Hospitality

Walker & Dunlop Arranges $253M Construction Loan for Pendry Nashville Hotel and Condominium Tower

by John Nelson March 20, 2025

NASHVILLE, TENN. — Walker & Dunlop (NYSE: WD) has arranged a $253 million construction loan for the development of the Pendry Nashville and Pendry Residences Nashville, a luxury 30-story hotel and condominium tower located in the city’s Gulch district. Pendry Hotels & Resorts, in partnership with investment and development firms SomeraRoad and Trestle Studios, plan to immediately break ground on the project. Upon completion, Pendry Nashville will include 180 guestrooms and suites, while 146 for-sale residences will be offered at Pendry Residences. The Pendry Nashville Hotel & Residences development is part of Phase III of the Paseo South Gulch master-planned micro-neighborhood, a 1 million-square-foot mixed-use district developed by SomeraRoad. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Bastian and Jackson Irwin of the Walker & Dunlop New York Capital Markets team arranged the loan. Bank OZK and InterVest Capital Partners provided the financing package on behalf of SomeraRoad and Trestle Studio. Jay Morrow and Carter Gradwell of the Walker & Dunlop Hospitality team represented SomeraRoad throughout the financing process, working in collaboration with the firm’s New York Capital Markets team. “Having worked with SomeraRoad to capitalize prior phases of their Paseo South Gulch master-planned development, we are …

March 20, 2025

Hospitality Loans Texas

PMZ Realty Capital Arranges $14.5M Loan for Refinancing of Metro Fort Worth Hotel

by Taylor Williams March 14, 2025

HALTOM CITY, TEXAS — PMZ Realty Capital has arranged a $14.5 million loan for the refinancing of the 125-roomHoliday Inn Express & Suites Haltom City-Fort Worth hotel. The hotel, which is located on the northern outskirts of Fort Worth, opened last fall and offers amenities such as an outdoor pool, fitness and business centers, 3,000 square feet of meeting and event space and complimentary breakfast. The borrower and direct lender were not disclosed.

March 14, 2025

Development Hospitality Texas

Partnership to Develop 300-Room Hotel, Convention Center in Cedar Park, Texas

by Taylor Williams March 12, 2025

CEDAR PARK, TEXAS — A partnership between Indiana-based Great Lakes Capital, Nebraska Furniture Mart and the City of Cedar Park, located north of Austin, will develop a 300-room hotel and 30,000-square-foot convention center. The Marriott-branded hotel will anchor the CedarView mixed-use development and will offer a pool, full-service restaurant and a breakfast café. Construction is slated to begin in May, with an anticipated opening date of early 2027.

March 12, 2025

Hospitality Loans North Carolina Southeast

Cronheim Hotel Capital Arranges $54M Refinancing for Homewood Suites Hotel in Uptown Charlotte

by John Nelson March 11, 2025

CHARLOTTE, N.C. — Cronheim Hotel Capital has arranged a $54 million loan for Homewood Suites by Hilton Charlotte Uptown First Ward, a 211-room hotel located at 508 N. College St. in Uptown Charlotte. Beau Williams and Drew Gilligan of Cronheim Hotel Capital arranged the financing on behalf of the borrower, Raleigh-based Concord Hospitality. The direct lender was not disclosed. According to the property website, the Homewood Suites hotel features a lobby, lounge, bar, restaurant, business center, fitness center and luggage storage. The 13-story hotel opened in 2023, according to local media outlets.

March 11, 2025

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of Vacant 243-Room Hotel in Southwest Houston

by Taylor Williams March 11, 2025

HOUSTON — Marcus & Millichap has brokered the sale of a vacant 243-room hotel located at 9090 Southwest Freeway in southwest Houston. The property, which has been closed since 2019, was previously operated under one of the IHG Hotels & Resorts brands and offers amenities such as an indoor pool, outdoor sundeck, fitness center, business center, gift shop and a guest laundry room. Chris Gomes and Tulsee Nathu of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed.

