Hospitality

Skender Completes 14-Story Hyatt House Hotel in Chicago’s Fulton Market

by Kristin Harlow June 17, 2019

CHICAGO — Skender has completed construction of Chicago’s newest Hyatt House extended-stay hotel. The 14-story, 167,000-square-foot property is located in the heart of Chicago’s Fulton Market neighborhood at 105 N. May St. Amenities include an indoor pool, bar and lounge and green roof features. The hotel also includes a third-floor lobby and first-floor retail space. The pool, workout center and lounge are situated on the 14th floor. The 200 guest rooms are on floors four through 13. Sterling Bay developed the hotel. Eckenhoff Saunders Architects served as the project architect.

June 17, 2019

Alaska Development Hospitality Western

Columbia Sussex Completes Renovations at Hilton Anchorage in Alaska

by Amy Works June 13, 2019

ANCHORAGE — Columbia Sussex has completed a multi-million-dollar renovation at Hilton Anchorage, located at 500 W. Third Ave. in downtown Anchorage. The project included upgrades to the lobby, dining establishments, guest rooms, fitness center and conference spaces. The renovated guestrooms include work stations with desk-level electrical outlets and high-speed internet access, The Bed by Hilton bedding systems, Hilton alarm clock radios with MP3 Player plug-ins, Cuisinart single-serve/dual-cup coffee makers, back-lit vanities, full-length mirrors, showers with rain showerhead fixtures and 49-inch televisions. The hotel also features 11 suites and more than 50 Club Level executive rooms. Hotel amenities include a fitness center, indoor pool, hot tub, Kaladi Brothers Coffee, Hooper Bay Café, Bruins Bar and 23,000 square feet of flexible meeting and event space. Crestview Hills, Ky.-based Columbia Sussex has owned and managed the hotel since 2006.

June 13, 2019

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of 71-Room Fairfield-Branded Hotel in Metro Dallas

by Taylor Williams June 13, 2019

LEWISVILLE, TEXAS — Marcus & Millichap has brokered the sale of a 71-room Fairfield Inn & Suites hotel in Lewisville, a northern suburb of Dallas. Chris Gomes, Joseph Jacques and Allan Miller of Marcus & Millichap represented the seller, a Dallas-based limited liability company, in the transaction. The trio also procured the buyer, a private investor. Marriott, which owns the Fairfield brand, has approved the buyer to self-manage the property.

June 13, 2019

Georgia Hospitality Loans Southeast

PMZ Realty Capital Provides $83.5M Loan for Refinancing of Embassy Suites in Downtown Atlanta

by Alex Tostado June 11, 2019

ATLANTA — PMZ Realty Capital LLC has provided an $83.5 million fixed-rate loan to Legacy Ventures for the refinancing of Embassy Suites Atlanta Centennial Park. The hotel offers 321 rooms and is situated next to Centennial Park, Mercedes-Benz Stadium, Georgia World Congress Center, Georgia Aquarium, the National Center for Civil and Human Rights Museum and the World of Coke. The hotel is located less than one mile from the future site of Centennial Yards, a $5 billion redevelopment that will bring more than 9 million square feet of new office space to downtown Atlanta over the next 10 years. The hotel recently underwent a $10 million renovation.

June 11, 2019

Sands-Casino-Resort-Bethlehem-Pennsylvania

Acquisitions Hospitality Northeast Pennsylvania Retail

Wind Creek Acquires Sands Casino Resort in Bethlehem, Pennsylvania, for $1.3B

by Taylor Williams June 10, 2019

BETHLEHEM, PA. — Wind Creek Hospitality (WHC), an authority of the Poarch band of Creek Indians, a federally recognized tribe in Alabama, has acquired the Sands Casino Resort in Bethlehem, Pennsylvania, for $1.3 billion. The property, located in the Lehigh Valley region, will be rebranded as Wind Creek Bethlehem. Sands Casino Resort consists of a 282-room hotel and a 183,000-square-foot casino with 3,000 slot machines, 200 gaming tables and multiple restaurants. The property also features a 150,000-square-foot retail mall and an event center. The new ownership plans to invest $340 million in updating and expanding the property to include two new hotels totaling 700 to 750 rooms and a 300,000-square-foot adventure and water park. The seller was not disclosed.

