Hospitality

Candlewood Suites Hotel Completed in San Antonio

by Haisten Willis October 27, 2014

SAN ANTONIO — Cleveland Construction Inc. has completed a new Candlewood Suites hotel at Fort Sam Houston in San Antonio. The 153,685-square-foot, 310-unit hotel is the largest Candlewood Suites hotel in the world. It is part of the Privatization of Army Lodging (PAL) program, an Army-led program aimed at revitalizing on-post lodging facilities for soldiers, their families and other government travelers. The new hotel is five stories tall with amenities including a swimming pool, patio pavilion, business and fitness centers, guest laundry facilities, a breakfast bar and on-post shuttle services.

October 27, 2014

M&M Arranges Sale of Holiday Inn Express in San Angelo

by Haisten Willis October 22, 2014

SAN ANGELO, TEXAS — Marcus & Millichap has arranged the sale of Holiday Inn Express San Angelo, a 68-room hotel. Chris Gomes and Allan Miller of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a limited liability company. Gomes procured the buyer, a private investor. The property is located at 4613 Houston Harte Expressway, near Highway 67. Amenities include a business center, gym, pool and spa.

October 22, 2014

Hospitality Northeast Pennsylvania

Oxford Development Corp. Buys Crowne Plaza Pittsburgh South for $6.1M

by Amy Works October 22, 2014

PITTSBURGH — Oxford Development Corp. has acquired Crowne Plaza Pittsburgh South, located at 164 Fort Couch Road in Pittsburgh’s South Hills area. Situated on 5.4 acres, the 179-room hotel sold for $6.1 million. The hotel features 13 suites, 13 extended-stay suites, an outdoor pool, fitness center, business center and 15,000 square feet of meeting space throughout 10 rooms. HFF marketed the property on behalf of the SageCrest Liquidating Trust, which was represented by its liquidating trustee, Jack Huber, and portfolio director Christopher Brown, both of SOLIC Capital LLC. Denny Meikleham, Mark Popovich and Alan Suzuki of HFF represented the seller in the transaction.

October 22, 2014

California Hospitality Western

Three SoCal Marriott Properties Change Hands in Receivership Sale

by Nellie Day October 22, 2014

THOUSAND OAKS AND SAN LUIS OBISPO, CALIF. — BRE Atlas Property Owner LLC recently picked up three Marriott hotel properties in Thousand Oaks and San Luis Obispo through a receivership sale. The sales price was not disclosed. The three properties included in the receivership sale are: the 139-room Courtyard Marriott at 1605 Calle Joaquin in San Luis Obispo; the 93-room TownePlace Suites by Marriott at 1712 Newbury Road in Thousand Oaks; and the 120-room Courtyard Marriott at 1710 Newbury Road, also in Thousand Oaks. Trigild was appointed receiver of the properties in 2013 after a long legal dispute between certain members of the family trust that owned the three properties, in addition to the Best Western Valencia and Holiday Inn Express Valencia. The court directed Trigild to oversee property management and the operations of the properties. The firm completed the receivership sale of the Holiday Inn Express and Best Western properties in Valencia this past August. The remaining three properties were sold after a Monterey California Superior Court judge ruled in favor of the sale, overruling the objections of some of the trust beneficiaries. The receiver’s counsel was Fernando Landa of Crosbie Gliner Schiffman Southard & Swanson LLP. Alan Reay …

October 22, 2014

Arizona Hospitality Loans Western

Hampton Inn & Suites Scottsdale-Riverwalk Receives $7M in Acquisition Financing

by Nellie Day October 21, 2014

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.

October 21, 2014

Georgia Hospitality Southeast

HREC Arranges Sale of Sheraton Atlanta Airport Hotel

by John Nelson October 20, 2014

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.

October 20, 2014

Hospitality Mixed-Use Texas

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

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