REBusinessOnline

City of Grand Prairie, Concord Hospitality Break Ground on Two Hotels Totaling 276 Rooms

GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located roughly midway between Dallas and Fort Worth, and North Carolina-based operator Concord Hospitality have broken ground on two hotels totaling 276 rooms. The Hilton Garden Inn will total 129 rooms and will offer a restaurant, pool, fitness center and business services. The Homewood Suites will consist of 147 suites with full kitchens and multiple formats, as well as two restaurants and a convention center with a 10,000 square-foot …

Hodges Ward Elliott Arranges $305M Sale of Condor Hospitality Portfolio Across Sun Belt, Kansas

ATLANTA — Atlanta-based Hodges Ward Elliott (HWE) has arranged the $305 million sale of the real estate holdings of Bethesda, Md.-based Condor Hospitality Trust, including a portfolio of 15 select-service hotels located across the Southeast, Texas and Kansas. Daniel Peek, Clint Hodges, John Bourret, Austin Brooks, Mike Tormey and Carolina Bernal of HWE represented Condor Hospitality in the transaction. The buyer was not disclosed.The Condor Hospitality Trust portfolio has an average age …

Hodges Ward Elliott Arranges Sale of 811-Room Hyatt-Branded Hotel in Dallas

DALLAS — Hodges Ward Elliott has arranged the sale of the 811-room Hyatt Regency DFW International Airport, located adjacent to Terminal C at Dallas-Fort Worth International Airport. The recently renovated property offers four food and beverage concepts and 92,000 square feet of meeting and event space. John Bourret, Austin Brooks and David Auer of Atlanta-based Hodges Ward Elliott represented the undisclosed seller in the transaction. The buyer and sales price were also not

Travel, Employment, Supply Chain Issues All Impact Hotel Sector, Says CBRE Report

DALLAS — Since the COVID-19 pandemic began there have been many changes in travel, employment and supply chain issues, all of which have an effect on the hospitality sector, according to the U.S. Hotels State of the Union: CBRE Hotels Research Report. Dallas-based CBRE released the report earlier this month.Travel reboundsRegarding travel, the sector seems to have picked up momentum. CBRE says air travel is above 80 percent of pre-COVID-19 levels after high levels of travel during …

DSH Hotel Advisors Arranges Sale of 90-Room Days Inn By Wyndham in Clearwater, Florida

CLEARWATER, FLA. — DSH Hotel Advisors, a Tampa-based hotel brokerage and advisory firm, has arranged the sale of Days Inn By Wyndham, a 90-room hotel in Clearwater. Dennis Hopper and Randy Taylor of DSH represented the seller, an entity known as Mega C Hospitality LLC, and the buyer, an entity known as Prism Development LLC. The sales price was not disclosed.Located at 2940 Gulf to Bay Blvd., the Days Inn is about 13.6 miles from Tampa International Airport and six miles from Clearwater …

Songy Highroads to Open 218-Room Hyatt Centric Buckhead Atlanta Hotel

ATLANTA — Songy Highroads (SHR) will open the Hyatt Centric Buckhead Atlanta, a 218-room hotel located in Atlanta’s Buckhead district. The hotel will open in mid-December adjacent to Bloomingdale’s at Lenox Square. In early 2020, Atlanta-based SHR started to develop the hotel in a joint venture with Hyatt Hotels Corp. New York-based Sawyer & Co. designed the hotel.The Hyatt Centric Buckhead Atlanta hotel has two dining options both run by James Beard Award-winning chef Hugh …

Marcus & Millichap Brokers $55.5M Sale of Martinique New York Hotel in Manhattan

NEW YORK CITY — Marcus & Millichap has brokered the $55.5 million sale of the 531-room Martinique New York hotel, located at the corner of Broadway and 32nd Street in Manhattan. Eric Anton and Nelson Lee led a Marcus & Millichap team that represented the seller, New York-based Herald Hotel Associates LP, in the transaction. The buyer was Oklahoma City-based Burnett Equities. Marcus & Millichap also represented the new ownership in negotiations for several retail leases that were …

New Extended Stay America Suites Hotel Opens in Minot, North Dakota

MINOT, N.D. — ESH Strategies Franchise LLC has opened the first Extended Stay America Suites hotel in North Dakota. The three-story, 66-room hotel is located in Minot. Elevation LLC is the property owner and National Hospitality Services is the operator. The hotel features a market, onsite bar, business center, meeting space, complimentary breakfast, Wi-Fi and an outdoor pavilion. The 440-square-foot suites are equipped with refrigerators, stovetops, cookware, dishes and walk-in

Forecast Survey: What’s Your Take on Commercial Real Estate in 2022?

The editors of REBusinessOnline.com are conducting a brief online survey to gauge market conditions in 2022, and we welcome your participation. The survey should only take a few minutes to complete.Questions range from property sectors that you are most bullish on heading into 2022 to trends in deal volume to your outlook for interest rates.The results of our 11th annual survey will be collated and published in the January issues of our regional magazines. Conducting these surveys is …

JLL Secures $180M Refinancing for Miami Beach Edition Hotel

MIAMI BEACH, FLA. — JLL’s Hotels & Hospitality Group has secured $180 million in financing for the Miami Beach Edition hotel, a 294-room hotel located at 2901 Collins Ave. on the beach. Kevin Davis and Barnett Wu of JLL Hotels & Hospitality arranged the financing on behalf of the undisclosed borrower.Redesigned in 2014, Miami Beach Edition offers traditional guest rooms and suites, including 28 private bungalows and a rooftop penthouse, and has direct access to 380 linear feet …

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