MOBILE, ALA. — Homewood Suites by Hilton has opened a 99-suite hotel at 1388 W. I-65 Service Road S. in Mobile. The four-story hotel, known as Homewood Suites Mobile I-65/Airport Blvd., is expected to create 30 permanent jobs, according to Hilton Worldwide. Kana Hotel Group owns and manages the hotel. The property features complimentary breakfast and Wi-Fi, a restaurant, a 24-hour grocery shopping service, fitness center and a 24-hour business center.
Hospitality
YONKERS, N.Y. — Construction has begun on the 155-room Hyatt Place hotel development in the Cross County Shopping Center in Yonkers. LW Hotel Associates LP is developing the project, along with Friend Development Group LLC. LodgeWorks Partners LP will manage the hotel, which is slated to open in 2015. Guestrooms at the hotel will feature a 42-inch HDTV and complimentary Wi-Fi access. The hotel will also include 990 square feet of meeting space.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of a 54-room Comfort Suites in Irving. Constructed in 1995 and renovated in 2011, the limited-service hotel offers free breakfast and wireless internet access, a business center and airport shuttle service. The property is located at 1223 Greenway Drive, near the Las Colinas Business District and the DFW International Airport. Allan Miller and Chris Gomes of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Gomes also procured the buyer, a private investor.
LONGVIEW, TEXAS — Marcus & Millichap has brokered the sale of an 83-room hotel in Longview. Located at 112 S. Access Road, the two-story, limited-service property includes exterior corridors, complimentary breakfast, a business center, outdoor swimming pool and fitness center. Allan Miller, Skyler Cooper and Chris Gomes of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Gomes procured the buyer, another limited liability company. As the time of the sale, the Hampton Inn franchise was terminated, and the property will soon be converted into a Days Inn.
NAPA, CALIF. — The Harvest Inn, a 74-room boutique hotel in Napa County, has received $42.5 million in bridge financing. The hotel is located at 1 Main Street near Whitehall Lane Leonardini Vineyard. The hotel’s sponsor, Palmer City-Core Hotels (PCCH), a partnership between The Charlie Palmer Group and City-Core Development, also received $4.5 million in equity for the acquisition of the hotel. The JV purchased the hotel at the end of January for an undisclosed sum. PCCH is planning to add food and beverage services to the property. This will include a 100-seat Charlie Palmer concept restaurant, as well as a catering department to handle wedding and corporate retreat business in-house. The debt and equity was arranged by Highland Realty Capital, Inc.
JACKSONVILLE, FLA. — Value Place, an economy extended-stay hotel brand, has opened a newly constructed hotel at 10520 Balmoral Circle West in Jacksonville. The four-story, 124-room property is located nine miles north of downtown Jacksonville. Each room features a large flat-screen TV, high-speed wireless internet and a full kitchen. This is the third Value Place hotel in the Jacksonville area.
SPARTANBURG, S.C. — Terra Capital Partners LLC has closed a five-year, $3 million mezzanine loan as part of a $17 million recapitalization of the Marriott Hotel & Conference Center in Spartanburg. Natixis Real Estate Capital provided the new $14 million first mortgage. The hotel is a nine-story, 247-room property located at 299 Church St. in downtown Spartanburg. Peter Berk of PMZ Realty Capital arranged the loan on behalf of the borrower, a partnership between Southern Hospitality Group and Jimmy Gibbs of Gibbs International. Winegardner & Hammons manages the hotel.
PASADENA, CALIF. — Urban Commons, LLC and Brighton Management have acquired the 333-room Sheraton Pasadena Hotel. The hotel is located at 303 Cordova Street near the Rose Bowl, the Norton Simon Museum, and The Huntington Library and Botanical Gardens.It is the only hotel that is situated directly next to the Pasadena Convention Center. The area falls within the city’s redevelopment district, which recently received a $150-million renovation and expansion. The Sheraton Brand has made a full 20-year commitment to keep the hotel under the Sheraton flag. The new owners plan to modernize the property, which contains a restaurant and bar, 12,000 square feet of interior meeting space, an exercise facility, outdoor heated swimming pool and tennis courts.
ABERDEEN, MD. — Home2 Suites by Hilton has opened its third hotel in the Baltimore area, Home2 Suites by Hilton Baltimore/Aberdeen. The hotel is the brand’s 29th property and its second LEED Silver certified hotel. The five-story, 107-suite property features an indoor saline pool and gas grills for guest use. The hotel is also pet-friendly. Aberdeen Hotels Partners LLC owns the hotel and Cherry Cove Hospitality manages the asset.
HARRISONBURG, EMPORIA AND SOUTH HILL, VA. — American Hotel Income Properties REIT LP, a Toronto-based hospitality REIT, has acquired a portfolio of four hotels in Virginia for $37.1 million. The REIT plans to invest about $6 million in capital improvements for the hotels, including furniture upgrades, fixture replacements and equipment improvements. The hotels total 403 rooms and are located in Harrisonburg, Emporia and South Hill. The properties include Hampton Inn University and Hampton Inn South in Harrisonburg, Hampton Inn in Emporia and Fairfield Inn & Suites in South Hill. The average daily rate (ADR) for the hotels in 2013 was $92.21 and the revenue per available room (RevPAR) was $67.86.