Hospitality

JIVDC Plans $270M Jamul Hotel in San Diego County

by Amy Works July 26, 2024

JAMUL, CALIF. — The Jamul Indian Village Development Corp. (JIVDC), a subsidiary of the Jamul Indian Village, has released plans for a $270 million Jamul Hotel to accompany the Jamul Casino in Jamul, approximately 20 miles east of San Diego. C.W. Driver Cos., as general contractor and construction manager, has topped out the 16-story project, which is slated for completion in spring 2025. The 254,000-square-foot hotel will feature 200 guest rooms, including 52 suites, an upscale restaurant, speakeasy bar, resort spa, banquet space and rooftop pool. The property will also feature a 350-space parking structure. JCJ Architecture provided architectural services for the project.

July 26, 2024

Acquisitions Development Healthcare Hospitality Office Washington Western

Kauri Investments Buys Medical Office Building in Bellevue, Washington for 150-Room Hotel Redevelopment

by Amy Works July 26, 2024

BELLEVUE, WASH. — Seattle-based Kauri Investments has acquired a freestanding medical office building, located at 1300 116th Ave. in the Seattle suburb of Bellevue, for $6.7 million. The seller and existing tenant, Eye Clinic of Bellevue, will lease back the 5,519-square-foot building until the ophthalmology practice moves into a more modern facility. Once the lease ends, Kauri plans to redevelop the asset, which is on a large parcel, into a 150-key hotel. Kauri Investments currently owns six other hotel sites Washington and Oregon. Pat Mutzel of Cushman & Wakefield’s private capital group in Seattle brokered the off-market transaction.

July 26, 2024

Arizona Development Hospitality Mixed-Use Restaurant Retail Western

Okland Capital, San Tan Development Break Ground on $100M Northside at SanTan Village Mixed-Use Project in Gilbert, Arizona

by Amy Works July 25, 2024

GILBERT, ARIZ. — Okland Capital and San Tan Development Group have broken ground on Phase I of Northside at SanTan Village, a mixed-use development in the Phoenix suburb of Gilbert. The first phase will feature 37,245 square feet of retail and restaurant space spread across six buildings. Completion of phase one is slated for mid-2025, with a grand opening expected in fall 2025. The hotel component is scheduled to deliver shortly after and future uses are currently being designed. At full build-out, Northside at SanTan Village will span 20 acres and feature a 134-key hotel, retail, restaurants and community green space. Development costs were estimated at $100 million. The project team includes Okland Construction as general contractor and Aline Architecture Concepts as architect for the retail center. Bryan Babits and Alberto Caballero of Western Retail Advisors are handing leasing for the project’s retail and restaurant spaces.

July 25, 2024

Acquisitions District of Columbia Hospitality Loans Southeast

Cronheim Hotel Capital Arranges $42.3M Acquisition Loan for Cambria Hotel in Downtown DC

by John Nelson July 24, 2024

WASHINGTON, D.C. — Cronheim Hotel Capital has arranged a $42.3 million acquisition loan for Cambria Hotel Washington, D.C. Convention Center, a 182-room hotel located at 899 O St. NW in downtown D.C. Built in 2014 by Concord Hospitality, the hotel is situated with a half-mile of the Walter E. Washington Convention Center and features a rooftop gathering area. The borrower, locally based Frontier Development & Hospitality Group, plans to overhaul the hotel and rebrand it to the Hyatt House flag. Other details of the renovation and loan underwriting were not disclosed.

July 24, 2024

Development Georgia Hospitality Loans Southeast

LCP Group Provides Construction Financing for 183-Room Moxy-Branded Hotel in Downtown Atlanta

by John Nelson July 19, 2024

ATLANTA — The LCP Group has provided an undisclosed amount of construction financing for the development of Moxy Centennial Olympic Park, a 183-room hotel in Atlanta’s downtown entertainment district. The developer is a partnership between Atlanta-based Nexera Capital and Emerge Hospitality Group. Upon completion, the property will feature 13 stories, with a rooftop restaurant and lounge, lobby bar and ground-level retail space. The hotel’s opening is scheduled for the second quarter of 2026. Nearby attractions include the Georgia Aquarium, World of Coca-Cola, State Farm Arena and the Mercedes-Benz Stadium, the home arena of the Atlanta Falcons and Atlanta United.

