the EB Hotel Miami, a 133-room hotel located at 4299 N.W. 36th St., across the street from Miami International Airport. The borrower, Eurobuilding Hotels, originally acquired the property in 2007 when it was an office building. Eurobuilding Hotels transformed the asset into a hotel that offers an outdoor pool with poolside bar, 24-hour fitness center, bar and lounge, as well as business, meeting and event …

May 23, 2019Florida, Hospitality, Loans, Southeast

Compass Commercial Negotiates $4.2M Sale of Jot’s Resort Hotel in Gold Beach, Oregon

GOLD BEACH, ORE. — Compass Commercial Real Estate Services has arranged the $4.2 million sale of Jot’s Resort, a hotel located at 94360 Wedderburn Loop in Gold Beach. The names of the seller and buyer were not released. Situated on 7.3 acres at the mouth of the Rogue River, the resort features 102 one-bedroom/one-bath guestrooms, a marina, pool, gift and tackle shop, and fitness center, as well as Rod ‘n Reel Restaurant & Bar, a fully equipped restaurant. Dan Kemp of Compass …

May 22, 2019Acquisitions, Hospitality, Oregon, Western

Rhode Island — The Land of Hotels, Schools and Medical Properties

Thus far in 2019, much of the growth and development in Rhode Island has been focused on downtown Providence. Much of this has to do with the colleges and hospitals, as well as the residential component in general. But Rhode Island continues to develop hotels, especially in downtown, due in part simply to having a vibrant, in-demand city. Officials want to create the ability for Providence to compete for and attract top-tier conventions. [caption id="attachment_228950" align="alignright" …

May 22, 2019Hospitality, Market Reports, Northeast, Northeast Market Reports, Rhode Island

Cushman & Wakefield Arranges $39.6M Sale of Vacant Hotel in South Florida

PALM BEACH, FLA. — Cushman & Wakefield has arranged the $39.6 million sale of The Palm House Hotel, a 79-room hotel in Palm Beach. The hotel was originally built in 1961 and expanded in 1981. In 2006, the hotel underwent renovations that halted in 2014. The hotel is now vacant. The buyer, an affiliate of London + Regional Properties, acquired the site via a Section 363 bankruptcy sale. Robert Given, Errol Blumer, Robert Kaplan and Michael Mulkern of Cushman & Wakefield represented 160 …

May 21, 2019Acquisitions, Florida, Hospitality, Southeast

HDA Architects, JNS Architects Design $45M AC Hotel in St. Louis

ST. LOUIS — HDA Architects and JNS Architects have completed the design of a new $45 million AC Hotel in the Central West End of St. Louis. The seven-story building will have 192 guest rooms. The project will be situated near the BJC Institute of Health at Washington University. The development team includes Koplar Properties, Concord Hospitality Enterprises and Homebase Partners. MC Hotel Construction is the general contractor. Construction is scheduled to commence this

May 21, 2019Development, Hospitality, Midwest, Missouri

Sam Moon Group Breaks Ground on 148-Room Hyatt House Hotel in Metro Houston

SHENANDOAH, TEXAS — Hospitality developer Sam Moon Group has broken ground on a 148-room Hyatt House hotel within the Metropark Square mixed-use development in Shenandoah, located north of Houston. The five-story property will feature studio, one- and two-bedroom suites with fully equipped kitchens and separate living guestrooms. Communal amenities will include a pool and a fitness center, a bar and a lounge. VCC is the general contractor for the project, and Type Six is the architect. …

May 20, 2019Development, Hospitality, Texas

RAL Development Completes 324-Room Hotel, Resort Project in Upstate New York

MONTICELLO, N.Y. — Manhattan-based RAL Development Services has completed The Kartrite Resort & Indoor Waterpark, a 324-room hotel and resort located in the Upstate New York city of Monticello. Located about 90 minutes outside New York City at the former site of The Concord Resort, The Kartrite’s signature feature is a two-acre indoor water park, the largest such attraction in the state. The property offers an array of other amenities for children, including a rock climbing wall, ropes …

May 20, 2019Development, Hospitality, New York, Northeast

128-Room Cambria Hotel Opens in Downtown Omaha

OMAHA, NEB. — Choice Hotels International Inc. has opened the Cambria Hotel Omaha Downtown. The 128-room hotel is the newest addition to Omaha’s NoDo district. The property features a fitness center, multi-function meeting space and onsite dining with local craft beer on tap. The LEED Silver-certified hotel incorporates a number of eco-friendly features, including a solar array on the roof, a saltwater pool that reduces chemical usage, electric vehicle car charging stations and recycled …

May 17, 2019Development, Hospitality, Midwest, Nebraska