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.
SAN DIEGO — Pacific Hospitality Group (PHG) has acquired Warner Springs Ranch in San Diego County. The 2,400-acre property was purchased at auction. PHG will have $15 million to $18 million invested in the acquisition. It plans to invest up to an additional $50 million to renovate and redevelop the facilities. The ranch contains a 27,000-square-foot main lodge, 250 casita units, a 144-acre golf course and club house, four tennis courts, equestrian facilities, two restaurants, a spa, campgrounds, three swimming pools, a private airport and meeting facilities. The deal was brokered by CBRE’s Jeff Woolson.
SANTA ANA, CALIF. – The 121-room Santa Ana Hampton Inn & Suites has sold to Trigild, Blu Hotel Investors and Pacifica Real Estate Group (PREG) for an undisclosed sum. The hotel is located at 2720 Hotel Terrace Drive in Santa Ana. It is situated on 1.45 acres near South Coast Plaza and John Wayne International Airport. The hotel will undergo an extensive renovation and will continue operating under the current Hampton franchise agreement.
FISHERS, IND. — Vista Capital Co. has arranged $7.7 million of financing for the Staybridge Suites in Fishers, a northeast suburb of Indianapolis. The Staybridge Suites is a 146-room, five-story hotel built in 2000 and is located at 978 Crosspoint Blvd. A European-based structured finance group provided the CMBS loan. The 10-year, fixed-rate financing will be used to fund a performance improvement plan in 2015. The financing will also retire an existing loan, while concurrently reducing debt-service payments and providing ownership with an equity recapitalization. This is the second hotel financing Vista has closed in metropolitan Indianapolis within the last four months.
DALLAS — The Dallas office of HFF has arranged $250 million in financing for three Omni hotels totaling 1,339 rooms. The three hotels include the 614-room Omni Fort Worth at 1300 Houston St. in Fort Worth, the 378-room Omni Houston at 4 Riverway in Houston and the 347-room Omni Chicago at 676 N. Michigan Ave. in Chicago. Whitaker Johnson, John Bourret and Jim Curtin of HFF's Dallas office led the team that arranged the 15-year, fixed-rate loan through Prudential Mortgage Capital Co. The HFF team arranged the loan on behalf of the buyer, Omni Hotels Corp., a subsidiary of Irving-based TRT Holdings.
SANTA ANA, CALIF. – The 121-room Santa Ana Hampton Inn & Suites has sold to Trigild, Blu Hotel Investors and Pacifica Real Estate Group (PREG) for an undisclosed sum. The hotel is located at 2720 Hotel Terrace Drive in Santa Ana. It is situated on 1.45 acres near South Coast Plaza and John Wayne International Airport. The hotel will undergo an extensive renovation and will continue operating under the current Hampton franchise agreement.
NEW YORK CITY — Chesapeake Lodging Trust has acquired the newly developed 185-room Hyatt Place New York Midtown South, located at 52 W. 36th St. in New York City, for $76.2 million. The hotel, which opened last week, features 250 square feet of flexible, high-tech meeting/function space, a café and 24/7 Gallery Menu. Real Hospitality Group, the operator of Chesapeake’s other hotel in New York City located on 31st Street, will manage the hotel. Fairfield, N.J.-based Chesapeake funded the acquisition with available cash on hand, a credit at closing equal to the outstanding balance of a construction loan provided to the seller, and a $35 million advance under Chesapeake’s $60 million term loan obtained in July 2012.
NEW YORK CITY — The U.S. Green Building Council has awarded Conrad New York, a luxury waterfront hotel, located in Manhattan’s Battery Park City, LEED-Gold certification for new construction. Some environmentally friendly features at the Conrad include: a green roof and roof garden with vegetables used by Conrad New York’s signature restaurant ATRIO and Chef Floyd Cardoz of Danny Meyer’s restaurant North End Grill; bike racks for public use; and low-flow plumbing fixtures that help the hotel reduce its water consumption by more than 30 percent. Other features include light-emitting diode (LED) lights for more than 60 percent of all lighting at the hotel, low volatile organic compound (VOC) materials to promote indoor air quality, locally sourced materials, Forest Stewardship Council (FSC) certified wood and Energy Star kitchen equipment.
VICTORIA, TEXAS — Homewood Suites by Hilton has opened the 109-suite Homewood Suites Victoria, located at 6705 N.E. Zac Lentz Parkway in Victoria. Victoria Associates Ltd. owns the four-story hotel and Castle Hospitality manages it. The hotel offers studio, one- and two-bedroom suites, as well as a fitness center, pool, sports court, 24-hour executive business center and meeting space. The new hotel will be led by general manager Dagmar Gomez and supported by director of sales Christina Henry.
TRUCKEE, CALIF. — The Northstar Lodge, a Hyatt Residence Club in Truckee, has sold to Welk Resort Group for an undisclosed sum. The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, as well as two entitled development parcels. The parcels are entitled for an additional 67 units totaling 102,619 square feet. The ski-in/ski-out private residence club is located at the base of Northstar Mountain in Lake Tahoe. The seller, LTMR Properties, LLC, was represented by HFF’s Holden Lim and Scott Hall.