Wednesday, July 9, 2025
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Hospitality

DevelopmentHospitalityMidwestNebraska

Midas Hospitality Develops 102-Room Hotel Near Casino, Racetrack in Nebraska

by Kristin Harlow

COLUMBUS, NEB. — Midas Hospitality has developed a dual-branded hotel featuring Fairfield Inn & Suites and Townplace Suites near Harrah’s Racing and Casino in Columbus, a city in eastern Nebraska. The four-story property is under the Marriott umbrella. Locally based Foreman Lumber built the project, which caters to short-term and long-term stays with the 54-room Fairfield Inn & Suites and the Townplace Suites, which offers 48 extended-stay rooms. Amenities include a fitness center, pool, flex space, outdoor patio, meeting room and complimentary breakfast. The casino and horse racing venue came about following the passage of three Nebraska constitutional amendments in 2020, which legalized casino gambling adjacent to horse racing venues in the state.

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HospitalityLoansTexas

Driftwood Capital Provides Mezzanine Financing for 1,841-Room Sheraton Dallas Hotel

by Taylor Williams

DALLAS — Driftwood Capital, a Miami-based lender, has provided new mezzanine financing for the 1,841-room Sheraton Dallas Hotel. Built in 1959, the hotel is located at 400 Olive St. in the downtown area and features 230,000 square feet of meeting and event space and five onsite restaurants, in addition to standard hospitality amenities. The transaction includes the full replacement of a $270 million CMBS loan that was originated in 2024 with a new $300 million senior loan originated by Goldman Sachs and JPMorgan Chase Bank. In tandem, Driftwood upsized its original $30 million mezzanine loan to $35 million. The two-year, floating-rate loan includes three one-year extension options. The sponsor is San Francisco-based Chartres Lodging Group.

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AcquisitionsAlabamaHospitalityLoansSoutheast

Cronheim Hotel Capital Arranges $13.3M Acquisition Loan for Hampton Inn Hotel in Prattville, Alabama

by John Nelson

PRATTVILLE, ALA. — Cronheim Hotel Capital has arranged a $13.3 million acquisition loan for Hampton Inn & Suites, a hotel located at 2590 Cobbs Ford Road in Prattville, a northern suburb of Montgomery, Ala. The new owner plans to fully renovate the hotel. Cronheim arranged the financing on behalf of the undisclosed borrower through a regional bank. The five-year loan features 18 months of interest-only payments and no prepayment penalty for the full term. The Hampton Inn & Suites Prattville has 101 rooms and suites, as well as an outdoor pool, fitness center, meeting rooms and complimentary breakfast, according to the property website.

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Hampton-Inn-by-Hilton-Dallas-Irving-Las Colinas
AcquisitionsHospitalityTexas

Hunter Hotel Advisors Arranges Sale of 135-Room Hotel in Irving

by Taylor Williams

IRVING, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 135-room Hilton Dallas-Irving-Las Colinas hotel. The hotel offers amenities such as a pool, fitness center, meeting rooms and complimentary breakfast. A Louisiana-based developer purchased the property from a New York-based investment firm for an undisclosed price. Kami Burnette and Mason McDavid of Hunter Hotel Advisors brokered the deal.

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AcquisitionsHospitalityUtahWestern

CBRE Arranges Ground Lease Sale of 1.7-Acre Parcel in Downtown Salt Lake City

by Amy Works

SALT LAKE CITY — CBRE has arranged the leased fee interest sale of a 1.7-acre parcel in downtown Salt Lake City. Safehold Inc. acquired the asset, which includes a ground lease for over 98 years, for an undisclosed price. Asher Adams, a 225-key Autograph Collection hotel, occupies the site. The hotel was completed in 2024 and includes an adaptive reuse of the historic Union Pacific Depot Train Station. The parcel is located at 2 S. 400 West. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, Will Pike and Patrick Bodnar of CBRE represented the institutional seller in the transaction.

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AcquisitionsDevelopmentGeorgiaHospitalitySoutheast

DoveHill Invests in Redevelopment of Historic Boutique Hotel in Savannah

by John Nelson

SAVANNAH, GA. — Fort Lauderdale, Fla.-based DoveHIll has placed a preferred equity investment for the redevelopment of a boutique hotel in Savannah’s Historic District. The project will deliver The Sabal House, a 64-room luxury hotel, in place of the former President’s Quarter Inn. The hotel is located on Oglethorpe Square and directly across from the Owens-Thomas House. In addition to upgraded and brand new hotel rooms, The Sabal House will feature Oak Steakhouse, a restaurant concept by Indigo Road Hospitality Group. Terms of DoveHill’s investment were not released. The hotel’s management firm, TPG Hotels & Resorts, says the development team includes Procaccianti Cos., Kim King Associates and Ross Hotel Partners.

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DevelopmentHospitalityTexas

Oldham Goodwin Breaks Ground on 150-Room Hotel in New Braunfels, Texas

by Taylor Williams

NEW BRAUNFELS, TEXAS — Oldham Goodwin Group, a Texas-based development, management and brokerage firm, has broken ground on a 150-room hotel in the northeastern San Antonio suburb of New Braunfels. Designed by Niles Bolton Associates, the eight-story, 150,000-square-foot building will be operated under the Springhill Suites by Marriott brand. The site is located along the Guadalupe River, and the hotel will connect to the adjacent 125-room Courtyard by Marriott hotel. Amenities will include a pool, fitness center, business center, meeting rooms, boat docks and an onsite restaurant and bar. Completion is slated for late 2026.

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AcquisitionsHospitalityLouisianaSoutheast

Sunstone Hotel Investors Sells Hilton New Orleans St. Charles Avenue Hotel for $47M

by John Nelson

NEW ORLEANS — California-based Sunstone Hotel Investors Inc. has sold the Hilton New Orleans St. Charles Avenue, a 252-room hotel in downtown New Orleans, for $47 million. The buyer was not disclosed. Situated in the central business district and near the French Quarter, the hotel was originally built in 1926 as the Louisiana Masonic Temple, according to the Hilton website. The Hilton New Orleans St. Charles Avenue offers a 24-7 fitness center, onsite dining options, fitness center, concierge and a business center.

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AcquisitionsHospitalitySoutheastTennessee

Hunter Hotel Advisors Negotiates Sale of 126-Room Hyatt Place Hotel in Franklin, Tennessee

by John Nelson

FRANKLIN, TENN. — Atlanta-based Hunter Hotel Advisors has negotiated the sale of Hyatt Place Nashville Franklin Cool Springs, a 126-room hotel located adjacent to the CoolSprings Galleria mall in Franklin. The hotel is located in the heart of metro Nashville’s CoolSprings neighborhood. Amenities at the hotel include an onsite fitness center, pool and business center. The buyer, INNIN Hotel Partners LLC, plans to rebrand the hotel’s flag to Hyatt Select. Tim Osborne of Hunter brokered the transaction. An undisclosed institutional investor sold the hotel for an undisclosed price.

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ConnecticutDevelopmentHospitalityNortheast

Private Owners Complete Redevelopment of Historic Inn in Westbrook, Connecticut

by Taylor Williams

WESTBROOK, CONN. — Private owners Meri Wick and Marcus Little have completed the redevelopment of The Captain Stannard, a historic inn located in the southern coastal Connecticut city of Westbrook. The Captain Stannard is a 10-room establishment that was originally constructed in 1872. According to the Connecticut Post, the project involved reconfiguring the main dining area, upgrading the main common area and applying fresh paint and furnishings to select areas, as well as putting new bedding in all guestrooms.

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