Hospitality

Marriott Colorado Springs Changes Hands

by Nellie Day February 22, 2017

COLORADO SPRINGS, COLO. — A partnership between West Point Partners, Lions Gate Capital LLC and the Harp Group has acquired the 309-room Marriott Colorado Springs for an undisclosed sum. The hotel is located at 5580 Tech Center Drive. Marriott Colorado Springs was built in 1989. It contains 23,000 square feet of event and meeting space. The Marriott is situated near the U.S. Air Force Academy, the United States Olympic Training Center, and numerous aerospace, defense, and healthcare firms. Jeffrey Duni and Mike Dube, of HREC Investment Advisors’ Denver office, represented the Procaccianti Group in this transaction.

February 22, 2017

Hospitality Loans North Carolina Southeast

Grandbridge Arranges $27M Refinancing for Hyatt Place in Downtown Charlotte

by John Nelson February 22, 2017

CHARLOTTE, N.C. — Grandbridge Real Estate Capital has arranged the $27 million refinancing for Hyatt Place, a 172-room hotel in downtown Charlotte. Chris Caison of Grandbridge’s Charlotte office arranged the fixed-rate loan through an unnamed CMBS investor on behalf of a repeat client. Located at 222 S. Caldwell St., the hotel features free Wi-Fi, a 24-hour fitness center, outdoor rooftop pool and a bar.

February 22, 2017

Hospitality Massachusetts Northeast

HFF Negotiates Sale of 351-Room Courtyard Boston Logan Airport

by Amy Works February 21, 2017

BOSTON — Affiliates of Rockwood Capital have completed the disposition of Courtyard Boston Logan Airport, located at 225 William F. McClellan Highway in Boston. The 12-story hotel features 351 guest rooms, 2,257 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and Brinkley’s Restaurant & Lounge. Daniel Peek, Denny Meikleham, KC Patel and Alan Suzuki of HFF represented the seller in the transaction. The name of the buyer and acquisition price were not released.

February 21, 2017

Alabama Hospitality Southeast

Hilton Opens New Homewood Suites by Hilton Hotel in Downtown Birmingham

by John Nelson February 20, 2017

BIRMINGHAM, ALA. — Hilton Worldwide has opened the new 105-room Homewood Suites by Hilton Birmingham Downtown near University of Alabama at Birmingham and Five Points South District. Wyatt Construction recently completed the hotel on behalf of the owner, AUM Enterprise Inc. Located at 1016 20th St. in downtown Birmingham, the hotel features studio and one-bedroom suites with kitchens and separate living and sleeping areas. Amenities include an indoor swimming pool, fitness center, game room, complimentary breakfast and a free shuttle within a seven-mile radius of the hotel.

February 20, 2017

Hospitality Loans New York Northeast

Capital One Closes $80M in Financing for Brooklyn Waterfront Hotel

by Amy Works February 17, 2017

NEW YORK CITY — Capital One has provided an $80 million construction/mini-perm loan for 1 Hotel Brooklyn Bridge, located on Brooklyn’s waterfront. The loan was initially part of a larger financing package that included a recently completed 107-unit condominium building. Capital One previously provided a $160 million loan to the borrower, a joint venture between Starwood Capital Group and Toll Brothers, to finance initial construction of the project. The 194-key hotel, which opened yesterday, is the third property in Starwood’s 1 Hotel brand. The property features 20,000 square feet of meeting/event space, a 24-hour fitness center, rooftop bar and pool and a 12,000-square-foot indoor/outdoor restaurant.

February 17, 2017

Hospitality Texas

Marcus & Millichap Negotiates Sale of 87-Room Hotel in North Richland Hills, Texas

by Amy Works February 17, 2017

NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of Best Western Northeast Mall Inn & Suites, a hotel located at 8709 Airport Freeway in North Richland Hills. A limited liability company acquired the 87-room hotel for an undisclosed price. Constructed in 1984 and recently renovated, the property features a fitness center, pool and spa, meeting space and fully equipped business center. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.

February 17, 2017

Hospitality Midwest Wisconsin

DoubleTree Reopens After $3.5M Renovation in Pleasant Prairie, Wisconsin

by Kristin Harlow February 17, 2017

PLEASANT PRAIRIE, WIS. — DoubleTree by Hilton Pleasant Prairie Kenosha has reopened after undergoing a $3.5 million renovation. The hotel is located at 11800 108th St. in Pleasant Prairie. The conversion and renovation of the 120-room hotel includes upgrades to the guest rooms, meeting spaces and public spaces, including the lobby, business center, fitness center and pool area. The hotel also includes an on-site restaurant and bar, The Chancery Bar & Grill. Business meetings and events accommodating up to 500 attendees can be held in the hotel’s 5,500 square feet of meeting and banquet facility space. The property is owned by Varin Realty LLC and managed by First Hospitality Group Inc.

February 17, 2017

Hospitality Texas

Shinn-Addison Hospitality Opens 132-Room Home2 Suites by Hilton in Metro Dallas

by Amy Works February 16, 2017

ADDISON, TEXAS — Shinn-Addison Hospitality has opened Home2 Suites by Hilton Dallas Addison, located at 4875 Belt Line Road in Addison. The hotel features 132 suites with fully equipped kitchens and modular furniture, complimentary internet, community spaces, laundry and fitness facilities, a grab-and-go market, outdoor pool, fire pit and barbecue area. Magnolia Lodging manages the property.

February 16, 2017

Hospitality Loans Texas

PMZ Realty Capital Arranges $11.9M Acquisition Loan for TownePlace Suites in Irving

by Amy Works February 16, 2017

IRVING, TEXAS — PMZ Realty Capital has arranged an $11.9 million acquisition loan for TownePlace Suites by Marriott Las Colinas in Irving. The property offers 135 suites in studio, one- and two-bedroom layouts with fully equipped kitchens and free grocery delivery. Additionally, the hotel features a complimentary breakfast buffet, fitness center, outdoor pool and a 340-square-foot meeting room. The name of the borrower was not released.

February 16, 2017

Hospitality Kansas Midwest

Midas Hospitality to Build, Manage Home2 Suites in Overland Park, Kansas

by Kristin Harlow February 16, 2017

OVERLAND PARK, KAN. — Midas Hospitality and sister company MC Hotel Construction are building a new Home2 Suites by Hilton in Overland Park. The 123-room hotel will be located at 7121 W. 135th St., which is the former site of a Smokehouse Bar-B-Que restaurant. The 65,000-square-foot hotel will offer suites with fully equipped kitchens, a fitness center, indoor pool and outdoor living area. Construction will begin in June and be completed by May 2018. Midas Hospitality will manage the hotel. The builder is MC Hotel Construction, and the architecture firm is Gray Design. All three companies are based in St. Louis.

February 16, 2017

Newer Posts

Older Posts