NEW YORK CITY — McSam Hotel Group plans to break ground this August on TownePlace Suites by Marriott at 324 W. 44th St. in New York City’s Times Square. Designed by Gene Kaufman Architect, the 44,500-square-foot hotel will feature 114 rooms in two seven-story wings connected by a landscaped courtyard. Hotel amenities will include a fitness center and meeting space. VLDG Inc. is designing the interiors of the hotel.
NEW YORK CITY — Eastern Consolidated has arranged a $42 million bridge loan for the acquisition of a development site located at 131-01 39th Ave. in the Flushing neighborhood of Queens. The borrower, Triple Star Realty, acquired the former Assi Plaza supermarket location for more than $90 million. Triple Star Realty plans to raze the existing structures and develop a 631,752-square-foot mixed-use complex. The waterfront property will feature a 360-unit residential space, a 200-room hotel, retail space, a supermarket, general and medical office space and parking. Jonathan Aghravi, Charles Han, Ben Tapper and Tripp Lyons of Eastern Consolidated arranged the financing for the borrower.
CHARLOTTE, N.C. — Hilton Worldwide has opened Embassy Suites Charlotte/Ayrsley, a 170-room hotel located at 1917 Ayrsley Town Blvd. in southwest Charlotte. The six-story hotel is located within walking distance of shopping, dining and a movie theater, and is also 11 miles from Charlotte Douglas International Airport. The hotel features 13,000 square feet of meeting space, a Brickstones Grill dining venue, heated indoor pool, 24-hour fitness center, complimentary Wi-Fi and a 24-hour business center. Griffin Stafford Hospitality manages the new hotel.
NORMAL, ILL. — First Hospitality Group Inc. has completed the renovation of Hampton Inn & Suites of Bloomington-Normal in Normal. Located at 320 S. Towanda Ave., the hotel is within the Shoppes at College Hills, minutes north of downtown Bloomington, Illinois State University, Illinois Wesleyan University and Mitsubishi Motors North American Headquarters. During the six-month renovation project that began late last year, interior features were updated throughout the property, including new carpet and wall vinyl. All of the 128 guestrooms were appointed with new sofas, desk chairs, mattresses, box springs and bedding. Starwood Capital Group owns the hotel, which is managed by First Hospitality Group.
ORANGE BEACH, ALA. — Winter Construction will build the new SpringHill Suites hotel at The Wharf in Orange Beach. The Wharf is an entertainment, retail and marina complex adjacent to the Gulf Intracoastal Waterway in Orange Beach, near the Florida-Alabama border. The five-story building will include 132 guest suites, meeting space, restaurant space and an exterior amenity area with a swimming pool. The architect of record for the new SpringHill Suites project is Rule Joy Trammel + Rubio. Winter Construction has built and renovated other Marriott-brand hotels across the Southeast. Winter is currently building the new AC Hotel by Marriott at Phipps Plaza in Atlanta.
CHICAGO — Hostmark Hospitality Group has been selected to operate a Hilton dual-branded hotel in Chicago’s West Loop neighborhood at 118 N. Jefferson St. The 210-room Hampton Inn and 126-room Homewood Suites, which are currently under construction, will open in the fall of 2016. Each hotel will have its own lobby. The Hampton Inn/Homewood Suites will be within close distance of the Illinois Medical District and offers easy access to I-90/94.
AUSTIN, TEXAS — HREC Investment Advisors has arranged the sale of the 260-guestroom Embassy Suites Austin Central. SBCO-BREI Austin Operating Co. LLC is the buyer. Bill Murney of HREC Investment Advisors’ Phoenix office, along with Scott Stephens of the firm’s Tampa office, represented FelCor Lodging Trust during the transaction. The property is located at the intersection of I-35 and U.S. 290, approximately 4.5 miles from downtown Austin.
PLANO, TEXAS — Marcus & Millichap has arranged the sale of Comfort Suites Plano/Dallas, a 76-room hospitality property located in Plano. Pravin Boteju, Andrew Frosch, Rahul Bijlani and Michael Yu of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. Yu, Bijlani and Frosch also sourced the buyer, a private investor. Comfort Suites Plano/Dallas is located at 2301 E. President George Bush Highway.
NORWOOD, MASS. — Summit Hotel Properties Inc. has acquired the Hampton Inn Boston-Norwood, a 139-room hotel located at 434 Providence Hwy. in Norwood for $24 million. The company plans to spend $2.3 million on capital improvements, which will include a conversion to a Hampton Inn & Suites by Hilton, at the property during the second half of 2016. Additionally, the company has entered into a management agreement with Interstate Hotels & Resorts to manage the property. The name of the seller was not released.
PHOENIX – The 44th and McDowell Hotel Group LLC has purchased the 228-unit Holiday Inn Hotels & Suites Phoenix Airport North for an undisclosed sum. The hotel is located at 1515 N. 44th Street. The property underwent an $11 million conversion to Holiday Inn & Suites in 2011. It is situated just two miles from Phoenix Sky Harbor Airport. The seller, Jordan Hotels LLC, was represented by Bill Murney of HREC Investment Advisors’ Phoenix office.