July 19, 2024

Development Hospitality Mixed-Use Multifamily Retail Texas Top Stories

Hillwood Plans 3,200-Acre Landmark by Hillwood Mixed-Use Development in Denton, Texas

by Jeff Shaw July 19, 2024

DENTON, TEXAS — Hillwood, a Perot company, has unveiled plans for Landmark by Hillwood, a 3,200-acre mixed-use project in the northern Dallas suburb of Denton. The project team includes Hillwood subsidiaries Hillwood Communities and Hillwood Properties. The plans call for 900 acres of commercial space comprising 5 million square feet of retail, hospitality and entertainment space, approximately 6,000 single-family homes and more than 3,000 multifamily units. The site, which is situated at I-35W and Robson Ranch Road, was previously known as Hunter Ranch. The parcel is one of the original land holdings purchased by the Perot family in 1987. The property encompasses Pilot Knob Hill, the highest point in Denton, according to Hillwood. Once completed, Landmark by Hillwood will offer 1,100 acres of park and open space, including Pilot Knob Hill, as well as an interconnected trail system, recreation areas and public parks. Hillwood also plans to construct a series of learning parks, which aim to promote nature education and engagement and will be open to the public. Hillwood plans to break ground on the first phase of the project this September. Phase I will comprise 747 single-family lots, with models slated to open Spring 2026. Planning and leasing is already underway for …

July 19, 2024

Development Hospitality Louisiana Mixed-Use Restaurant Retail Southeast

Cordish Tops Off $270M Live! Casino & Hotel Louisiana in Bossier City

by John Nelson July 18, 2024

BOSSIER CITY, LA. — The Cordish Cos. has topped off Live! Casino & Hotel Louisiana, a $270 million hospitality and gaming entertainment complex in Bossier City. The Baltimore-based retail entertainment owner and operator broke ground on the project in December 2023. Cordish Cos. and general contractor AnderCorp finished vertical construction at the property yesterday in a ceremony that included state and local officials. Scheduled to open in first-quarter 2025, the Live! Casino & Hotel Louisiana will feature more than 47,000 square feet of gaming space; a sportsbook for live betting on sporting events; an upscale 550-room hotel with a resort-style pool and fitness center; 25,000-square-foot events center; structured and surface parking; a 31-site RV park; and 30,000 square feet of dining and entertainment venues, including Cordish brands Sports & Social, PBR Cowboy Bar and Luk Fu. During the topping off ceremony, Cordish also announced two other additions to the restaurant lineup: Ridotto Grand Café and The Prime Rib steakhouse. Situated along the Red River, the project is expected to create 750 new construction jobs and 750 permanent jobs. The site was formerly home to the vacant Diamond Jacks Casino & Hotel, which Cordish Cos. acquired in 2023. Live Casino & …

July 18, 2024

Hospitality Loans Northeast Rhode Island

KSL Capital Partners Receives $72M Loan for Refinancing of Rhode Island Hotel

by Taylor Williams July 18, 2024

NEWPORT, R.I. — KSL Capital Partners has received a $72 million loan for the refinancing of Hotel Viking, a 208-room hospitality property located in the coastal Rhode Island city of Newport. The hotel offers an indoor pool, fitness center and more than 14,000 square feet of indoor and outdoor meeting and event space. A joint venture between Smith Hill Capital and Bain Capital provided the debt.

July 18, 2024

Acquisitions Arizona Hospitality Loans Western

JLL Hotels & Hospitality Negotiates Sale of Home2 Suites by Hilton North Scottsdale Hotel in Arizona

by Amy Works July 12, 2024

SCOTTSDALE, ARIZ. — JLL Hotels & Hospitality has arranged the sale and financing of Home2 Suites by Hilton North Scottsdale located at 20001 N. Scottsdale Road in Scottsdale. Terms of the transaction were not released. Built in December 2022, the hotel features 130 guest rooms, a fitness center, outdoor pool, complimentary high-speed Wi-Fi, business center, electric vehicle charging, pet-friendly accommodations and 500 square feet of flexible meeting space. The guest rooms offer separate living and sleeping areas, functional living space, in-room flat-screen TVs and high-speed internet access. Ketan Patel and Melvin Chu of JLL’s investment sales and advisory team represented the seller, while Adrienne Andrews spearheaded the JLL debt advisory team that procured acquisition financing for the buyer from a regional credit union.

July 12, 2024

Development Hospitality Illinois Midwest Mixed-Use Retail Top Stories

Bally’s Releases Updated Plan for $1.7B Casino Project in Chicago

by Hayden Spiess July 12, 2024

CHICAGO — Bally’s Corp. (NYSE: BALY) has released an updated permanent site plan for its $1.7 billion casino project in Chicago, a redevelopment of the former Chicago Tribune printing plant that will now be developed in a single phase. The property is located at 777 W. Chicago Ave. in the city’s River West neighborhood. Project plans now include a 34-story, 500-room hotel tower situated at the southern end of the 30-acre gaming and entertainment destination. The hotel — which was initially expected to be located elsewhere in the development — will feature a pool, spa, fitness center, sundeck and rooftop restaurant and bar. In addition to the hotel, the Bally’s Chicago Casino will include a 3,000-seat theater, six restaurants, a food hall and a two-acre public park. The casino will comprise 3,300 slot machines, 173 table games and VIP gaming areas. Additionally, a 2,000-foot extension of the riverwalk will connect the property to the riverbank. Design firm HKS prepared the new renderings. In May 2022, Bally’s was selected over competitors including Hard Rock International and Rush Street Gaming as the preferred developer of the project. Bally’s took possession of the land last week, and Brandenburg Industrial Service Co. is now preparing the …

July 12, 2024

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