Tuesday, June 17, 2025
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Hospitality

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ArizonaDevelopmentHospitalityWestern

Jackson-Shaw, Holualoa Cos. to Develop 274-Room Hotel in North Phoenix

by Amy Works

PHOENIX — Texas-based Jackson-Shaw and Arizona-based Holualoa Cos. are developing a dual-branded AC Hotel by Marriott North Phoenix at Norterra and Element by Westin North Phoenix at Norterra in Phoenix. Construction is slated to begin in May 2024 for completion in late 2025. The four-story development will feature a total of 274 guest rooms, with AC Hotel by Marriot North Phoenix offering 179 guest rooms and Element by Westin North Phoenix offering 95 rooms. The property will feature 8,000 square feet of flexible meeting space, two deluxe suites, two group communal rooms, a fitness center, and resort-style courtyard with a saline pool, heated spa and lawn. Situated on three acres, the property will total 160,133 square feet. Simmons Bank is providing construction financing, Layton Construction is serving as general contractor, Cooper Cary is serving as architect and DiLeonardo as interior designer.

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DevelopmentHospitalitySoutheastTennessee

3H Group Breaks Ground on 123-Room Hyatt-Branded Hotel in Chattanooga, Tennessee

by John Nelson

CHATTANOOGA, TENN. — Developer 3H Group has broken ground on a new, 123-room Hyatt-branded hotel in Chattanooga. Dubbed the Caption by Hyatt Chattanooga, the property is being developed under a franchise agreement between 3H and Hyatt Hotels Corp. The Caption brand reflects Hyatt’s aim for the hotel to cater to “sociable travelers who want to work, eat, or socialize in communal spaces that encourage meaningful conversations.” Upon completion, the hotel will feature a 24-hour market, workspaces, a rooftop bar, meeting space and food-and-beverage concept Talk Shop. This will mark the second Caption by Hyatt hotel in Tennessee. A construction timeline for Caption by Hyatt Chattanooga was not disclosed.

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Hyatt-Regency-San-Antonio-Riverwalk
AcquisitionsHospitalityTexasTop Stories

Sunstone Hotel Investors Agrees to Acquire Hyatt Regency San Antonio Riverwalk for $230M

by Katie Sloan

SAN ANTONIO — Sunstone Hotel Investors Inc. (NYSE: SHO) has agreed to acquire the 630-room Hyatt Regency San Antonio Riverwalk in San Antonio. An affiliate of Hyatt Hotels Corp. is selling the asset for $230 million.  The hotel is located centrally on San Antonio’s River Walk, a 15-mile pedestrian street that runs alongside the San Antonio River and is lined by restaurants, shops, museums and theaters. The site is adjacent to the $500 million Alamo Visitor Center and Museum development, which is currently under construction. The hotel recently underwent $37 million in guest room renovations and offers amenities including a fitness center, swimming pool, spa and a 40,000-square-foot event space. The property is also home to a number of onsite restaurants, bars and shops.   The acquisition includes nearly two acres of riverfront land and a 516-space parking garage. The buyer expects to complete the transaction in late April. Sunstone is funding the transaction through cash on hand, using a portion of the proceeds from the company’s $370 million disposition of the Boston Park Plaza hotel last October.  Hyatt will continue to manage the hotel under its Hyatt Regency banner and will pay approximately $8 million in advance to secure …

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HospitalityLoansTexas

Sonnenblick-Eichner Arranges $19.5M Loan for Refinancing of Irving Hotel

by Taylor Williams

IRVING, TEXAS — Sonnenblick-Eichner Co., a California-based financial intermediary, has arranged a $19.5 million loan for the refinancing of the Texican Court Hotel in Irving. The 152-room hotel was built in 2019 in the Las Colinas district and offers amenities such as a pool, fitness center, indoor and outdoor event space and an onsite restaurant. Sonnenblick-Eichner arranged the nonrecourse, five-year loan, which featured a 7.74 percent interest rate, through an undisclosed investment bank. The borrower was Valencia Hotel Group.

