Hospitality

Sonnenblick–Eichner Arranges $135.8M Refinancing of 11 Hilton-Branded Hotels in Southeast, Midwest

by Camren Skelton October 6, 2017

BEVERLY HILLS, CALIF. — Sonnenblick-Eichner Co. has arranged a $135.8 million loan for the refinancing of 11 Hilton-branded hotels located in Florida, Tennessee and Michigan. The California-based company arranged the five-year, floating rate loan on behalf of Memphis, Tenn.-based Cooper Hotels. The portfolio includes the following Southeast properties: Hilton Naples in Naples, Fla.; Hilton Orlando/Altamonte Springs in Orlando, Fla.; Homewood Suites by Hilton Fort Myers Airport in Fort Myers, Fla.; DoubleTree by Hilton Memphis in Memphis; DoubleTree by Hilton Murfreesboro in Murfreesboro, Tenn.; DoubleTree by Hilton Oak Ridge in Knoxville, Tenn.; DoubleTree by Hilton Johnson City in Johnson City, Tenn.; and DoubleTree by Hilton Jackson in Jackson, Tenn. The Michigan hotels in the portfolio include Embassy Suites by Hilton Detroit Metro Airport, Hilton Garden Inn Detroit Metro Airport and Hampton Inn & Suites Detroit/Airport-Romulus, all of which are located in the Detroit suburb of Romulus.

October 6, 2017

Florida Hospitality Southeast

Woodbine, IMG Academy Break Ground on 150-Room Hotel South of Tampa

by Camren Skelton October 6, 2017

BRADENTON, FLA. — Woodbine Development Corp. and IMG Academy have broken ground on The Legacy Hotel at IMG Academy, a 150-room hotel located on IMG’s 500-acre campus in Bradenton. Dallas-based Woodbine is developing the five-story hotel for IMG, a multi-sport training and educational institution. The hotel will serve guests and clients of IMG, including visiting teams, coaches, student-athletes, staff and parents, as well as visitors to the surrounding community. Amenities will include an elevated lobby lounge and bar, three-meal restaurant, massage and fitness facility, 5,060 square feet of meeting space and a swimming pool. Tandem Construction is the project’s general contractor, and other members of the development team include architect 5G Studio, interior design firm Edge ID and landscape design firm SWA. Whitney Bank (d.b.a. Hancock Bank) is the lender. The Legacy Hotel is slated to open in fall 2018.

October 6, 2017

Florida Hospitality Southeast

Hunter Hotel Advisors Closes $20.5M Sale of Comfort Inn Hotel in Orlando

by Camren Skelton October 5, 2017

ORLANDO, FLA. — Hunter Hotel Advisors has arranged the $20.5 million sale of Comfort Inn Orlando Lake Buena Vista, a 200-room hotel situated a half-mile east of Walt Disney World in Orlando. Hunter Hotel Advisors represented the seller, Sun Vista Hotels, in the transaction. AD1 Global acquired the hotel, along with adjacent land that is entitled to build an additional 150 rooms. The hotel features an outdoor pool with a water slide, fitness center and complimentary shuttle service to Walt Disney World.

October 5, 2017

Hospitality Texas

Hilton Opens 162-Room Embassy Suites Hotel in College Station

by Taylor Williams October 4, 2017

COLLEGE STATION, TEXAS — Hilton Worldwide has opened Embassy Suites by Hilton College Station, a 162-room hotel located at 201 University Drive E in College Station, less than a mile from Texas A&M University’s campus. Managed by Aimbridge Hospitality, the hotel offers 4,500 square feet of meeting and banquet space, as well as a pool, fitness center and on-site bar and grill.

October 4, 2017

Hospitality Southeast Tennessee

North Point Hospitality Tops Off $140M Tri-Branded Marriott Hotel in Nashville

by Camren Skelton October 4, 2017

NASHVILLE, TENN. — Atlanta-based North Point Hospitality Group has topped off construction of a 21-story, tri-branded Marriott hotel in Nashville’s SoBro neighborhood. The $140 million hotel, located at 410 5th Ave. S., includes a 125-room SpringHill Suites, a 136-room Residence Inn and a 209-room AC Hotel. The development is the country’s first tri-branded Marriott hotel. Guests of the three hotels will have access to the shared amenities, which will include an indoor/outdoor pool, pool bar, fitness center, 11,000 square feet of ground floor retail and restaurant space, 9,000 square feet of flexible meeting space and a top floor bar and patio with panoramic views of the Nashville skyline. North Point Hospitality will manage the property, and other project team members include architect Lindsay Pope Brayfield & Associates, interior designer Design Continuum Inc., general contractor JE Dunn Construction and construction management services provided by Acumen Development Partners. SunTrust Commercial Real Estate provided construction financing for the project. The hotel is slated to open to the public in the third quarter of 2018.

