Monday, June 16, 2025
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Hospitality

AcquisitionsGeorgiaHospitalitySoutheast

Whitestone, Shaner Purchase 275-Room Le Meridien Atlanta Perimeter Hotel

by John Nelson

DUNWOODY, GA. — A partnership between Whitestone Cos. and Shaner Hotels has purchased Le Meridien Atlanta Perimeter, a 275-room hotel in Atlanta’s Central Perimeter submarket. An affiliate of Starwood sold the hotel for an undisclosed price, according to multiple media outlets. Tim Osborne and Spencer Davidson of Hunter Hotel Advisors represented both parties in the all-cash transaction. Located in Dunwoody, Le Meridien is situated near Perimeter Mall and several prominent employers including State Farm and IHG. The hotel features a fitness center, outdoor swimming pool with cabanas, nearly 10,000 square feet of meeting space and shuttle service to local attractions, as well as signature restaurant Portico Global Cuisine. The hotel acquisition represents the fifth property that Whitestone and Shaner Hotels have jointly purchased.

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DevelopmentHospitalityMidwestMissouri

Midas Hospitality Opens 96-Room TownePlace Suites Hotel in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Midas Hospitality has opened a TownePlace Suites by Marriott extended-stay hotel in Wentzville, a far west suburb of St. Louis. The 96-room property is located at 20 Cliff View Drive along I-70. The four-story hotel features a fitness center, guest laundry facilities, complimentary breakfast buffet, complimentary high-speed internet, a 10-person meeting room and outdoor patio area. CMC Construction was the general contractor, and Royal Banks of Missouri provided project financing.

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AcquisitionsCompany NewsHospitalityTexas

Newcor Commercial Arranges Sale of Hotel Development Site in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Locally based brokerage firm Newcor Commercial has arranged the sale of a one-acre hotel development site at 500 Rayford Road in the northern Houston suburb of Spring. David Alexander and Josh Cheatham of Newcor represented the buyer, an entity doing business as Shree Rang Krupa of Texas LLC, which plans to develop a 60-room Studio 6-Extended Stay hotel on the site. Construction is expected to begin in the coming weeks and to be complete in early 2026. Gus Lagos of Marcus & Millichap represented the seller, Woodlands Warehouse LLC.

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DevelopmentHospitalityMultifamilyTexas

Realty Capital to Develop 181-Room Condo-Hotel Project in Flower Mound, Texas

by Taylor Williams

FLOWER MOUND, TEXAS — Dallas-based Realty Capital will develop a 181-room hotel in Flower Mound, located in the northern-central part of the metroplex. The 12-story hotel will be located within the 160-acre Lakeside Village mixed-use development and will be operated under the Autograph by Marriott family of brands. The property will also include 21 for-sale residences across the top three floors. Amenities will include a pool, spa, ballrooms, fitness center, a lakefront wedding chapel, an outdoor music amphitheater and several lakefront restaurants.

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AcquisitionsHospitalitySelf-StorageTexas

Marcus & Millichap Arranges Sale of Storage, Hospitality Portfolio in Quinlan, Texas

by Taylor Williams

QUINLAN, TEXAS — Marcus & Millichap has arranged the sale of The Lake Tawakoni Portfolio, a collection of storage and hospitality properties in Quinlan, about 45 miles east of Dallas. The portfolio consists of 219 RV sites, 198 storage units, 39 cabins and 39 boat slips across three properties. Brad Dorsey, Skyler Henderson, Blake Eisenberg, Edgar Martinez and Katie Eaton of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

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DevelopmentHospitalitySoutheastVirginia

Hoffman & Associates Opens 146-Room Home2 Suites by Hilton Hotel in Falls Church, Virginia

by John Nelson

FALLS CHURCH, VA. — Hoffman & Associates has opened Home2 Suites by Hilton Falls Church, a hotel featuring 146 suites within the 10-acre West Falls neighborhood in Northern Virginia. The hotel’s amenities include a 24-hour fitness facility, business center, complimentary Wi-Fi and daily complimentary breakfast. According to the property website, average room rates range from $240 to $259. In addition to the hotel, West Falls features The Alder apartments, The Reserve at Falls Church seniors housing, The Oak Condominiums, The Wellness Center and more than 120,000 square feet of shops and restaurants, including early education and preschool program Tierra Encantada.

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FloridaHospitalityLoansSoutheast

Driftwood Capital Provides $34.8M Mezzanine Loan for Marriott-Branded Hotel Complex in Miami

by John Nelson

MIAMI — Driftwood Capital has provided a $34.8 million mezzanine loan for the refinancing of Miami Airport Marriott Connection, a complex comprising three Marriott-branded hotels near Miami International Airport. Driftwood Capital provided a two-year loan with three one-year extension options on behalf of the borrowers, an affiliate of Cerberus Capital Management and Highgate, via its lending fund Driftwood Lending Partners LP. Located at 1201 N.W. LeJeune Road, Miami Airport Marriott Connection features a 371-room Marriott hotel, 301-room Courtyard by Marriott and a 164-room Residence Inn by Marriott.

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Home2-Suites-Phoenix-AZ
AcquisitionsArizonaHospitalityWestern

Anish Hotels Group Sells Home2 Suites by Hilton Phoenix Downtown for $43.3M

by Amy Works

PHOENIX — Anish Hotels Group has completed the disposition of Home2 Suites by Hilton Phoenix Downtown to Chatham Lodging Trust for $43.3 million, or $293,000 per room. Chatham funded the purchase using proceeds from recent asset sales and available cash. Located at 125 E. Jackson St., the six-story hotel features 148 guest rooms and is connected to the historic Fuller Paint Company Building, which offers a customized reception area, guest lobby, 1,200 square feet of meeting space and a signature food and beverage outlet. Island Hospitality Management will manage the hotel. Carter Gradwell, Jennifer Bergamo and Rick Rush of CBRE represented the seller in the deal.

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AcquisitionsHospitalityTexas

Waramaug Hospitality, Franklin Buy 295-Room Hotel in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — A joint venture between Waramaug Hospitality and Franklin Real Asset Advisors has purchased the Austin Marriott North, a 295-room hotel located north of the state capital in Round Rock. The property’s accommodations include a number of suites, and the amenity package comprises a pool, fitness center, meeting and event space, convenience store, gift shop and an onsite restaurant. The seller and sales price were not disclosed.

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DevelopmentHospitalityNew JerseyNortheast

Alfred Sanzari Enterprises Begins Renovation of 351-Room Hotel in Teaneck, New Jersey

by Taylor Williams

TEANECK, N.J. — Alfred Sanzari Enterprises has begun the renovation of a 351-room Marriott-branded hotel in the Northern New Jersey community of Teaneck. The hotel, which opened in 2018, is located within the locally based development and investment firm’s 670,000-square-foot Glenpoint mixed-use development. The multimillion-dollar project will update the Glenpoint Marriott’s 39,317 square feet of meeting and event space with new carpeting, wall coverings, paint and furniture. Completion is slated for the fall. The design team includes HotelStudio and Kimmerle Newman Architects.

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