MIAMI BEACH, FLA. — The Finvarb Group plans to develop the Kimpton Hotel Palomar South Beach, a 96-room boutique hotel that will be located in Miami Beach’s South Beach district. Slated to open in 2018, Kimpton Hotel Palomar South Beach will feature a rooftop pool, fitness center and a restaurant overlooking the adjacent Collins Canal. Miami-based Kobi Karp designed the five-story hotel, which will be the eighth Kimpton hotel in Florida.
ADAIRSVILLE, GA. — Choate Construction has been selected to build a new inn and conference center at Barnsley Resort, a 3,300-acre resort at the foothills of the Blue Ridge Mountains in Adairsville. Slated to open in the fall of 2017, the new additions will total 73,446 square feet. The three-story inn, known as The Inn at Barnsley Resort, will span 54 guestrooms and feature one boutique retailer. The conference center, known as the Georgian Hall Conference Center, will feature 10,500 square feet of indoor space, including the Savannah Ballroom, Augusta Room, Oglethorpe Room, Dalton Room and an estate lawn. The design team for the new additions includes architect Cooper Carry and interior designer Kent Interior Design.
NORTH LAS VEGAS, NEV. — Boyd Gaming Corp. (NYSE: BYD) has completed the acquisition of ALST Casino Holdco LLC, the holding company of Aliante Casino Hotel and Spa. Boyd bought the property for $380 million, according to the Las Vegas Sun. Aliante is Boyd Gaming’s first casino property in North Las Vegas, and its 10th property in the Las Vegas Valley. The company now owns and operates 22 casino properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. “As the premier gaming asset in North Las Vegas, Aliante provides a tremendous opportunity to participate in the long-term growth of the northern part of the Las Vegas Valley,” says Keith Smith, president and CEO of Boyd Gaming. Aliante opened in November 2008 at a cost of more than $660 million under the name Aliante Station, and was originally a joint venture between Station Casinos and the Greenspun family. A group of banks and private equity companies became the new owners in 2011 as a result of the property’s bankruptcy restructuring. Boyd’s plan to purchase the property was first announced in April 2016. Aliante Casino Hotel and Spa includes an 82,000-square-foot casino floor, 170-seat race and sports book, 202-room hotel, 16-screen …
AUSTIN, TEXAS — The Los Angeles office of Hunter Hotel Advisors has represented California-based Excel Hotel Group and the unnamed buyer in the sale of the Fairfield Inn & Suites Austin Northwest in Austin. Built in 2014, the four-story hotel was purchased by a New York opportunity fund.
WASHINGTON, CONN., AND KENNEBUNK, MAINE — Elandis, the Americas real estate arm of the Libra Group, has completed a $5 million refurbishment of two of its hospitality assets in New England: The Mayflower Grace in Washington and the White Barn Inn in Kennebunk. Renovations at White Barn Inn included guest room and common area upgrades as well as a new cottage and deck dining spaces. The Mayflower Inn’s refurbishments included upgrades to guestrooms, dining areas and landscaping.
NEW ORLEANS — New Castle Hotels and Resorts (NCHR) has opened a 103-suite Fairfield Inn & Suites in the French Quarter neighborhood of New Orleans. Rockbridge Capital provided financing for the project. The property is a $10 million renovation of the former Interstate Electric Co. building, built in 1910. John T. Campo Associates designed the project, which used historic tax credits and preserved the building’s façade.
PAUL, MINN. — Stahl Construction has completed construction of a Hyatt Place hotel located in St. Paul’s historic Custom House building. The rededication of the Custom House building and grand opening of the Hyatt Place was held Sept. 21. The Custom House served as a post office and federal customs port in the early 1900s. It also served as the main postal facility for St. Paul from 1934 through 2010. The riverfront building has been converted into a mixed-use property including a 149-room hotel, 202 apartments and space for a future restaurant. The $125 million renovation of the 748,000-square-foot building has been ongoing over the last 17 months.
CHARLOTTE, N.C. — Raleigh-based MJM Group plans to develop a new $45 million, dual-branded Marriott hotel project in Charlotte. Located at 9110 Harris Corners Parkway, the seven-story property will feature a 94-room Courtyard by Marriott and a 94-room Marriott Residence Inn. Construction is slated to begin this month and wrap up by March 2018. The 130,000-square-foot property will feature a shared lobby, bistro, two patio areas, outdoor swimming pool, exercise room and meeting rooms. The project team includes architect The Lawrence Group, interior designer Gray Design and general contractor Whiting-Turner Contracting Co. Paramount Lodging Advisors advised MJM Group in the development, and Live Oak Bank provided construction financing. Midas Hospitality will manage the hotel upon completion.
SAUSALITO, CALIF. — Sonnenblick-Eichner Company has arranged $75 million of first mortgage leasehold financing for Cavallo Point-The Lodge at the Golden Gate in Sausalito. The hotel is the San Francisco Bay Area’s first national park lodge. It contains 142 rooms within Golden Gate National Recreation Area at the northern foot of the Golden Gate Bridge. Cavallo Point is situated on about 45 acres within the 350-acre former Fort Baker military base. The property includes the Murray Circle Restaurant and Farley Bar, more than 25,000 square feet of indoor and outdoor meeting space, an 11,000-square-foot Healing Arts Center & Spa, a retail outlet, a cooking school and a fitness center. The non-recourse financing features a five-year balance sheet loan provided by an international money center bank.
MENTOR, OHIO — Marcus & Millichap has negotiated the sale of Holiday Inn Cleveland East-Mentor, a 132-room hotel, for $9.4 million. The hotel is located at 7701 Reynolds Road in Mentor. The full-service hotel opened as a Holiday Inn in 2013 and features 8,772 square feet of attached meeting space as well as an on-site restaurant and lounge. Alexandre Duong, an investment specialist in Marcus & Millichap’s Cleveland office, marketed the property on behalf of the seller, a private investor. Duong also secured and represented the buyer, a limited liability company.
