FESTUS, MO. — Marcus & Millichap has brokered the $3.6 million sale of a Comfort Inn hotel in Festus, about 40 miles south of St. Louis. The 89-room property is located at 1303 Veterans Blvd. and recently underwent a renovation. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap represented the undisclosed buyer and seller.
ROCHESTER, N.Y. — Hospitality Real Estate Counselors (HREC), a Denver-based hospitality real estate firm, has arranged the sale of a 77-room Hampton Inn in Rochester, in upstate New York. The hotel is located off the Keeler Street Expressway in the northern Irondequiot suburb. Ketan Patel and Mark von Dwingelo of HREC represented the seller, an undisclosed real estate company, in the transaction. The buyer was a regional hotel owner and operator.
SAN FRANCISCO — PCCP has provided a $20 million, fixed-rate mezzanine loan for the refinancing of Hilton San Francisco Financial District. Justice Investors, an entity controlled by The InterGroup Corp., owns and operates the hotel. Located at 750 Kearny St. in downtown San Francisco, the 26-story hotel feature 544 guest rooms, with no hotel rooms below the fifth floor. Additionally, the property offers a restaurant and lobby bar, 21,936 square feet of meeting space, a fitness center, a business center and an executive lounge. The ownership has planned a full renovation of the corridors and guest rooms.
NEW YORK CITY — Madison Realty Capital, a New York-based lender, has provided an $83 million loan to recapitalize and rebrand a 230-room hotel in Manhattan. The loan proceeds allowed the borrower, Long Island-based McSam Hotel Group, to retire the existing debt on the property and transition the hotel to another brand. The hotel is located across from the Rockefeller Center.
PORT ANGELES, WASH. — Crystal Investment Property (CIP) has arranged the sale of All View Motel, an independent economy motel located in Port Angeles on Washington’s Olympic Peninsula. Terms of the transaction, including the names of the seller and buyer and acquisition price, were not disclosed. Built in the 1930s, the single-story motel features 20 guest rooms in a mix of standard rooms with mini-fridges and microwaves and family suites with complete kitchens. Additionally, the property features a 1,400-square-foot owner/manager quarters with private laundry room, fenced front yard and storage area. Visible from Highway 101, All View Motel is situated close to downtown and the ferry port, and is less than a mile from the main entrance to Olympic National Park.
CHICAGO — JLL has negotiated the sale of five Courtyard by Marriott hotels totaling 731 rooms. The portfolio includes Courtyard New Carrollton in Landover, Md.; Courtyard Fairfax Fair Oaks in Fairfax, Va.; Courtyard Baltimore Hunt Valley in Hunt Valley, Md.; and Courtyard San Antonio Airport and Courtyard San Antonio Medical Center in San Antonio. JLL represented the seller, Colony Capital Inc., in the transaction. The buyer was a partnership between Flynn Properties Inc. and EMA Lodging Group Inc. The sales price was not disclosed.
MONTCLAIR, N.J. — Aparium Hotel Group, a Chicago-based developer, has completed The MC Hotel, a 159-room hotel in Montclair, a western suburb of New York City. The MC is Aparium’s first property on the East Coast, and the first hotel to open in Montclair since 1939. Designed by New York-based DYAMI Architecture, the building also houses Allegory, a contemporary American restaurant.
EL SEGUNDO, CALIF. — R.D. Olson Construction has completed AC Hotel Los Angeles South Bay, a six-story hotel located in El Segundo’s business district. Located at 2130 Maple Ave., the 98,728-square-foot hotel features four tech-enabled meeting space, the city’s first rooftop bar with exterior benches and a fire table. The hotel offers 106 king-bed and 74 double-queen guestrooms featuring a European-style, contemporary design. The property also features an AC Lobby Lounge, which is a communal workspace by day and social gathering space by night; a first-floor bar and terrace with a fireplace and water feature; a 24-hour fitness center; and AC Kitchen, a European-style restaurant serving a variety of breakfast options. Project partners included Welcome Group Inc., AXIS/GFA Architecture + Design, Design Force Corp. and Robison Engineering.
SAN ANTONIO — JLL has arranged the sale of Courtyard San Antonio Airport and Courtyard San Antonio Medical Center. The properties were sold as part of a portfolio of five Marriott hotels, the other three of which are located in Baltimore and Washington, D.C. JLL marketed the properties on behalf of the seller, Colony Capital. A partnership between Flynn Properties Inc. and EMA Lodging Group Inc. purchased the assets.
NEW ORLEANS — Sonnenblick-Eichner Co. has arranged a $46 million refinancing loan for the Maison Dupuy, a five-story, 200-room hotel in New Orleans’ French Quarter neighborhood. Loan proceeds will be used to pay off existing debt, as well as to renovate the property. Plans for the renovation were not disclosed. Maison Dupuy is located at the corner of Toulouse and Burgundy streets, two blocks from Bourbon Street. The independent hotel offers a 4,088-square-foot courtyard, heated swimming pool, cabanas, fitness center, business center, meeting space, 65 parking spaces and the Bistreaux Restaurant & Bar. The lender was a global asset management company that has a real estate lending platform. The borrower was not disclosed.