MCCLELLAN, CALIF. – A new 70,000-square-foot conference center has opened at the Lions Gate Hotel at McClellan Park. The hotel is located in McClellan, which is seven miles southeast of Sacramento. The new addition includes a 38,000-square-foot General Session Room. The hotel previously contained only 8,000 square feet of meeting and event space.
SANTA ROSA, CALIF. — The 138-room Courtyard by Marriott in Santa Rosa has sold to an affiliate of Pacifica Companies for an undisclosed sum. Santa Rosa is situated northwest of Napa and Sonoma. The hotel is located one block from the intersection of Highway 101 and Highway 12. It recently underwent an extensive renovation. The hotel will be managed by Pacifica Host Hotels. The seller, LNR Partners, was represented by Mike Armstrong of HREC Investment Advisors.
SANTA ROSA, CALIF. — The 138-room Courtyard by Marriott in Santa Rosa has sold to an affiliate of Pacifica Companies for an undisclosed sum. Santa Rosa is situated northwest of Napa and Sonoma. The hotel is located one block from the intersection of Highway 101 and Highway 12. It recently underwent an extensive renovation. The hotel will be managed by Pacifica Host Hotels. The seller, LNR Partners, was represented by Mike Armstrong of HREC Investment Advisors.
NEWTON, MASS. — Hospitality Properties Trust (HPT) has signed a letter of intent and entered into an exclusive negotiating period for hotel investments with Madrid-based NH Hoteles (NHH) on properties in Latin America, Europe and the United States totaling approximately $375 million. Under the agreement, HPT will purchase five hotels in Latin America from NHH for $70 million. HPT will also provide a €170 million (U.S. $223.4 million) loan to NHH on four hotels in Europe. NHH and a European partner currently own a 242-unit hotel in New York City. HPT and NHH will form a joint venture to acquire this hotel. HPT expects to provide up to $80 million to retire the ownership of NHH's current partner and fund a major refurbishment of this hotel.
GREENVILLE, TEXAS — CBRE Hotels has arranged the sale of the 139-room Quality Inn, located at 1215 E. Interstate 30 in Greenville. The hotel features Hangar Bar, an outdoor pool, billiard room, exercise room and complimentary breakfast for hotel guests. Bert Stevens of CBRE Hotels in Dallas represented the seller in the transaction. A private investor purchased the hotel.
BOWLING GREEN, KY. — Meridian Design Build has completed the construction of an 85,000-square-foot Staybridge Suites Hotel in Bowling Green. The three-story, 124-unit hotel includes studio, one-, and two-bedroom layouts with fully-equipped kitchens. Hotel amenities include a fitness center, outdoor pool and on-site meeting rooms to accommodate the needs of business travelers and other extended-stay guests. The project team also included Adkisson & Associates Architects, Arnold Consulting Engineering Services and Dellisart LLC.
CHICAGO — Illinois’s Metropolitan Pier and Exposition Authority (MPEA) recently unveil plans to build a $400 million, 1,200-room hotel near Chicago’s McCormick Place convention center. The hotel, which is located near the intersection of Michigan Avenue and Cermak Road, would serve as the headquarters for groups holding shows at McCormick Place However, JRM Technology, the site’s owner, said it already has invested thousands of man-hours and millions of dollars to develop a $400 million data center there, according to the Chicago Tribune. James McHugh, a principal at the company, said in a statement, that City Council has already approved plans to start construction on the data center and the company is just waiting on a building permit to be issued. Read the full story here.
COLUMBUS, OHIO — Bellwether Enterprise Real Estate Capital has closed a $30 million loan to refinance the Hyatt Regency, a 633-room hotel in downtown Columbus. The 20-story hotel opened in 1980 and is located at 350 N. High St. The 10-year loan has a 20-year amortization schedule.
SAN ANTONIO — Woodbine Development Corp. has refinanced its Hyatt Regency Hill Country Resort and Spa in San Antonio with $89.5 million in loans. Morgan Stanley provided $61 million in senior debt, and Prudential Real Estate Investors provided the $28.5 million in mezzanine debt. Dan MacDonnell of Cushman & Wakefield's Los Angeles office represented Woodbine Development in the transaction. Dallas-based Brown McCarroll provided legal counsel. The hotel is currently undergoing a $35 million expansion and renovation. Woodbine is managing the expansion, WATG and Wimberly Interiors are designing the interior, HKS Hill Glazier Studio is the architect of record, Rialto Studio is managing the landscape makeover and Hardin Construction Co. is the general contractor.
OMAHA — The $23 million conversion of the former Federal Building in Omaha into a Residence Inn by Marriott is under way. Once completed this summer, the hotel will include 152 rooms, a 1,000-square-foot penthouse on the 12th floor with panoramic views of the city and nearly 2,000 square feet of meeting space. The project will preserve and utilize all of the building’s original marble, terrazzo tile, wooden railings and brass fixtures. The conversion of the Omaha Federal Building into a Residence Inn by Marriott is the latest in a series of adaptive reuse projects by First Hospitality Group Inc. aimed at maximizing the potential of historic properties.