PEARLAND, TEXAS — Marcus & Millichap has brokered the sale of a 76-room hotel in the southern Houston suburb of Pearland. Candlewood Suites, which is part of the IHG family of brands, operates the hotel, which offers amenities such as a fitness center, business center and 24-hour market. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
MOSES LAKE, WASH. — Gantry has secured a $14 million permanent loan to refinance the Best Western Plus Lake Front Hotel, located at 3000 W. Marina Drive in Moses Lake. The hotel, including onsite restaurant, underwent an improvement program in 2023. The hotel features a heated outdoor pool, hot tub, steam room, cocktail lounge, meeting and banquet facilities, a business and convention center and a fitness center. Drit Shoemaker of Gantry represented the borrower, a private real estate investor. A regional bank provided the seven-year, fixed-rate loan, which features a 25-year amortization schedule.
MARYSVILLE, OHIO — PMZ Realty Capital LLC has arranged a $5.3 million loan for the acquisition of a Hampton Inn hotel in Marysville, a suburb of Columbus. A debt fund provided the loan, which features interest-only payments for the full five-year term. The loan proceeds provided capital for the new ownership to acquire the property and implement a change-of-ownership property improvement plan. The buyer, a Canadian hotel investor, completed the acquisition as its first hotel investment in the U.S. The 83-room hotel features complimentary breakfast, a fitness center, indoor pool and two meeting rooms.
AVALON, CALIF. — Red Oak Capital Holdings has provided a $6 million bridge loan for the Hermosa Hotel & Apartments in Avalon, a city on Santa Catalina Island. The loan proceeds will retire existing debt at the century-old property, located at 131-171 Metropole Ave. Hermosa Hotel & Apartments contains 46 buildings offering a total of 44 hotel rooms, a commercial unit occupied by a spa and 26 multifamily units. Since acquiring the property in 2019, the sponsor has invested approximately $3 million into renovations, reorienting the hotel as a boutique alternative to large-scale resorts while maintaining the multifamily component as stable, year-round housing for service workers. The interest-only loan was structured under Red Oak’s Core-Plus Bridge Loan Program and carries a two-year initial term and a loan-to-servicing value of 55.2 percent. David Christensen of Red Oak originated the loan, with underwriting led by Thomas Gorski and loan administration by James Myatt. Deryl Deese of Tauro Capital Advisors arranged the financing on behalf of the borrower, a subsidiary of value-add investment firm McKinney Capital.
FREDERICKSBURG, TEXAS — IHG Hotels & Resorts will open a 210-room hotel in the Central Texas city of Fredericksburg under its Kimpton brand. Designed by Merriman Anderson Architects with interiors by Curioso and developed by Houston-based DC Partners, Kimpton Fredericksburg will be located within The Meuse, a 22-acre mixed-use development. The property will feature a full-service restaurant and bar, along with a poolside bar and lounge. Additional amenities will include a 10,000-square-foot outdoor pool and deck, fitness center, café and 18,500 square feet of indoor/outdoor meeting and event space. The opening is scheduled for 2027.
BRIDGEWATER, N.J. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the 133-room Hampton Inn & Suites Bridgewater, located in Central New Jersey’s Raritan Valley. The hotel was built in 2017 and offers amenities such as a fitness center, indoor pool and a lobby bar. An entity doing business as FSG Bridgewater Hotel LLC sold the property to New Jersey-based owner-operator Innzen Hospitality for an undisclosed price. Spencer Davidson of Hunter Hotel Advisors brokered the deal.
FORT WORTH, TEXAS — Local developer Bedford Lodging has opened the 153-room Nobleman Fort Worth hotel, which is part of the Tapestry Collection by Hilton family of brands. Located in the city’s Near Southside neighborhood, both the hotel and its onsite restaurant, Duchess, are anchored by the façade of the historic fire station building that was originally constructed on the site in 1911. Accommodations include 121 rooms and 32 suites, and the amenity package comprises a pool, fitness center and meeting/event space.
RIVERHEAD, N.Y. — Chicago-based investment firm Bradford Allen has completed the renovation of the 114-room Hilton Garden Inn Riverhead hotel on Long Island. Renovations included refreshed guestrooms with new beds, bedding, carpet, bathrooms and furniture, as well as the addition of Peloton bikes to select rooms. The lobby, lounge area and front desk all received new flooring, furniture, accents and lighting, while meeting and event spaces were revamped with new carpet, paint, lighting and audio/visual equipment. The project team also added new public restrooms and improved the lobby bar, restaurant and patio. Bradford Allen acquired the hotel in late 2023 and began renovations thereafter.
CHULA VISTA, CALIF. — M.A. Mortenson and McCarthy Building Cos. have completed the Gaylord Pacific Resort and Convention Center, a $1.3 billion hospitality project located on the Chula Vista Bayfront, about seven miles from downtown San Diego. The nearly 2 million-square-foot development, construction of which began in August 2022, is the largest hotel project in the United States, according to the development team. Spanning 36 acres, the development consists of a 22-story Marriott hotel with 1,600 guestrooms (including 89 suites) and an 800,000-square-foot convention center that has an open-floor exhibit hall with meeting rooms, elevated ballrooms and areas to host large-scale events. The property also features a 4.3-acre outdoor waterpark with a waterslide, lazy river, wave pool, poolside bars and private cabanas. Guests have access to additional amenities such as a sports bar, fitness center, full-service spa and salon, nine-story parking garage and several restaurants, including Old Hickory Steakhouse, Trēō Kitchen + Bar, Shallow End Grill and Sunny’s. The development team, which includes HKS Architecture, the City of Chula Vista, the Port of San Diego and Marriott International, completed the project in 34 months, creating approximately 3,000 annual jobs during the construction phase. The team also estimates that the project will …
WISCONSIN DELLS, WIS. — HALL Structured Finance (HSF) has provided a first lien construction loan totaling $41.1 million for the Dellshire Resort in Wisconsin Dells, a city in southern Wisconsin. HSF partnered with Nuveen Green Capital, which provided an additional $27.8 million in C-PACE financing. Adrienne Andrews and Jeffrey Bucaro of JLL arranged the financing on behalf of the borrower, Uphoff Ventures LLC. Dellshire Resort will be a 208-room Medieval-themed hotel and represents the initial phase of a 40-acre master-planned resort and attraction development. The four-story hotel will feature a 222-seat restaurant, six pools, a swim-up pool bar, 9,500-square-foot arcade and family entertainment center, ATV rentals and approximately 6,500 square feet of meeting and event space. A 60-foot-tall fire-breathing dragon sculpture will mark the hotel’s entrance, complemented by costumed knights and dragon-themed interactions throughout the property. Located approximately 55 miles northwest of Madison, Wisconsin Dells is known as the “Waterpark Capital of the World,” boasting the highest concentration of indoor and outdoor waterparks globally, according to HSF. The local economy is heavily tourism-driven, drawing more than 4 million visitors annually. Completion of the Dellshire Resort is slated for the second quarter of 2026. Pyramid Global Hospitality will manage the asset. …