GREENVILLE, S.C. — Summit Hotel Group has acquired the six-story, 120-room Hilton Garden Inn in Greenville for $127,000 per key. Teague Hunter and Trey Scott of Hunter Hotel Advisors represented the seller, Deean Hospitality, in the transaction.
WAUSAU, WIS. — Midway Hotel Club LLC has purchased the Best Western Midway Hotel at 2901 Hummingbird Lane in Wausau for $1.9 million. The seller was Midway Hotel Group LLC. The two-story hotel features 97 rooms. Amenities include two restaurants and a 10,000-square-foot atrium, pool, hot tub, game room and fitness center. Alok Gupta of @properties Commercial was the sole broker in the transaction.
TUCSON, ARIZ. – The 87-room Comfort Suites in Tucson has sold to Variant Commercial Real Estate for an undisclosed sum. The flagged hotel is located at 515 West Auto Mall Drive. It was built in 1998 and contains 40,427 square feet. Variant is currently negotiating to acquire five more hotels in Arizona.
BRISTOL, CONN. — DoubleTree by Hilton has opened its newest hotel in Bristol, located about 18 miles south of Hartford. Formerly a Clarion hotel, the 141-room DoubleTree by Hilton Bristol opens following a 13-month renovation at a cost of more than $20 million led by design firm Parker-Torres Design LLC. Bristol Hotel LLC owns the hotel, which is managed by Prestige Hospitality Group LLC. The five-story, 19-suite tower offers a separate private entrance for guests. The hotel also features more than 7,000 square feet of flexible meeting space, an indoor heated swimming pool, 24-hour fitness center, 24-hour business center and complimentary WiFi throughout the hotel.
TUCSON, ARIZ. – The 87-room Comfort Suites in Tucson has sold to Variant Commercial Real Estate for an undisclosed sum. The flagged hotel is located at 515 West Auto Mall Drive. It was built in 1998 and contains 40,427 square feet. Variant is currently negotiating to acquire five more hotels in Arizona.
NEWTON, MASS. — Chesapeake Lodging Trust (NYSE: CHSP) has closed on a $60 million, fixed-rate mortgage loan, which is secured by the 430-room Boston Marriott Newton. The seven-year loan was provided by PNC Bank N.A. and carries a 3.6 fixed-interest rate per year, with principal and interest payments based on a 25-year amortization schedule. Proceeds from the loan will be used to invest in future acquisitions of hotels and for general corporate purposes. The hotel is located at 2345 Commonwealth Ave. in Newton, a western suburb of Boston.
ISLAMORADA, FLA. — NWCL LLC, an affiliate of Northwood Investors, has secured an $85 million loan for the Cheeca Lodge & Spa, a luxury resort in the Florida Keys. Cheeca Lodge is situated on 27 acres with more than 1,200 linear feet of beachfront in Islamorada. Originally developed in 1946, the property was extensively renovated between 2003 and 2010, and the main lodge building was completely rebuilt in 2009. The resort includes 214 units (a mix of hotel rooms and third-party owned condos), 5,439 square feet of function space, three restaurants, a Jack Nicklaus-designed nine-hole golf course, two swimming pools, a 5,500-square-foot spa, six tennis courts and a fishing pier. The property also maintains the rights to develop 28 new units through an approved site plan. Dan Peek, Chris Drew, Max Comess, Cyrus Vazifdar and Scott Wadler led the HFF team that arranged the 10-year, fixed-rate CMBS loan. The borrower acquired the property in 2011.
BALLSTON, VA. — Donohoe Construction has completed the 183-roon Residence Inn by Marriott Arlington Ballston, located at 650 N. Quincy St. in Ballston. The hotel is a component of the Shooshan Cos. Founder's Square development, a four-building complex consisting of more than 1 million square feet of office, residential, retail and hotel space. Donohoe Hospitality will manage the property, which is the Ballston submarket's first extended-stay hotel. The property was built to LEED Gold standards and features a green roof, a 20 percent reduction in water use and a 44 percent reduction in energy consumption. Architect BBG-BBGM has also incorporated 1,880 square feet of retail space, 1,300 square feet of meeting space and 110 underground parking spaces.
IRVINE, CALIF. – A 210-room Courtyard by Marriott Irvine Spectrum has broken ground in Irvine. The 131,667-square-foot hotel will contain a lap pool, spa area, 1,500-square-foot fitness center, lounge area and bar, guest laundry, 8,500 square feet of meeting space and a convenience market. The $50-million project will be built by R.D. Olson Development and designed by WATG. It is scheduled for completion in July 2014. R.D. Olson will retain ownership of the hotel, while Marriott International will provide management services.
JACKSONVILLE, FLA — Mercury Investment Co. has acquired the 117-room Hampton Inn and Suites Ponte Vedra in Jacksonville. Originally built in 2000, the Hampton Inn recently underwent a major renovation, including upgrades to the lobby, fitness facility and guestrooms. The new owner plans to make additional enhancements, including the addition of a shuttle and manager's reception. Integral Hospitality Solutions will manage the property. CBRE Hotels represented the seller in the transaction.