Hospitality

LAURUS ACQUIRES HILTON GARDEN INN IN FORT WASHINGTON, PA.

by admin October 21, 2013

FORT WASHINGTON, PA. — Laurus Corp. has acquired the 146-room Hilton Garden Inn in Fort Washington. Located 20 miles north of downtown Philadelphia, the six-story hotel features an indoor swimming pool, business center, guest laundry facility, the brand’s signature restaurant and bar and three meeting facilities totaling 3,350 square feet. Laurus plans to invest $1.9 million in the property toward renovations. The Hilton Garden Inn is adjacent to the Fort Washington Office Park, which includes nearly 6 million square feet of Class A office space. The office park is home to more than 100 companies such as GMAC/Ally, URS Corp., Honeywell, Verizon, FedEx and Johnson & Johnson.

October 21, 2013

PEAK CAPITAL BUYS THE ARTISAN IN DENVER

by admin October 21, 2013

DENVER — Peak Capital Partners has purchased The Artisan, a 434-unit apartment community in Denver, for an undisclosed sum. The community is located at 10025 E. Girard Ave. It is currently 97 percent occupied. Peak plans to launch a multi-million-dollar capital improvements project at The Artisan that will include exterior and interior renovations, enhanced landscaping and extensive interior upgrades. The seller, Prime Residential, was represented by HFF.

October 21, 2013

Hospitality Western

NORTHWOOD INVESTORS ACQUIRES THE LONDON WEST HOLLYWOOD

by admin October 18, 2013

WEST HOLLYWOOD, CALIF. — Northwood Investors LLC has purchased The London West Hollywood, a 200-room hotel in the Los Angeles submarket, for an undisclosed sum. The all-suite luxury hotel is located at 1020 N. San Vicente Blvd. in West Hollywood.The hotel features a restaurant by Gordon Ramsey, as well asa rooftop pool and lounge. This is Northwood’s first West Coast acquisition. The hotel will be managed by Northwood Hospitality LLC, a Northwood affiliate.

October 18, 2013

Hospitality Texas

HOME2 SUITES BY HILTON, TOTALING 84 SUITES, OPENS IN AUSTIN

by admin October 18, 2013

AUSTIN, TEXAS — Home2 Suites by Hilton, Hilton Worldwide’s mid-tier, all-suite brand, has opened a new location at 14022 U.S. Highway 183 in Austin. Home2 Suites by Hilton Austin/Cedar Park is a four-story hotel that includes 84 suites and amenities such as a combined laundry and fitness area, outdoor saline pool and free continental breakfast. Pure Lodging Hospitality Two LLC owns the property, while Lodgic Hospitality manages operations. This is the 23rd location in the United States of the Home2 Suites by Hilton brand.

October 18, 2013

Hospitality Western

NORTHWOOD INVESTORS ACQUIRES THE LONDON WEST HOLLYWOOD

by admin October 18, 2013

WEST HOLLYWOOD, CALIF. — Northwood Investors LLC has purchased The London West Hollywood, a 200-room hotel in the Los Angeles submarket, for an undisclosed sum. The all-suite luxury hotel is located at 1020 N. San Vicente Blvd. in West Hollywood. The hotel features a restaurant by Gordon Ramsey, as well asa rooftop pool and lounge. This is Northwood’s first West Coast acquisition. The hotel will be managed by Northwood Hospitality LLC, a Northwood affiliate.

October 18, 2013

Hospitality Midwest

HREC ARRANGES $20.3M LOAN FOR HOTEL BLAKE IN CHICAGO

by admin October 17, 2013

CHICAGO — HREC Investment Advisors has arranged $20.3 million in financing for the 162-guestroom Hotel Blake in the Printers Row neighborhood of Chicago. The lender was a debt fund. The borrower plans to use proceeds from the loan to reposition the hotel. Hotel Blake is located at 500 S. Dearborn St. in Chicago. Amenities at the hotel include a 24-hour fitness and business center and complimentary Wi-Fi.

October 17, 2013

Hospitality Western

PLAZA LA REINA IN WESTWOOD SCHEDULED FOR COMPLETION

by admin October 16, 2013

LOS ANGELES — Plaza La Reina, an extended-stay, hotel/retail project in the Los Angeles submarket of Westwood, will soon be completed. It will be located at 10488-52 Lindbrook Drive. Plaza La Reina, LP has tapped Bernards to finish the partially built project. It will be designed by Moule & Polyzoides.

October 16, 2013

Hospitality Western

PLAZA LA REINA IN WESTWOOD SCHEDULED FOR COMPLETION

by admin October 16, 2013

October 16, 2013

Hospitality Midwest

HILTON TO OPERATE CLEVELAND CONVENTION CENTER HOTEL

by admin October 15, 2013

CLEVELAND, OHIO — Cuyahoga County has selected Hilton Worldwide to operate a 600-650 room convention center hotel that is currently under development in downtown Cleveland. The hotel will feature subterranean links to the Global Center for Health Innovation and the new convention center, which is also under development. The hotel will also feature approximately 55,000 square feet of meeting space, a full-service restaurant, lobby bar, an indoor pool and fitness center. The new convention center hotel is scheduled to open by 2016. Cuyahoga County is the owner of the hotel, which financed the project through a combination of tax-exempt bonds and other tax-revenue sources. VOA Associates and Atlanta-based Cooper Carry are the joint architectural firms involved in the project and New York City-based Andersen-Miller is managing the interior design.

October 15, 2013

Hospitality Northeast

HFF CLOSES $35M SALE OF DEVELOPMENT SITE IN HUDSON YARDS

by admin October 15, 2013

NEW YORK CITY — HFF has closed the $35 million sale of a 9,875-square-foot development site in Manhattan’s Hudson Yards neighborhood. HFF worked on behalf of the seller, a subsidiary of Lehman Brothers Holdings Inc. New York-based real estate developer David Marx purchased the land parcel, located at 448-452 11th Ave. and 556 W. 37th St. Andrew Scandalios and Jose Cruz, senior managing directors, and Jeffrey Julien and Kevin O’Hearn, managing directors, led the HFF team representing the seller.

October 15, 2013

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