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.
LAS VEGAS – SLS Las Vegas has broken ground at the site of the former Sahara Hotel & Casino on the Las Vegas Strip. The Sahara, which was shuttered in 2011, will receive a $415-million makeover before reopening as the 1,600-room SLS Las Vegas hotel-casino in fall 2014. The Bazaar by Jos
SAN FRANCISCO — The 252-room Holiday Inn Express on Fisherman’s Wharf in San Francisco has sold to a joint venture between Summit Hotel Properties and an affiliate of InterContinental Hotels Group for $60.5 million. The JV will invest an additional $3 million into the property over the next 12 months. The hotel will be operated under a long-term IHG management agreement.
OKLAHOMA CITY — The 225-room Courtyard by Marriott Oklahoma City Downtown, located adjacent to historic Bricktown at 2 W. Reno Ave. in Oklahoma City, has undergone a $2 million renovation of its guest rooms and meeting spaces. The facelift included a new paint palette for the rooms, plush carpet, new furnishings and HDTVs in all rooms. The hotel is expected to undergo Phase II of its renovation in August. Phase II will include a stylish lobby, a 57-inch LCD TV GoBoard with touch screen, media booths, lounge, local library, coffee bar, nighttime bar and a Starbucks location. John Q. Hammons Hotels & Resorts owns and operates the eight-story hotel.
LAS VEGAS – SLS Las Vegas has broken ground at the site of the former Sahara Hotel & Casino on the Las Vegas Strip. The Sahara, which was shuttered in 2011, will receive a $415-million makeover before reopening as the 1,600-room SLS Las Vegas hotel-casino in fall 2014. The Bazaar by José Andrés, Katsuya by Starck, The Sayers Club and Shelter nightclub have already signed on at the new resort, as has Fred Segal, which will operate a 10,000-square-foot retail outlet on property. SLS Las Vegas is owned by SBE Entertainment Group LLC and its equity partner, Stockbridge Capital Group.
SAN FRANCISCO — The 252-room Holiday Inn Express on Fisherman’s Wharf in San Francisco has sold to a joint venture between Summit Hotel Properties and an affiliate of InterContinental Hotels Group for $60.5 million. The JV will invest an additional $3 million into the property over the next 12 months. The hotel will be operated under a long-term IHG management agreement.
MT. CRESTED BUTTE, COLO. – The Elevation Hotel and Spa in Mt. Crested Butte has sold to Boxer Property for an undisclosed sum. The resort features more than 260 rooms, as well as an indoor heated pool and hot tub, ski-in/ski-out convenience, and a spa and fitness center. The seller was represented by HFF’s John Bourret.
MT. CRESTED BUTTE, COLO. – The Elevation Hotel and Spa in Mt. Crested Butte has sold to Boxer Property for an undisclosed sum. The resort features more than 260 rooms, as well as an indoor heated pool and hot tub, ski-in/ski-out convenience, and a spa and fitness center. The seller was represented by HFF’s John Bourret.