ONTARIO, CALIF. – The 91-room Hampton Inn & Suites in Ontario has sold to I.O.W., LLC for an undisclosed sum. The hotel is located off Interstate 10 and sits adjacent to the Ontario Mills shopping center. The new owner plans to renovate the property. The seller, MLQ-MLL, LLC, was represented by Michael Blahosky of HREC Investment Advisors.
TEXARKANA, TEXAS — Marcus & Millichap has arranged the sale of the 74-room Rodeway Inn, a two-story hotel located at 5105 N. Stateline Ave. in Texarkana. The hotel originally operated as a Comfort Inn until it was rebranded in 2007. Allan Miller, Chris Gomes and Jake Gaddy of Marcus & Millichap’s Dallas office represented the seller, a limited liability company, in the transaction. Gomes also procured the buyer, a private investor.
ONTARIO, CALIF. – The 91-room Hampton Inn & Suites in Ontario has sold to I.O.W., LLC for an undisclosed sum. The hotel is located off Interstate 10 and sits adjacent to the Ontario Mills shopping center. The new owner plans to renovate the property. The seller, MLQ-MLL, LLC, was represented by Michael Blahosky of HREC Investment Advisors.
BALTIMORE, MD. — Laurus Corp. has completed its acquisition of the Baltimore Hunt Valley Inn, located at 245 Shawan Road in Baltimore. After a $9.5 million renovation, the hotel will become part of the Wyndham Grand Collection and feature 393 guestrooms, 33,000 square feet of meeting space, a fitness center, indoor/outdoor pool, business center and gift shop. The property is surrounded by Class A office parks and several national corporations including BD Diagnostic Systems, Bank of America and PHH Corp.
ST. PAUL, MINN. — The Mille Lacs Band of Ojibwe has hired Graves Hospitality Corp. to take over management and redevelopment of two hotels in downtown St. Paul: the Crowne Plaza St. Paul Riverfront Hotel at 11 Kellogg Blvd.; and the DoubleTree St. Paul Downtown Hotel at 411 Minnesota St. The Mille Lacs Band acquired the hotels, which include nearly half of the hotel rooms in downtown St. Paul, in early March. The Mille Lacs Band of Ojibwe, a self-governing, federally recognized Indian tribe located in East Central Minnesota, purchased the hotels as part of an investment diversification strategy. The band has more than 4,300 enrolled members.
GALVESTON, TEXAS — An 85-key Courtyard by Marriott hotel has opened on a 4.8-acre site along Galveston's Seawall Boulevard. The new hotel is the second Marriott affiliate to open in the area recently. An 88-key Marriott TownePlace Suites opened for business on March 12. Dallas-based Mayse & Associates, an architecture firm, designed the 64,028-square-foot Courtyard by Marriott hotel. The new hotel's outdoor amenities include a resort-style swimming pool, restrooms and a bar area. San Antonio-based Segment Construction Group was the construction management firm and Cameron-based EBCO General Contractor LTD constructed both hotels.
ATLANTA — The 312-room Atlanta Marriott Downtown hotel will be rebranded to the DoubleTree by Hilton brand April 1. The opening of the DoubleTree by Hilton Atlanta Downtown marks the brand's first hotel in downtown Atlanta. Following the conversion, the hotel will begin a property-wide renovation, which is slated for completion later this year. Interstate Hotels & Resorts will continue to operate the property. Originally opened in 1962, the hotel is known for being the first racially integrated hotel in downtown Atlanta. Prominent guests have included the late Elvis Presley, Richard Nixon and Pearl Bailey. The hotel is located at 160 Spring St. N.W.
MINNEAPOLIS — Dougherty Funding LLC has closed a $16 million loan for the acquisition and conversion of the Holiday Inn Minneapolis Metrodome hotel into a Courtyard by Marriott. The hotel, which is located at 1500 Washington Ave. in Minneapolis, has 265 rooms. The renovation and rebranding follows the hotel's recent sale to Minneapolis-based Heartland Realty Investors, according to the Minneapolis St. Paul Business Journal.
BEVERLY HILLS, CALIF. — The 297-room SLS Hotel at Beverly Hills has received $125 million in refinancing. The luxury hotel is located on La Cienega Boulevard at the crossroads of Beverly Hills and West Hollywood. Financing was arranged by Mathew Comfort, Reid McGlamery, Mike Huth, John Strauss and James Stockdale of Jones Lang LaSalle.
SAN PEDRO, CALIF. — The 226-room DoubleTree Hotel in San Pedro has sold to LA Sky Harbor, LLC for an undisclosed sum. The hotel is located along the Cabrillo Yacht Marina. The seller was San Pedro Ownership. The sale was executed by Michael Blahosky of HREC Investment Advisors.