DALLAS — CBRE | Hotels has arranged the sale of the 129-room Staybridge Suites in Dallas, located at 16060 Dallas Parkway. The seller, Driftwood Hospitality Management, sold the hotel to a Texas-based buyer that plans to implement a full renovation of the property. Bert Stevens of CBRE | Hotels in Dallas represented the seller in the transaction. This sale is the 12th hotel closing for CBRE | Hotels in Dallas.
INDIANAPOLIS — Rockbridge Partners has acquired the historic Canterbury Hotel, a 99-room, full-service hotel located in downtown Indianapolis, from Turner Woodard, an Indianapolis entrepreneur and investor. The purchase price was undisclosed. Rockbridge plans to renovate and transform the Canterbury Hotel into upscale lodging. Renovation plans include opening up and refurbishing the lobby area, relocating and expanding the fitness center and redeveloping the restaurant and lounge. The corridors and guestrooms will also be fully refurbished, including completely renovated guest bathrooms. The hotel is located adjacent to the Circle Centre Mall and St. Elmo's Steakhouse and is within walking distance of Monument Circle, the State Capitol, Bankers Life Fieldhouse and Lucas Oil Stadium. Azul Hospitality Group will manage the property.
WOODWAY, TEXAS — Marcus & Millichap Real Estate Investment Services has arranged the sale of Marriott’s SpringHill Suites Waco Woodway, located at 200 Colonnade Parkway in Woodway. The four-story hotel contains 82 guestrooms, two meeting rooms, a full-service bar, an indoor swimming pool and spa and fitness center. Chris Gomes, Allan Miller, Jake Gaddy, David Greenberg and Skyler Cooper of Marcus & Millichap represented the seller, a Texas-based investor. Jonathan Ruprai of Marcus & Millichap’s Tampa, Fla., office represented the buyer, an investment group from Ohio.
ROCKY POINT, FLA. — HREC Investment Advisors has brokered the sale of an 88-room Holiday Inn Express and a 70-room Hampton Inn located in the Tampa suburb of Rocky Point. The two hotels are located adjacent to each other. Scott Stephens and Jaimin Patel of HREC represented the undisclosed seller in the deal. The buyer, which was also undisclosed, plans to renovate both properties and retain their brands.
QUAKERTOWN, PA. — Optimum Hotel Brokerage has closed the sale of the Best Western Quakertown, a select-service hotel in Quakertown, a northern suburb of Philadelphia. Joe McCann of Optimum represented the seller, a family that owned and operated the 44-room hotel for more than 30 years. The buyers of the hotel were local hotel investors. There were more than 20 offers on the property, according to McCann. The purchase price was undisclosed.
HOUSTON — The Royal Sonesta Hotel Houston will soon undergo a $25 million renovation, featuring upgrades to the lobby, all 485 guestrooms, its restaurant and bar and its 50,000 square feet of event space. Existing amenities such as the rooftop swimming pool will be enhanced as well. Looney & Associates is designing the hotel renovations. The hotel is located in Houston's Uptown District, adjacent to the Houston Galleria. A majority of the work is slated for completion this fall.
FORT WORTH, TEXAS — Homewood Suites by Hilton has opened a new 112-suite hotel in Fort Worth, known as Homewood Suites — Fort Worth Medical Center. Fort Worth Midtown Lodging Partners ES owns the property and Raymond Management Co. manages it. The new hotel is located at 2200 Charlie Ave. and features an amenity package consisting of a fitness center, pool, sports court, 24-hour business center and meeting space.
NEWPORT MIDDLETOWN, R.I. — Homewood Suites by Hilton has opened its newest hotel in Newport Middletown, located at 348 W. Main Road. The four-story, 92-suite Homewood Suites Newport Middletown is owned by Main Hotel LLC and managed by J. Karam Management Inc. The hotel is located near historic Newport, which includes Newport’s Cliff Walk, Sachuest Point and the Newport Mansions.
DENVER, SAN FRANCISCO – Blackstone has purchased a four-property, Hilton Select Service Portfolio that includes the 157-room Hilton Garden Inn in Denver and the 177-room Homewood Suites in San Francisco.The purchase price was not disclosed. The portfolio contains a total of 751 rooms. The Hilton Garden Inn is located in the Meridian Business Park at 9290 Meridian Blvd. It completed a $2.3-million capital improvements program in 2011. The Homewood Suites is located at 2000 Shoreline Court near Downtown San Francisco. It completed an extensive renovation in 2008, as well as a public-area renovation in 2013.
BELTSVILLE, MD. — Los Angeles-based Laurus Corp. has acquired the Sheraton Washington North Hotel from The Carlyle Group. The nine-story property contains 207 rooms and is located at 4095 Powder Mill Road in the Washington, D.C., suburb of Beltsville. The hotel features 5,410 square feet of meeting space, a 60-seat restaurant, a lounge and a recently renovated fitness center. Savills Hospitality Group represented Carlyle in the transaction.
