Hospitality

Construction Begins on Hotel at Hughes Landing in The Woodlands

by Haisten Willis October 16, 2014

THE WOODLANDS, TEXAS — The Howard Hughes Corp. and The Woodlands Development Co. have begun construction on a 205-room, nine-story Embassy Suites Hotel at Hughes Landing, a 66-acre mixed-use development in The Woodlands. Hughes Landing is located on Lake Woodlands, 30 miles north of Houston. The project offers retailers, dining, entertainment, apartments and Class A office space. The 172,000-square-foot hotel is scheduled for completion in late 2015. Amenities will include 3,000 square feet of meeting and event space, a business center, bar, restaurant and a 4,000-square-foot rooftop pool deck overlooking Lake Woodlands.

October 16, 2014

Hospitality Loans Massachusetts Northeast

HFF Arranges $56.5M Loan for Newly Built Residence Inn in Boston

by Amy Works October 15, 2014

BOSTON — HFF has arranged $56.5 million in permanent financing for the Residence Inn Boston/Back Bay Fenway Park, a 175-room extended stay hotel located at 125 Brookline Ave. in Boston’s Fenway/Kenmore neighborhood. HFF secured the 10-year, fixed-rate loan for the borrower, Boylston Properties, through Cornerstone Real Estate Advisers on behalf of an institutional lender. Completed in July 2013, the eight-story, 154,684-square-foot hotel offers a mix of studio, one-bedroom and two-bedroom guestrooms. Hotel amenities include a breakfast area, lounge/bar, meeting room, indoor pool, fitness center, outdoor terrace on the top floor and below-grade parking for 50 cars. Additionally, the property includes 6,000 square feet of ground-floor retail space leased to Bar Louie’s and Santander. Fred Wittman and Robyn King of HFF represented the borrower in the transaction.

October 15, 2014

Colorado Hospitality Western

Quality Inn – Denver Tech Center Sells for $2.6M

by Nellie Day October 15, 2014

DENVER – The 62-room Quality Inn – Denver Tech Center in Centennial has sold to a private investor for $2.6 million. The hotel is located at 9799 E. Geddes Ave. Neville Rustomjee of Marcus & Millichap’s Denver office represented the seller, a limited liability company, in this transaction

October 15, 2014

Hospitality Texas

M&M Arranges Sale of 101-Room Hotel in Metro Dallas

by Haisten Willis October 14, 2014

ADDISON, TEXAS — Marcus & Millichap has arranged the sale of Holiday Inn Dallas-North Addison, a 101-room hotel located in Addison, a northern suburb of Dallas. Chris Gomes of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a Texas-based limited liability company. Gomes also procured the buyer, a private investor. Holiday Inn Dallas-North Addison is located at 4960 Arapaho Road. It was built in 2000 and renovated in 2009. Amenities include a business center, gym, swimming pool and on-site restaurant.

October 14, 2014

Hospitality Midwest Ohio

Value Place Opens New Hotel in Cleveland

by Danielle Everson October 14, 2014

CLEVELAND — Value Place has opened a newly constructed extended-stay hotel in Cleveland. The property is located at the intersection of I-480 and Grayton Road at 20829 Emerald Parkway. The new four-story, 124-room hotel features laundry facilities, high-speed wireless Internet and modified kitchens. The hotel opened Oct. 10. This is Value Place’s 10th hotel in Ohio. A ribbon-cutting event is planned for Oct. 23.

