RALEIGH, N.C. — Concord Hospitality Enterprises and Kane Realty Corp. plan to develop and operate North Carolina’s first AC Hotel, a Marriott brand. The new 133-room hotel, known as AC Hotel Raleigh, will be located in Raleigh’s North Hills neighborhood. This is Concord and Kane Realty’s third hotel venture in the North Hills district. The hotel is slated to open in 2016.
MIAMI BEACH, FLA. — CBRE’s hotel and capital markets multifamily divisions have brokered the $21.6 million sale of Canyon Ranch Hotel and Spa at 6801 Collins Ave. in Miami Beach. Z Capital Partners LLC purchased the asset via a bankruptcy auction. The United States Bankruptcy Court Southern District of New York approved Z Capital Partners as the buyer. The private equity firm plans to reposition the asset into a five-star hotel called the Carillon Hotel and Spa, which will consist of 150 rooms. The hotel features 750 feet of beachfront and is located adjacent to L’Atelier, a 20-story condominium tower currently under construction. The new hotel will be managed by a new joint venture consisting of Z Capital; Adrian Zecha, founder of Amanresorts and GHM Hotels Ltd.; and Jonathan Breene, developer and creator of The Setai, South Beach.
NEW YORK CITY — Synapse Development Group and YOTEL are developing the first YOTEL-branded project in Brooklyn. Situated near the Brooklyn-Queens Expressway, the 100,000-square-foot mixed-use project will feature street-level retail space, a 110-key YOTEL Williamsburg hotel, residential condominiums and a rooftop garden. Designed by HWKN, the hotel is scheduled to open in 2017.
TUCSON, ARIZ. — HSL Properties has acquired the 432-room Hilton El Conquistador Golf & Tennis Resort and the El Conquistador Country Club for a reported $15 million. The asset is situated on two separate parcels that total 383 acres. The resort was originally constructed in 1982 as a Sheraton hotel. The hotel was Tucson’s first major resort to include more than 250 rooms. It was repositioned as a Hilton hotel in 2003. The hotel features more than 100,000 square feet of indoor and outdoor event space, along with Tucson’s largest golf and tennis facility. The property contains 45 holes of golf and 31 hard-surface tennis courts. The transaction included 18 acres of developable land on Oracle Road. HSL plans to invest about $16 million to rehabilitate the hotel. This work should take about 12 to 18 months to complete. The majority of the rehabilitation will occur over the slower summer months, HSL says. The firm has also begun the process of splitting the resort’s country club and 45-hole golf course. The town of Oro Valley plans to purchase these assets in a sale that is expected to close March 1. The town will then turn the 31,475-square-foot club building into …
LAKE PLACID, N.Y. — Bethesda, Md.-based Urgo Hotels & Resorts has acquired Whiteface Lodge Resort in Lake Placid for an undisclosed price. Located at Seven Whiteface Inn Lane in the Adirondacks, the resort offers 94 one- to four-bedroom suites, a private residence club, a 5,800-square-foot spa with six treatment rooms and a fully equipped fitness center. Additionally, the four-season resort features an indoor/outdoor swimming pool, ice skating rink, 54-seat movie theater, two bowling lanes, tennis courts, snowshoe/cross country trails and a private beach on Lake Placid with a canoe club providing boat rentals. The property also features a fine dining restaurant and 14 undeveloped acres, including lakefront property.
ATLANTA — Noble Investment Group, in a joint venture with Simon Property Group, has broken ground on the AC Hotel Buckhead. The 166-room hotel will be located at the intersection of Peachtree and Wieuca roads in Atlanta’s Buckhead neighborhood across from the Nordstrom at Phipps Plaza. This will be AC Hotels by Marriott’s first hotel in the Atlanta area. Upon completion in early 2016, the hotel will feature an AC Lounge, 2,500 square feet of meeting space, the AC Library, a fitness center and an indoor pool.
DALLAS — Starwood Hotels & Resorts Worldwide and New Orleans-based KFK Group will open a new Starwood managed Westin hotel in downtown Dallas. The Westin Dallas Downtown will open by December 2015 as part of an adaptive re-use project that will transform the complex into a lifestyle development. Construction has already begun, following KFK’s acquisition of the 1-million-square-foot building in March of last year. The Westin Dallas Downtown will feature 323 guest rooms and extensive meeting facilities. The hotel will anchor the redevelopment of the office building known as “One Main Place.” The vertical mixed-use property will feature a dedicated hotel entrance parallel to Elm Street and a second floor hotel lobby in the former banking hall. Hotel facilities will include a three meal restaurant, a bar and more than 27,000 square feet of meeting space including a ballroom overlooking the eastern courtyard.
LOS ANGELES — A joint venture between AWH Partners and Starr Companies has acquired the 488-room Los Angeles Marriott Burbank Airport for reported purchase price north of $100 million. The full-service hotel is located at 2500 North Hollywood Way, adjacent to Bob Hope Airport and Amtrak-Burbank Airport train terminal, in the Los Angeles submarket of Burbank. The Marriott-branded hotel recently underwent a $10-million renovation. It includes two towers, along with an adjacent conference center that features nearly 46,000 square feet of indoor/outdoor function space. Amenities include a fully equipped fitness center, business center, two heated outdoor pools, spa, a concierge lounge, and a restaurant with dine-in and in-room dining options. The seller, Westbrook Partners, was represented by HFF’s Scott Hall.
ST. LOUIS — HREC Investment Advisors has arranged the sale of the 440-guestroom, full-service Crowne Plaza St. Louis Hotel in St. Louis. 200 STL Holdings LLC purchased the property for an undisclosed sales price. The 29-story hotel is located directly across from Jefferson National Expansion Memorial Park and includes views of the Gateway Arch, Mississippi River and St. Louis skyline. The buyer plans to convert the property into a mixed-use project, with a 140-key boutique hotel and 300 residential units. Geoff Davis and Ted Anka of HREC Investment Advisors, along with Scott Kaniewski of SVP – Chicago, represented Hallmark Hotels LLC in the transaction.
BELLEVUE, WASH. — Value Place and West77 Partners LLC have teamed up to develop 25 new hotels in the State of Washington. The first three hotels are expected to break ground this spring. They will be located within the Seattle region. Value Place has about 200 extended-stay hotels in 32 states. The development agreement between Value Place Franchise Services LLC and West77 aims to roll out or commence construction on all the hotels over the next four years. West77’s partner company in this agreement is Keystone National Group, which develops multifamily and commercial properties. Value Place Property Management will manage the new West77 Partners portfolio.
