Hospitality

DETROIT — GFI Capital Resources Group has sold the Hilton Garden Inn Detroit Downtown, a 198-room hotel. Inland Realty Group purchased the property for $51.4 million. GFI had purchased the 10-story hotel in October 2016 and subsequently implemented a $4 million improvement plan. The hotel site is located within a designated Opportunity Zone and includes a 30,000-square-foot parking surface. Management of the Hilton Garden Inn will be transferred from Crescent to SuperHost Enterprise, which operates 18 properties.

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FORT WORTH, TEXAS — Raymond Management Co. will develop a 119-room Marriott Residence Inn at Waterside, a 63-acre mixed-use development in Fort Worth by Trademark Property Co. The property will be situated on approximately three acres along Arborlawn Drive at the south end of the development. Construction is scheduled to begin in the fourth quarter and to be complete by 2021.

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GREEN BAY, WIS. — Marcus & Millichap has arranged the sale of the Country Inn & Suites in Green Bay for $4.7 million. Built in 1995, the 75-room hotel is located at 2945 Allied St. Jake Erickson and Jared Plamann of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer.

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SAN ANTONIO — Ashford Hospitality Trust Inc., a Dallas-based REIT, has sold the 251-room Marriott Plaza San Antonio for $34 million. The sales price represents a capitalization rate of 4.9 percent. Located near the city’s RiverWalk area, the hotel features a fitness center, pool and meeting and event space. The buyer was not disclosed.

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OVERLAND PARK, KAN. — A joint venture between Wexford Lodging Advisors and Trinity Private Equity Group has purchased the 398-room Marriott Kansas City Overland Park. The purchase price was not disclosed. The joint venture plans to invest approximately $17 million to upgrade the hotel’s guest rooms and public spaces. Davidson Hotels and Resorts will operate the hotel. In addition to a renovation of the meeting space and lobby, plans call for the addition of Marriott’s M Club concierge lounge and a new fitness center. Located at 10800 Metcalf Ave., the 11-story hotel is situated on I-435.

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Broward County Convention Center rendering

FORT LAUDERDALE, FLA. — General contractor Balfour Beatty has signed a $780 million agreement with developer Matthews Southwest, making Balfour Beatty the design-build lead for the over $1 billion expansion of the Broward County Convention Center in Fort Lauderdale. The project will add 525,000 square feet of meeting space to the complex, plus a 29-story, 800-room Omni Hotel. Located on Florida’s southeastern coast approximately 25 miles north of Miami, the completed convention center will total 1.2 million square feet. The expanded property will include 350,000 square feet of contiguous exhibition space, a 65,000-square-foot waterfront ballroom, modern technology, new dining concepts, enhanced water taxi access and a waterfront plaza with public access. The Omni Hotel will add 73,000 square feet of meeting and ballroom space; multiple restaurant options including a rooftop bar; an 11,000-square-foot, full-service spa and fitness center; and over 30,000 square feet of pool decks. The hotel will be positioned along the city’s famed Intracoastal Waterway with a scenic view of the Atlantic Ocean. Matthews Southwest has called on London-based firm Balfour Beatty for projects in the United States before. The company was hired by Matthews Southwest to build the Omni convention center hotel in Dallas and a residential …

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HOUSTON — NewcrestImage, a Dallas-based hospitality development firm, has completed the 195-room AC Hotel by Marriott Houston Downtown. The 10-story hotel represents an adaptive reuse of the historic, former Gulf Oil headquarters building that was originally constructed in 1914. The hotel houses a restaurant, bar and lounge, as well as a fitness center, business center, a media salon, Starbucks Coffee and a 3,600-square-foot event space. Mitchell Carlson Stone served as the project architect, and Arch-Con served as the general contractor.

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LA VISTA, NEB. — HREC Investment Advisors has arranged the sale of the 120-room Hampton Inn & Suites in La Vista near Omaha. The hotel is located just south of I-80 near the Werner Natatorium Sports Complex that is currently under development. Mike Cahill, Mike Dubè, Scott Kaniewski and Jeff Preston of HREC represented the seller, Wisconsin-based North Central Group. The buyer group was led by Mike Works, the managing member of Nightcap Hospitality LLC, which has developed 20 hotels in Nebraska.

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Renaissance-Dallas-at-Plano-Legacy-West

PLANO, TEXAS — 3650 REIT, a Miami-based balance-sheet lender, has provided a $90 million, 10-year loan for the refinancing of Renaissance Dallas at Plano Legacy West, a 304-room hotel in Plano. Completed in 2017 by borrower and developer Sam Moon Group, the property offers 26,000 square feet of conference and meeting space, as well as a pool deck and bar, spa and a fitness center. Specific loan terms were not disclosed.

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SAN ANTONIO — WoodSpring Suites, a franchised brand of Choice Hotels International Inc. (NYSE: CHH), has opened a 123-room hotel at 7335 Northwest Loop 410 in San Antonio. The property is located near the University of Texas at San Antonio, Sea World and Ingram Park Mall. The hotel will feature three different types of suites, all equipped with refrigerators, dishwashers and stoves. Amenities will include a fitness center and a guest laundry room.

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