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AcquisitionsHospitalityNew JerseyNortheast

JLL Arranges Sale of 117-Room Marriott-Branded Hotel Near Philadelphia

by Taylor Williams

MOUNT LAUREL, N.J. — JLL has arranged the sale of a 117-room, Marriott-branded hotel located outside of Philadelphia in Mount Laurel. The SpringHill Suites by Marriott Voorhees Mt. Laurel/Cherry Hill hotel is a four-story building that offers amenities such as a pool, fitness center, business center and 375 square feet of meeting and event space. Ketan Patel, Phil White and Vasilis Halakos of JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsHospitalityMarylandSoutheast

JLL Brokers Sale of 154-Room Hampton Inn Hotel in Metro D.C.

by John Nelson

OXON HILL, MD. — JLL’s Hotels & Hospitality group has brokered the sale of Hampton Inn & Suites National Harbor/Alexandria Area, a 154-room hotel located at 250 Waterfront St. in Oxon Hill. The sales price was not disclosed, but Washington Business Journal reports the asset traded for $47 million. Situated along the Potomac River about 11.5 miles south of Washington, D.C., the 11-story hotel is located across the street from The Gaylord National Resort and Convention Center. The hotel features a business center, fitness center, complimentary breakfast, indoor pool and meeting space. Ketan Patel, Phil White and Vasilis Halakos of JLL represented the seller and procured the buyer. Both parties requested anonymity.

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AcquisitionsHospitalityNortheastPennsylvania

JLL Brokers Sale of 127-Room Hyatt-Branded Hotel in Pittsburgh

by Taylor Williams

PITTSBURGH — JLL has brokered the sale of the 127-room Hyatt Place Pittsburgh Airport Robinson Mall hotel. The hotel offers an indoor pool, fitness center and onsite dining options, as well as proximity to destinations such as Acrisure Stadium, the Pittsburgh Zoo, Settlers Cabin Park, S&T Bank Music Park, PPG Arena and the Pittsburgh Botanical Gardens. Philip White led the JLL team that represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Hampton-Inn-Artesia-NM
AcquisitionsHospitalityLoansNew MexicoWestern

MMCC Arranges $8.8M in Acquisition Financing for Hampton Inn & Suites Artesia in New Mexico

by Amy Works

ARTESIA, N.M. — Marcus & Millichap Capital Corp. (MMCC) has arranged $8.8 million in financing for the acquisition of Hampton Inn & Suites Artesia, a hotel located at 2501 S. Permian Pavilion Ave. in Artesia, located in the southeast corner of the state. Tyler Waller of MMCC’s Phoenix office secured the 10-year loan, which includes three years of fixed interest with a 25-year amortization schedule and 70 percent loan-to-value ratio, on behalf of a private client. Josh Tammen of Marcus & Millichap represented the both the buyer and seller in the transaction. Built in 2016, the Hampton Inn & Suites Artesia features 81 guest rooms and provides direct access to downtown Artesia and Artesia Municipal Airport.

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AcquisitionsDistrict of ColumbiaHospitalitySoutheast

Apple Hospitality REIT Purchases Hotel in D.C. for $116.8M

by John Nelson

WASHINGTON, D.C. — Apple Hospitality REIT has acquired the AC Hotel by Marriott Washington D.C. Convention Center in Washington, D.C., for $116.8 million. Opened in 2020, the property features 234 rooms at 601 K Street NW. Amenities at the hotel include a 1,500-square-foot fitness center, rooftop bar and restaurant and ground-floor retail space. The seller was not disclosed.

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DevelopmentGeorgiaHospitalityMixed-UseRestaurantRetailSoutheast

Centennial Yards Co. Unveils Plans for New Entertainment District in Downtown Atlanta

by John Nelson

ATLANTA — Centennial Yards Co., a development entity owned by Los Angeles-based CIM Group, has unveiled plans for the next phase of its $5 billion mixed-use destination in downtown Atlanta. Spanning eight acres adjacent to Mercedes-Benz Stadium and State Farm Arena, the new phase of Centennial Yards will create a mixed-use entertainment district spanning 480,000 square feet across four buildings, as well as a fan gathering area that the developer says will be heavily utilized during the games held in Atlanta during the 2026 FIFA World Cup. Designed by Gensler, the new phase will comprise a three-story, 70,000-square-foot building housing an unspecified “eatertainment” concept; a four-story, 160,000-square-foot building hosting a single-tenant entertainment venue; a two-story, 50,000-square-foot building with restaurants and shops; and a 14-story, 233-room hotel. Centennial Yards represents the transformation of the city’s Gulch district, a 50-acre site that has primarily served as subterranean parking for Atlanta Falcons games in years past. Including the new entertainment district, Centennial Yards at full build-out will span 8 million square feet of new and converted offices, apartments, hotels, shops, entertainment venues and restaurants, including Wild Leap Brewery. Centennial Yards Co. plans to deliver two-thirds of the overall development by summer 2026.

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