GALENA, ILL. — CBRE Hotels has arranged the sale of the 72-room Ramada Galena Hotel and Day Spa, including a 4,000-square-foot banquet hall, in Galena to Galena Prime Hotels LLC for an undisclosed price. Galena Pines LLC was the seller. Brian Silberman, Stanley Wang and Scott Miller in the Chicago office of CBRE Hotels represented Galena Pines in the sale of the property. Ramada Galena Hotel and Day Spa is located at 11383 U.S. 20, two miles from historic downtown Galena and 12 miles from Dubuque, Iowa. The property, which offers bed-and-breakfast charm in northwestern Illinois, is situated on nearly 10 acres, including a catch-and-release fishing pond and gardens. The city of Galena attracts over 1 million visitors annually with a historic downtown shopping district, winter outdoor activities, museums, historic homes and buildings, wineries and more. The new owners have over 20 years of hospitality experience.
SAN ANTONIO — Laurus Corp., a Los Angeles-based real estate investment and development firm, has completed a reposition project for the Hilton San Antonio Airport hotel. The full-service hotel, located two miles from the San Antonio International Airport, has undergone a $12 million update, including a new restaurant, the Asado Seafood & Grill, and lounge. The hotels 384 guest rooms were also remodeled. Laurus’ hospitality portfolio also includes The Hunt Valley Inn in Baltimore, The Hilton Garden Inn in Philadelphia, The Marriott San Antonio Hotel and the 16-story, 474-room Warner Center Marriott Hotel in Los Angeles.
NORTH CHARLESTON, S.C. — Hotel Development Partners and funds managed by Ares Management LP have purchased three select-service hotels in North Charleston totaling 248 rooms. The properties include the Residence Inn by Marriott Charleston North/Ashley Phosphate, the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate and an unnamed Choice Hotels-branded hotel. Including this transaction, HDP and Ares Management have purchased 10 hotels together, with the other seven hotels located in the metro Atlanta area. HDP is an Atlanta-based joint venture between Hotel Equities and IRE Capital. Hotel Equities has assumed management of the three hotels.
INDIANAPOLIS — HREC Investment Advisors has arranged the sale of the 82-suite TownePlace Suites Indianapolis Keystone and the 94-suite TownePlace Suites Indianapolis Park 100, both Marriott-branded properties. The purchase price of the hotels was not disclosed. The TownePlace Suites Indianapolis Keystone is located on the north side of Indianapolis in the city’s most prestigious area, Keystone at the Crossing. The hotel is situated minutes from downtown Indianapolis and the Indianapolis International Airport. The TownePlace Suites Indianapolis Park 100 hotel is situated on the northwest side of Indianapolis. Local demand generators include downtown Indianapolis, Indianapolis Motor Speedway, Traders Point shopping and Eagle Creek Park. Ted Anka, vice president in HREC Investment Advisors’ Chicago and Miami offices, worked with both the buyer, Arbor Lodging Partners, and seller, First Hospitality Group (FHG), to complete the transaction. Chicago-based Arbor Lodging Partners is a national debt and equity investor in the hospitality industry. FHG, based in Rosemont, Ill., specializes in hotel management, acquisitions and development throughout the Midwest.
WASHINGTON, D.C. — Hilton Worldwide and Hyatt Hotels Corp. plan to open a dual-branded, 413-room hotel at The Wharf, a mile-long waterfront mixed-use development in Washington, D.C. The brands include a 175-room Canopy by Hilton and a 238-room Hyatt House. The hotel site includes more than 30,000 square feet of street-level retail and restaurant space and two levels of below-grade parking. The asset will be located between Maine Avenue and Wharf Street, adjacent to 7th Street Park. Upon completion in the fall of 2017, the dual hotel will span 300,000 square feet and will include a cafe/bar and other dining options; 1,100-square-foot fitness center; 2,500 square feet of meeting room space; courtyard with outdoor terraces and water features; outdoor pool; and a rooftop bar with views of the Washington Channel. The penthouse will include an additional 10,000-square-foot lounge area with views of the Potomac River. Hoffman-Madison Waterfront is the master developer of The Wharf, and SmithGroup JJR is the architect of the dual-branded hotel property.
SAVANNAH, GA. — MIG Real Estate has purchased two Hilton-branded hotels in Savannah’s midtown neighborhood for an undisclosed price. The two hotels, Hilton Garden Inn Savannah Midtown and Hampton Inn & Suites Savannah Midtown, are located on Abercorn Street roughly 3.5 miles from Savannah’s Historic District. Opened in 2007, the Hilton Garden Inn has nearly 3,500 square feet of meeting space and a heated outdoor pool and whirlpool, fitness center, restaurant and bar. The Hampton Inn & Suites opened in 2009 and offers 2,000 square feet of meeting space, as well as a fitness center and an indoor pool and spa. MIG has tapped Raleigh, N.C.-based Concord Hospitality Enterprises to operate the two hotels. Hodges Ward Elliott represented the seller, Atlanta-based North Point Hospitality, in the transaction.
BRIDGETON, MO. — HREC has arranged the sale of a 163-room, full-service Embassy Suites St. Louis Airport Hotel in Bridgeton, located about 20 miles northwest of St. Louis. Terms of the transaction were not disclosed. The hotel is situated immediately off I-70 and is less than two miles from Lambert-St. Louis International Airport, a major hub for Southwest Airlines. Monty Levy, Jeff Preston and Scott Stephens of HREC represented the seller, Fairwood Capital LLC, in the transaction. The property was purchased by an institutional buyer and will be managed by Schulte Hospitality Group.
DUNCAN, S.C. — Marcus & Millichap has brokered the $11.3 million sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg. The five-story hotel is located at 108 Spartangreen Blvd. in Duncan, a suburb of Greenville. The hotel is located near I-85, Tyger River Park, the headquarters of Denny’s and the BMW manufacturing plant. David Greenberg and Robert Hunter of Marcus & Millichap’s Fort Lauderdale office represented both the buyer and seller in the transaction. Raj Ravi is Marcus & Millichap’s broker of record in South Carolina.
CHICAGO — Hyatt Centric The Loop Chicago, located downtown at 100 W. Monroe St., celebrated its grand opening on Thursday, July 30. The 22-story historic building was originally constructed in 1927. Hyatt Centric The Loop Chicago features 257 guestrooms, 2,500 square feet of meeting space, a 24-hour fitness center, rooftop bar and a French bistro restaurant. Located in the Loop district, the hotel puts guests near many external attractions such as Millennium Park, Navy Pier and The Art Institute of Chicago. Integrated Clark Monroe LLC owns Hyatt Centric The Loop Chicago, which is operated by Interstate Hotels & Resorts.
TENAFLY, N.J. — HREC Investment Advisors has arranged the sale of the Clinton Inn Hotel & Event Center located at 145 Dean Drive in Tenafly. The buyer, 145 Dean Drive LLC, acquired the 119-room property for an undisclosed sum. Ketan Patel and Geoff Davis of HREC represented the seller, Concord Hospitality Enterprises, in the transaction.