SCOTTSDALE, ARIZ. – The 101-room Hampton Inn & Suites Scottsdale-Riverwalk has received $7 million in acquisition financing. The hotel is located at 9550 E. Indian Bend Road. Indian Bend Hotel Group LLC, an affiliate of Caliber Companies, recently acquired the hotel for $10.4 million. The hotel is part of the 187-acre, $400-million Riverwalk Arizona master development. The bridge loan was funded by Thorofare Capital. The transaction was structured and negotiated by the firm’s Felix Gutnikov.
ATLANTA — HREC Investment Advisors has brokered the sale of the Sheraton Atlanta Airport Hotel, a 395-room property located one mile from Hartsfield-Jackson Atlanta International Airport. Monty Levy, Bill Murney and Scott Stephens of HREC represented the seller, FelCor Lodging Trust Inc., in the transaction. The buyer, an affiliate of Hotel Capital LLC, has selected Expotel Hospitality to manage the hotel.
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.
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.
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
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.
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.
![Candlewood-Suites-Portfolio[2]](https://rebusinessonline.com/wp-content/uploads/2014/10/Candlewood-Suites-Portfolio2.jpg "Candlewood-Suites-Portfolio[2]")
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.
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.
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.