October 4, 2017

Hospitality Midwest Minnesota

HRI Properties Completes $3.5M Renovation of Hotel in Minneapolis

by Kristin Harlow October 4, 2017

MINNEAPOLIS — HRI Properties LLC has completed a $3.5 million renovation of DoubleTree Suites by Hilton Hotel Minneapolis. The 229-suite hotel underwent renovations to the guestrooms, lobby, restaurant, business center and meeting space. All guestrooms received sectional sofas, new carpeting, 50-inch televisions and contemporary artwork and lighting. Other highlights include upgraded elevators, a complete remodel of the full-service Starbucks onsite and a revamp of the hotel’s restaurant, Lot 57. Studio 11 Design provided design guidance.

October 4, 2017

Hospitality Oklahoma Texas

Hilton Opens 99-Room Home2 Suites Hotel in Metro Oklahoma City

by Taylor Williams October 3, 2017

MIDWEST CITY, OKLA. — Hilton Worldwide has opened Home2 Suites by Hilton OKC Midwest City Tinker AFB, a 99-room hotel located in Midwest City, an eastern suburb of Oklahoma City. Amenities include a combined fitness and laundry area, 1,000 square feet of meeting space and an indoor pool. The property is located at 1820 Center Drive near Tinker Air Force Base, Rose State College and Will Rogers World Airport.

October 3, 2017

Hospitality Illinois Midwest

CBRE Arranges Sale of 117-Room Hotel in Tinley Park, Illinois

by Kristin Harlow October 3, 2017

TINLEY PARK, ILL. — CBRE Hotels has arranged the sale of the Hilton Garden Inn Chicago South in Tinley Park, a southern suburb of Chicago. The sales price was not disclosed. The 117-room hotel is located at 18335 S. LaGrange Road. The property is located near the Tinley Park Convention Center and Hollywood Casino Amphitheater. Nate Sahn and Douglas Johnson of CBRE represented the sellers, Tinley Inn LLC and Tinley Gardens LLC.

October 3, 2017

Hospitality Kentucky Southeast

Huff, Niehaus & Associates Arranges $4.4M Sale of Hampton Inn in Horse Cave, Kentucky

by Camren Skelton October 2, 2017

HORSE CAVE, KY. — Huff, Niehaus & Associates, a member of Hotel Brokers International, has arranged the $4.4 million sale of a Hampton Inn in Horse Cave. The Louisville-based company arranged the transaction on behalf of the seller, Dhami, Sohal & Sehgal Properties LLC. The 101-room hotel was sold in conjunction with a Ten-X auction to an undisclosed buyer. The new owner will rebrand the property and operate it as a newly flagged Holiday Inn Express, after undergoing a “Formula Blue” renovation. The Holiday Inn Express design prototype was launched in 2014 as a standard for Holiday Inn Express hotels. The prototype conversion focuses on implementing open, linear common spaces, brightly colored accent pieces and smart, efficient furniture and other essentials.

October 2, 2017

Hospitality Loans Northeast Pennsylvania

Walker & Dunlop Arranges $14.9M Construction Loan for EVEN Hotel in Downtown Pittsburgh

by Amy Works September 28, 2017

PITTSBURGH — Walker & Dunlop has closed a $14.9 million construction loan for EVEN Hotel, located within the historic Kaufmann’s department store building in downtown Pittsburgh. The borrower is Reception Hotels and Resorts, which acquired the fifth and sixth floors for the hotel. The hotel will be part of the Kaufmann’s Grand on Fifth, a master redevelopment the former department store that will feature retail, hospitality, multifamily and office space. The loan closed with Orix USA on behalf of Reception Hotels and Resorts. Jacob Cohen of Walker & Dunlop secured the non-recourse loan that features three years of interest-only payments.

September 28, 2017

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