October 14, 2014

Hospitality Indiana Midwest

Huff, Niehaus & Associates Arranges Sale of Five-Hotel Portfolio for $37M

by Danielle Everson October 9, 2014

INDIANAPOLIS — Huff, Niehaus & Associates has arranged the sale of an extended-stay hotel portfolio with properties in Indiana and Kentucky for $37 million. The portfolio of five hotels includes 583 rooms consisting of three Candlewood Suites and two Suburban Extended Stay hotels. A Chicago-based investment firm purchased the portfolio from C&L Hospitality LLC. Funding was secured through Arbor Commercial Mortgage LLC. The properties include: Candlewood Suites Indianapolis N.E., located at 8111 Bash St.; Candlewood Suites Indianapolis Airport, located at 5250 W. Bradbury Ave.; Suburban Extended Stay Indianapolis N.E., located at 8055 Bash St.; Suburban Extended Stay in Clarksville, Ind., located at 1620 Leisure Way; and Candlewood Suites Louisville Airport, located at 1367 Gardiner Lane. H. Brandt Niehaus of Huff, Niehaus & Associates represented the seller.

October 9, 2014

Florida Hospitality Southeast

Home2 Suites by Hilton Opens First Hotel in Florida

by John Nelson October 7, 2014

FLORIDA CITY, FLA. — Hilton Worldwide has opened its first Home2 Suites by Hilton hotel in the state of Florida: the Home2 Suites by Hilton Florida City. R.A. & R.E. Inc. owns the five-story, 96-suite hotel located at 77 N.E. 3rd St., situated off Exit 1 of the Florida Turnpike. The hotel represents the Home2 Suites by Hilton brand’s expansion into its 16th state since its first hotel opened in 2011. Amenities at the pet-friendly hotel include an indoor saline pool, gas barbecue grills, a combined laundry and fitness area called Spin2 Cycle, an Oasis lobby area and a complimentary continental breakfast for guests.

October 7, 2014

Hospitality Maryland Southeast

MCR Development Completes Renovations on Two Metro Baltimore Hotels

by John Nelson October 6, 2014

HANOVER, MD. — MCR Development LLC has completed renovations on two hotels in Hanover, a suburb of Baltimore. The assets are the 130-room Hampton Inn & Suites Arundel Mills/Baltimore at 7027 Arundel Mills Circle and the 131-room Residence Inn Arundel Mills/BWI Airport at 7035 Arundel Mills Circle. The renovations include upgrades to the lobby areas and the guestrooms.

October 6, 2014

Georgia Hospitality Southeast

Encore Hospitality Buys Doubletree Suites in Atlanta, Plans $6M Renovation

by John Nelson October 3, 2014

ATLANTA — Encore Hospitality, a subsidiary of Dallas-based Encore Enterprises Inc., has purchased a 154-room Doubletree Suites by Hilton hotel in Atlanta. The hotel is located in Cobb County immediately adjacent to SunTrust Park, the future ballpark of the Atlanta Braves that is slated to open by Opening Day 2017. Encore plans on investing $6 million to remodel the hotel to include a new lobby with a multi-story water feature and a sports-themed lounge. Encore purchased the hotel for an undisclosed price from Inland Hospitality. Atlanta-based Hodges Ward Elliott brokered the transaction.

October 3, 2014

California Hospitality Western

Lowe Enterprises Buys the Hotel De Anza in San Jose

by Jaime Lackey October 1, 2014

SAN JOSE, CALIF. — Lowe Enterprises Investors (LEI) has acquired the 100-room Hotel De Anza in San Jose for an undisclosed sum. The hotel is located at 233 W. Santa Clara Street in the city’s downtown area. The hotel originally opened in 1931. It is listed on the National Register of Historic Places. Hotel De Anza was designed by famed architect H.H. Weeks. Notable guests have included Eleanor Roosevelt, The DuPonts, Henry Kaiser, Jack Dempsey, Susan Hayward, Paulette Goddard and Fred MacMurray. The AAA-Four Diamond hotel was last renovated in 1990. LEI plans to further renovate the property next year. De Anza LLC has owned and operated the property for the past 24 years. The current iteration features La Pastaia Italian restaurant, Caffe La Pastaia grab-and-go concept, and the Hedley Club, which offers live jazz music and 5,800 square feet of meeting/function space. LEI acquired the hotel on behalf of an investment client. Destination Hotels, an LEI affiliate, will continue to operate the property as an independent, boutique hotel. De Anza LLC was represented by CBRE Hotels.

October 1, 2014

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