Hospitality

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

Hospitality Texas

MOODY NATIONAL REIT I TO PURCHASE HOTEL IN AUSTIN

by admin September 29, 2014

AUSTIN — Moody National REIT I Inc. is under contract to purchase the Hilton Garden Inn Austin NW/Arboretum for $29.3 million. The purchase price excludes acquisition costs and is subject to adjustments and prorations. The hotel is located north of downtown Austin just off Highway 183 near the Arboretum at Great Hills, the University of Texas, Sixth Street and Lake Travis. The 138-room hotel opened in 2002. Amenities include an indoor swimming pool and 1,400 square feet of meeting space.

September 29, 2014

Hospitality Texas

MCR COMPLETES RENOVATION OF COURTYARD CORPUS CHRISTI

by admin September 26, 2014

CORPUS CHRISTI, TEXAS — MCR Development LLC has completed the renovation of the 105-room Courtyard Corpus Christi located at 5133 Flynn Parkway in Corpus Christi. The renovation included a redesign of the hotel’s guest rooms, lobby, bistro and public areas. The renovations are part of MCR’s strategy to drive RevPAR growth. The hotel is located near the Texas Route 358 traffic corridor and the Corpus Christi International Airport.

September 26, 2014

Hospitality Midwest

PARAMOUNT LODGING ADVISORS ARRANGES SALE OF 70-ROOM HOLIDAY INN EXPRESS

by admin September 26, 2014

JEFFERSON CITY, MO. — Paramount Lodging Advisors (PLA) has arranged the sale of a 70-room Holiday Inn Express in Jefferson City. A local investor purchased the property, located at 1716 Jefferson St., for an undisclosed price. The new owner will rebrand the hotel. Adam Montufar, Bennett Webster and Brent Clemens of PLA represented the seller, LNR Partners. The team completed the transaction via Auction.com.

September 26, 2014

Hospitality Southeast

HOMEWOOD SUITES OPEN EIGHTH HOTEL IN ATLANTA AREA

by admin September 25, 2014

ATLANTA — Hilton Worldwide’s Homewood Suites by Hilton has opened Homewood Suites by Hilton Atlanta Airport North, its eighth Homewood property in the Atlanta market. The six-story, 122-suite hotel is owned by Rajesh Patel and located at 3405 Bobby Brown Parkway, less than one mile from Hartsfield Jackson International Airport. The hotel offers daily breakfast, complementary Wi-Fi and an airport shuttle service.

September 25, 2014

Hospitality Southeast

HOMEWOOD SUITES OPENS EIGHTH HOTEL IN ATLANTA AREA

by admin September 25, 2014

September 25, 2014

Hospitality Southeast

HFF ARRANGES $14M ACQUISITION LOAN FOR DOUBLETREE SUITES IN ATLANTA

by admin September 25, 2014

ATLANTA — HFF has arranged $14 million in financing for DoubleTree Suites by Hilton Hotel Atlanta-Galleria, a 154-room hotel in Atlanta’s Galleria/Cumberland submarket. The hotel’s address is 2780 Windy Ridge Parkway, approximately eight miles from downtown Atlanta. The hotel’s amenity package includes a sun-lit atrium lobby, the Edge Bar and Cliff Restaurant, fitness center, outdoor swimming pool, 5,000 square feet of meeting space and a business center. The borrower, Encore Hospitality LLC, a division of Encore Enterprises Inc., will use the loan to acquire the hotel and implement a capital improvement program. Cullen Aderhold of HFF led the debt placement team to arrange the loan through Latitude Management Real Estate Investors.

September 25, 2014

Hospitality Western

QUALITY INN & SUITES IN BOULDER CHANGES HANDS

by admin September 23, 2014

BOULDER, COLO. – The 49-room Quality Inn & Suites in Boulder has sold to a partnership between Basecamp Hotels, Eagle Point Hotel Partners and Filament Hospitality for an undisclosed sum. The hotel is located at 2020 Arapahoe Ave. It is situated next to the University of Colorado and within walking distance of Pearl Street Mall's outdoor shopping, dining and entertainment district. The partnership will renovate and reposition the property to their signature brand, Basecamp Hotel. The brand is currently expanding into other markets across the U.S. The seller, Lewis Properties, was represented by Mike Dube of HREC Investment Advisors' Denver office.

September 23, 2014

Hospitality Texas

M&M ARRANGES SALE OF 66-ROOM HOSPITALITY PROPERTY IN SAN ANTONIO

by admin September 23, 2014

SAN ANTONIO — Marcus & Millichap has arranged the sale of Holiday Inn Express & Suites San Antonio South, a 66-room hospitality property. The property is located at 11400 Southeast Loop 410 in San Antonio. The three-story hotel was built in 2008 near downtown San Antonio and the San Antonio International Airport. Allan Miller, Robert Arzola and Chris Gomes of Marcus & Millichap’s San Antonio and Dallas offices marketed the property on behalf of the seller, a limited liability company. Miller also represented the buyer, another limited liability company.

September 23, 2014

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