March 11, 2025

Hospitality Illinois Midwest

Stantonic Interior Design Firm Unveils Rebranding in Chicago

by Kristin Harlow March 11, 2025

CHICAGO — Stantonic, a Chicago-based interior design and procurement firm, has announced that it is officially dropping the company name, “STANTON Interior Concepts” from the brand, effective immediately. The company says the rebranding enables the organization to further diversify its portfolio without the constraints of a strong name association, while also enhancing brand clarity and consistency directed toward the hospitality sector. Stantonic was founded in 2001.

March 11, 2025

Development Hospitality New Jersey Northeast

Ironstate, Pegasus Complete Renovation of 138-Room Hotel in Harrison, New Jersey

by Taylor Williams March 10, 2025

HARRISON, N.J. — A partnership between two local firms, Ironstate Development Co. and Pegasus Group, has completed the renovation of the 138-room Element Harrison-Newark hotel in Northern New Jersey. The hotel, which operates under the Marriott family of brands, now features redesigned guestrooms with kitchenettes, rainfall showers and windows that maximize natural light. In addition, the renovation involved equipping meeting/event spaces with new furnishings and technological infrastructure and upgrading the fitness center. The project team also added a new food-and-beverage concept.

March 10, 2025

Acquisitions Hospitality Texas

Marcus & Millichap Arranges Sale of 96-Room Hotel in Lewisville, Texas

by Taylor Williams March 7, 2025

LEWISVILLE, TEXAS — Marcus & Millichap has arranged the sale of a 96-room hotel in the northern Dallas suburb of Lewisville. The Homewood Suites by Hilton Dallas-Lewisville was built in 1995 and renovated in 2008. Amenities include a pool, fitness center and two meeting/event spaces. Chris Gomes and Skyler Cooper of Marcus & Millichap represented the seller, Brandy Lodging LLC, in the transaction. The duo, in conjunction with Allan Miller of Marcus & Millichap, also procured the buyer, Centerpoint Hospitality.

March 7, 2025

California Development Hospitality Loans Multifamily Retail Western

IPA Arranges $60.9M in Redevelopment Financing for Mixed-Use Project in Huntington Beach, California

by Amy Works March 7, 2025

HUNTINGTON BEACH, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $60.9 million in financing for a 28.9-acre oceanfront redevelopment project in Huntington Beach. Gary Mozer of IPA Capital Markets secured the 18-month, nonrecourse loan on behalf of a California-based investment and development firm. The borrower plans to develop a residential and hospitality property, which was approved by the Huntington Beach City Council, on the parcel. The residential plan includes more than 200 for-sale, single-family detached and attached homes and a 50-unit affordable housing community with 25 units to be rented to hotel workers employed onsite and nearby. The hospitality component will include a 215-room boutique hotel with 19,000 square feet of retail space. Additionally, the project plan includes 2.8 acres of coastal conservation and 4.4 acres of public parks. The project is currently in predevelopment with construction slated to commence near the end of the year.

March 7, 2025

Development Hospitality Northeast Pennsylvania

Hawkeye Hotels to Renovate 135-Room Hotel Indigo Pittsburgh East Liberty

by Taylor Williams March 6, 2025

PITTSBURGH — Hawkeye Hotels, an Iowa-based hospitality investment and management firm, will renovate the 135-roomHotel Indigo Pittsburgh East Liberty, which is part of the IHG Hotels & Resorts family of brands. The hotel opened in 2015 via adaptive reuse of multiple 1940s-era buildings, including the former Governor Hotel, and Hawkeye purchased the property in 2022. The renovation will encompass guestrooms and common spaces, and the design, led by Dallas-based Pickard Design Studio, will pay homage to the area’s automotive history, as well as honor the area’s first Native American inhabitants. A construction timeline has not yet been finalized.

March 6, 2025

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