MOON TOWNSHIP, PA. — Homewood Suites by Hilton has opened Homewood Suites by Hilton Pittsburgh Airport/Robinson Mall Area; it is the company’s second hotel in the Pittsburgh area. Located at 2000 GSK Drive in Moon Township, the four-story hotel features 117 suites with fully equipped kitchens, and separate living and sleeping spaces. The property is located minutes from Pittsburgh International Airport and downtown Pittsburgh. Concord Moon Associates LP owns the hotel, which is managed by Concord Hospitality.
Hospitality
PORT CHARLOTTE, FLA. — Aries Capital LLC has arranged a $3.8 million, non-recourse CMBS loan for La Quinta Inn & Suites in Port Charlotte. The 81-room hotel, built in 2008, is located at I-75 and Kings Highway. Leonard Smith of Aries Capital’s Houston office orginated the loan on behalf of the borrower, an unnamed developer that also owns the Four Points by Sheraton in Punta Gorda, Fla.
SAN FRANCISCO — Pebblebrook Hotel Trust has acquired the 160-room Prescott Hotel in San Francisco for $49 million. The hotel is located on Post Street, just one block from Union Square. It also enjoys close proximity to the Moscone Convention Center, the Powell & Market cable car turntable and the Westfield San Francisco Centre. The Prescott Hotel contains two buildings. The 96-room, seven-story building is located at 545 Post Street. Pebblebrook will own a fee-simple interest in this property. The company will own a leasehold interest in the second building, which contains 64 rooms on floors three through seven. That building is located at 555 Post Street. There is 75 years remaining on that lease, which expires in 2089. The former building was originally built in 1913 as the Cecil Hotel, while the latter building was constructed in 1922 for the Union League Club. Both buildings were renovated, repositioned and reopened as the Prescott Hotel in 1989. Pebblebrook also plans to renovate and reposition the property sometime between 2015 and 2016. The hotel’s design will be overseen by Dawson Design Associates. Kimpton will continue to manage the property. This is Pebblebrook’s sixth investment in San Francisco. The Prescott Hotel operated …
KEY WEST, FLA. — Hersha Hospitality Trust has purchased Parrot Key Resort, a 148-room resort in Key West, for $100 million. The resort features a restaurant and tiki bar, four private swimming pools, a fitness center and waterfront sun-bathing terraces, as well as water sport rentals such as kayaks, paddle boards and jet skis. Gregory Rumpel and Carolina Lacerda led the JLL team in representing the seller, Northwood Investors LLC.
KENNEWICK, WASH. – The 61-room Red Lion Inn & Suites in Kennewick has sold to an unnamed buyer for $4.5 million. The hotel is located at 602 N. Young Street, near the Three Rivers Convention Center. The seller, Sandhu NW Hospitality, was represented by Joseph P. Kennedy of Crystal Investment Property (CIP). CIP is a member of Hotel Brokers International.
MIAMI BEACH, FLA. — HFF has brokered the sale of the Raleigh Hotel, a 105-room historic art-deco hotel located at 1775 Collins Ave. in Miami Beach. The Raleigh Group purchased the landmark hotel from affiliates of New York City-based Tristar Capital for an undisclosed price. Hospitality management firm sbe Hotel Group will continue to manage the property. The Raleigh Group, a luxury hospitality group founded by Tommy Hilfiger, plans to renovate the hotel. Manuel de Zarraga, Max Comess, Cyrus Vazifdar, Claudia Steeb and Dan Peek of HFF represented the seller in the transaction.
ERIE, PA. — Hilton Worldwide has opened its 32nd Home2 Suites by Hilton. Located near interstates 90 and 79 in Erie, the four-story, 79-suite hotel features an Oasis lobby area, Home2 MKT, Spin2 Cycle and complimentary continental breakfast. Additionally, the hotel features an indoor pool and gas grills for guests’ use. Chase Hotel Group owns the property.
DESTIN, FLA. — Marcus & Millichap has arranged the sale of a 76-room Sleep Inn located at 10775 Emerald Coast Parkway in Destin. The hotel was constructed in 1992 and fully renovated in 2012. Jonathan Ruprai of Marcus & Millichap’s Tampa office represented the seller, a Florida-based limited liability company.
ST. LOUIS — Marcus & Millichap has brokered the $11.8 million sale of a four-property portfolio of La Quinta Inns. Two of the hotels are located in St. Louis, Mo., one is in Tallahassee, Fla. and one is in Knoxville, Tenn. The St. Louis properties include a 136-room hotel in the Maryland Heights suburb; and a 104-room hotel in proximity to Lambert St. Louis International Airport. Two of the properties will be rebranded into Baymont Inn & Suites hotels and two will take the name Motel 6. Marcus & Millichap represented the seller, a Dallas-based hospitality firm and the undisclosed California-based buyer.
ATLANTA — Hunter Hotel Advisors has brokered the sale of three MainStay Suites hotels for Choice Hotels International. Regional investors purchased the three hotels, located in Pittsburgh, Nashville and Greenville, S.C. David Perrin of Hunter Hotel Advisors’ Washington, D.C., office represented Choice Hotels International in the transaction. All three hotels will undergo extensive renovations.