Hospitality

SAVANNAH, GA. — An affiliate of Noble Investment Group has acquired the Staybridge Suites Savannah Historic District, a 104-room extended-stay hotel located at 301 E. Bay St. in Savannah. The five-story property was completed in 2006 and is comprised of both newly constructed and historic building features, such as a restored 1870s-era banquet facility. The sale also included an adjacent, 16,200-square-foot development site. Daniel Peek, Holden Lim, Max Comess, Christopher Lingerfelt and Alexandra Lalos led the HFF team that represented the seller, Savannah Hospitality Properties LLC, in the transaction.

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PITTSFIELD, MASS. — A leader in the Berkshire County hospitality sector has plans to develop a $10 million Hilton Garden Inn in Pittsfield, located about 50 miles north of Springfield. Vijay Mahida, a South County lodging entrepreneur, plans to break ground on the 95-room hotel this spring with a grand opening targeted for late spring 2014. According to the Berkshire Chamber of Commerce, the project is expected to employ 95 construction workers and have a total impact of $16 million on the local economy. When completed, the hotel is expected to employ between 25 and 30 employees.

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ATLANTA — Sage Hospitality has purchased six Courtyard by Marriott hotels in partnership with Whitman Peterson, including three in Georgia. The deal includes the 146-room Courtyard by Marriott 75 North in Marietta, the 127-room Courtyard by Marriott Atlanta Windy Hill in Atlanta and the 131-room Courtyard by Marriott Atlanta Norcross Peachtree Corners in Atlanta. Al Calhoun and Mark Fair of Jones Lang LaSalle represented the seller, an affiliate of Clarion Partners LLC. The additional properties are located in other “key select service markets,” in Dallas and Southfield, Mich., according to Calhoun. “The portfolio has the ability to substantially increase RevPar penetration, grow NOI and provide strong investment returns.”

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HOUSTON — Formerly a Renaissance, the 20-story, 388-room DoubleTree by Hilton Houston Greenway Plaza has opened. The hotel is located in Houston's Greenway Plaza, just outside the Galleria area, and will undergo a $15 million renovation for its public space and guest rooms in the summer. Garrison Investment Group owns the hotel and Aimbridge Hospitality manages the property, which features the Bistro 59 restaurant, 26,000 square feet of event space, an outdoor heated pool, a 24-hour fitness center, business center and a breakfast buffet.

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SANTA MONICA, CALIF. – The 38-room Embassy Hotel in Santa Monica has sold to Lighthouse Investments and Paligroup for an undisclosed sum. The duo worked in partnership with a local private equity firm. The 1927 boutique beach lodge is currently undergoing a renovation that will convert it to the Paligroup’s signature hotel product. It will open as Palihouse Santa Monica this summer. The seller was represented by Rod Apodaca and Bob Kaplan of CBRE Hotels and by Laurie Lustig-Bower and Kamran Paydar of CBRE’s Century City office. Joint venture equity and debt financing, which covered the acquisition and renovation, was facilitated by Tim Meier, Nicholas White and ScottEschelman of Preferred Capital Advisors.

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MARINA DEL REY, CALIF. — DoubleTree by Hilton has opened the 277-room Hotel MdR Marina del Rey – a DoubleTree by Hiltonhotel in the Los Angeles beach community. The hotel was formerly known as the Courtyard Los Angeles Marina del Rey before it was purchased by Channel West Group and Arris Investments LLC. It is operated by Evolution Hospitality, which also made an equity investment in the hotel. Preliminary renovations began in 2012, while property renovations are expected to be complete in early 2014. The $7-million renovation will include the addition of six more guestrooms. It is being carried out by architecture firm CMMI.

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SANTA MONICA, CALIF. – The 38-room Embassy Hotel in Santa Monica has sold to Lighthouse Investments and Paligroup for an undisclosed sum. The duo worked in partnership with a local private equity firm. The 1927 boutique beach lodge is currently undergoing a renovation that will convert it to the Paligroup’s signature hotel product. It will open as Palihouse Santa Monica this summer. The seller was represented by Rod Apodaca and Bob Kaplan of CBRE Hotels and by Laurie Lustig-Bower and Kamran Paydar of CBRE’s Century City office. Joint venture equity and debt financing, which covered the acquisition and renovation, was facilitated by Tim Meier, Nicholas White and ScottEschelman of Preferred Capital Advisors.

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MARINA DEL REY, CALIF. — DoubleTree by Hilton has opened the 277-room Hotel MdR Marina del Rey – a DoubleTree by Hilton hotel in the Los Angeles beach community. The hotel was formerly known as the Courtyard Los Angeles Marina del Rey before it was purchased by Channel West Group and Arris Investments LLC. It is operated by Evolution Hospitality, which also made an equity investment in the hotel. Preliminary renovations began in 2012, while property renovations are expected to be complete in early 2014. The $7-million renovation will include the addition of six more guestrooms. It is being carried out by architecture firm CMMI.

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NEW ORLEANS — Chesapeake Lodging Trust has purchased the W New Orleans — French Quarter from Starwood Hotels & Resorts Worldwide Inc. for $25.5 million. Starwood has entered a long-term management contract to continue operating the hotel. The 97-room property is located on Chartres Street, near Jackson Square and many of the retail and jazz clubs of the French Quarter. The hotel also includes a fitness center and Creole cuisine restaurant.

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