KNOXVILLE, TENN. — Hunter Hotel Advisors has brokered the sale of TownePlace Suites Knoxville Cedar Bluff, a 97-room hotel located near the I-75 and I-40 connector in Knoxville. Tim Osborne of Hunter represented the institutional seller in the transaction. The buyer and sales price were not disclosed. Amenities at the hotel include a 24/7 fitness center and an outdoor swimming pool.
ATLANTA — Arriba Capital has provided a $17.9 million loan for the refinancing of voco The Darwin Hotel, a 111-room hospitality property located in Atlanta’s Old Fourth Ward neighborhood. The name of the locally based borrower was not disclosed. The Darwin Hotel opened in 2022, according to multiple local media outlets, and features a versatile bar space that transitions from serving coffee to cocktails, a rotating pop-up chef program, fire pits, seating areas and an additional bar space that opens into a central courtyard. Arriba Capital has financed two voco hotels by IHG, including The Darwin Hotel.
MEMPHIS, TENN. — Marcus & Millichap has brokered the sale of Hu. Hotel, a 110-room hotel in downtown Memphis. Built in 1905 and located at 79 Madison Ave., the former Tennessee Trust building has been listed on the National Register of Historic Places since 1982, after which it was converted into a luxury boutique hotel in 2002. The hotel is steps from the Mississippi River, Beale Street and FedExForum Arena, and features a rooftop bar, meeting spaces and a fitness center. Mitchell Presas, Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap’s Miller-Gomes Hotel Team represented the local private buyer, Nick Patel. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction.
MIAMI — Newmark has arranged two loans totaling $1.75 billion for the refinancing of a pair of hotel resorts in Miami. Jordan Roeschlaub, Jonathan Firestone, Nick Scribani and Tyler Dumon of Newmark arranged the loans on behalf of the borrower, national hospitality owner-operator Fontainebleau Development. In the first deal, the Newmark team arranged a $1.2 billion loan through Goldman Sachs for Fontainebleau Miami Beach. Originally developed on 22 acres in 1952, the beachfront property totals 1,594 guestrooms across four towers and features a newly built convention center. Amenities include 11 pools with luxury cabanas; nine food-and-beverage outlets; three nightlife and lounge venues; 200,000 square feet of meeting and event space; and a 40,000-square-foot spa with a 5,800-square-foot fitness center. In the second transaction, the quartet of financial intermediaries placed a $550 million loan through J.P. Morgan for the JW Marriott Miami Turnberry Resort & Spa. Built in 1967 and renovated and expanded in 2019, the 270-acre resort comprises 685 guestrooms; two golf courses with a private country club; 120,000 square feet of meeting and event space; six restaurants and lounges; a waterpark; and a 25,000-square-foot spa. “These financings underscore the enduring appeal of South Florida’s premier hospitality assets,’’ says Roeschlaub, …
PLANO, TEXAS — Eastern Union has arranged $20.4 million in financing for a seniors housing conversion project in Plano. Built in 1984 and renovated in 2005, the six-story, 137-room building at 700 Central Parkway E. was most recently operated as a Deluxe Inn hotel. The borrower plans to convert the property into a facility with 100 assisted living units and 40 memory care units that will be operated under the Parkdale Senior Living brand. Meir Abrahamson of Eastern Union arranged the financing, which consists of a $15.8 million construction-to-permanent loan and $4.7 million bridge loan. The direct lender was not disclosed. The conversion is slated for a mid-2026 completion.
MONTEREY PARK, CALIF. — Coldwell Banker Commercial George Realty, on behalf of the private investor seller, has arranged the $38 million sale of the Holiday Inn & Suites hotel at 400 S. Atlantic Blvd. in Monterey Park. Details of the sale were not released. Completed in 2024, the six-story property features 136 guest rooms and 2,000 square feet of meeting space. The hotel is part of the Atlantic Times Square project, which has brought new development to the area south of I-10, west of downtown Los Angeles.
SOUTHAVEN, MISS. AND BUFORD, GA. — JLL has negotiated the $25 million sale of a hotel portfolio in the Memphis suburb of Southaven, as well as the $11 million sale of a hotel in Buford. The properties included the Courtyard Memphis Southaven (85 rooms), the Residence Inn Southaven (78 rooms) and the Fairfield Inn & Suites Buford (94 rooms). C.J. Kelly and Bobby Norwood of JLL represented the buyer, Woodvale Opportunity Fund I, in the transaction. The seller was Chartwell Hospitality.
AUGUSTA, GA. — Miami-based Flacks Group has purchased Crowne Plaza North Augusta, a 180-unit hotel in Augusta. Built in 2019 near the Augusta GreenJackets’ Minor League Baseball ballpark, the hotel features meeting spaces, the Salt + Marrow steakhouse and a rooftop bar called Jackson’s Bluff. Hodges Ward Elliott represented Flacks Group in the transaction. The seller and sales price were not disclosed, but the Post and Courier North Augusta reports that Ackerman Greenstone sold the property. Blue Lotus Ventures was a consultant in the transaction, and J.P. Morgan provided an undisclosed amount of acquisition financing.
SYRACUSE, N.Y. — Virginia-based private equity firm Excel Group has acquired the 209-room Embassy Suites by Hilton Syracuse Destiny USA. The name stems from the property’s location adjacent to Destiny USA, a 2.4 million-square-foot shopping, dining and entertainment destination. The hotel opened in 2017 and offers amenities such as a indoor pool, fitness center, business center and meeting rooms. The seller and sales price were not disclosed. The new ownership has tapped Island Hospitality Management to manage the hotel.
PARK CITY, UTAH — Hyatt Hotels Corp. has opened Grand Hyatt Deer Valley, a 436-key resort at Extell Development Co.’s Deer Valley East Village in Park City. Grand Hyatt Deer Valley provides direct access to Deer Valley Resort, including more than 300 skiable acres, 20 debut runs and three chairlifts, and is expected to open for the 2024/2025 season in December, conditions permitting. Designed by Denver-based OZ Architecture, Grand Hyatt Deer Valley offers 381 guest rooms and 55 residences. All rooms are equipped with flat-screen HDTVs, Nespresso coffee makers, blackout curtains, individual climate control, hair dryers, bathrobes and minifridges. The resort also features a heated outdoor pool, three oversized hot tubs, a pool deck and a nighttime entertainment program. The property offers four restaurants, Remington Hall, Hidden Ace, Living Room and Double Blacks; nearly 30,000 square feet of indoor and outdoor event space, including a 10,000-square-foot ballroom; skier services; pet-friendly programming; Camp Hyatt Kids Club; and The Spa at Grand Hyatt Deer Valley.