June 10, 2019

Delaware Hospitality Loans Northeast

Axilla Capital Arranges $12M CMBS Loan to Refinance Hotel in Delaware

by Taylor Williams June 10, 2019

REHOBOTH BEACH, DEL. — Axilla Capital, a Michigan-based finance and advisory firm, has arranged a $12 million CMBS loan. The funds will refinance a Fairfield Inn & Suites hotel in the coastal Delaware city of Rehoboth Beach. Joel Mazur and Tom Fleming of Axilla arranged the loan, which carries a fixed interest rate below 5 percent and a 10-year term, on behalf of an undisclosed borrower. The lender was also undisclosed

June 10, 2019

Acquisitions Hospitality Illinois Midwest

Syndicated Equities, Nath Cos. Acquire Two Hotels in Rosemont, Illinois

by Kristin Harlow June 10, 2019

ROSEMONT, ILL. — Syndicated Equities Group, in a joint venture with Nath Cos., has acquired the Hilton DoubleTree and Embassy Suites hotels in Rosemont for an undisclosed price. The separate hotels are located along River Road approximately one mile from Chicago O’Hare International Airport. The DoubleTree has 369 rooms while the Embassy Suites has 294 rooms. As part of the acquisition, new franchise agreements were secured with Hilton. Nath will serve as the manager.

June 10, 2019

Development Georgia Hospitality Southeast

Motto by Hilton to Anchor $80M Mixed-Use Project Within Opportunity Zone in Atlanta’s Old Fourth Ward

by Alex Tostado June 5, 2019

ATLANTA — Sixty West Funds and Lucror Resources have picked Motto by Hilton to anchor their $80 million mixed-use project in Atlanta’s Old Fourth Ward. The project, named Waldo’s Old 4th Ward, is situated on 1.5 acres at the intersection of Edgewood and Boulevard within an Opportunity Zone. Construction on the hotel is expected to begin in August. TVSDESIGN is serving as the architect, and Hirsch Bender & Associates is serving as the interior designer. Waldo’s Old 4th Ward will also offer more than 100,000 square feet of office space. The project is funded through the Sixty West O4W Opportunity Fund and will be one of the first developments to break ground within an Opportunity Zone in the city.

June 5, 2019

Development Hospitality Kansas Midwest

Brinkmann Constructors Breaks Ground on 100-Room, Dual-Branded Hotel in North Kansas City

by Kristin Harlow June 5, 2019

KANSAS CITY, KAN. — Brinkmann Constructors has broken ground on a new dual-branded hotel in north Kansas City. The hotel will feature the brands Aloft and Element, both of which are owned by Starwood. KMG Hotels is developing the 135,000-square-foot project, which will consist of approximately 100 rooms connected to a 15,000-square-foot convention center. The project is within the One North development. Completion is slated for September 2020. US Bank is providing financing. Hoefer Wysocki is the project architect.

June 5, 2019

Connecticut Development Hospitality Northeast

Shaner Opens 102-Room Marriott-Branded Hotel in Norwalk, Connecticut

by Taylor Williams June 4, 2019

NORWALK, CONN. — Shaner Hotels, a Pennsylvania-based hospitality owner-operator, has opened a 102-room Residence Inn by Marriott hotel in the coastal Connecticut city of Norwalk. The eight-story property features apartment-inspired suites that include full kitchens and individual workspaces. Amenities include grocery delivery service, a fitness center and a business center, as well as a bar and restaurant. Rich Co. developed the hotel in a joint venture with SoNo Development Partners. Shaner will operate the property.

June 4, 2019

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