MIAMI — Laurus Corp., a private real estate investment and development firm, has acquired the Sofitel Miami hotel. The 14-story luxury hotel sits on 10 acres with 281 rooms and 17,351 square feet of meeting and event space. Approximately $4.5 million will be invested in renovations for the hospitality property, and the site includes 1.3 acres for additional development. Sofitel Miami hotel is located at 5800 Blue Lagoon Dr., adjacent to Miami International Airport in Miami.
Hospitality
ATLANTA — The dual-branded Hilton Garden Inn and Homewood Suites by Hilton has opened in Midtown Atlanta. The 12-story hotel is located at 97 10th St. and includes 136 Hilton Garden Inn guestrooms and 92 Homewood Suites studios. North Point Hospitality Group Inc. owns and manages the property. The hotel splits its lobby between the brands, offering two separate check-in desks and lodging and dining areas. Communal areas include meeting rooms, a business center, pool and fitness center.
SAN DIEGO – The 317-room Courtyard San Diego Mission Valley/Hotel Circle has sold to Carey Watermark Investors for $85 million. The hotel is located on San Diego’s Hotel Circle in Mission Valley. The seller was a private investment group that employed Tarsadia Investments as its agent. The sale was executed by John Strauss, James Stockdale and Samantha Fisher of Jones Lang LaSalle Hotels.
COLUMBUS, OHIO — A joint venture between Driftwood Hospitality Management and Apollo Global Real Estate Management has purchased the DoubleTree Suites by Hilton Columbus Downtown. The hotel features 194 guestrooms and 2,600 square feet of event space. The property is within walking distance of the State Capitol, Ohio Supreme Court and Columbus City Hall. The property will continue to operate under the DoubleTree flag. The purchase marks the fifth hotel acquisition between the joint venture.
WASHINGTON, D.C. — Jones Lang LaSalle (JLL) Hotels has secured $31.5 million to refinance the Club Quarters Washington, D.C., a 161-room full-service hotel two blocks from the White House. Mike Huth of JLL Hotels real estate investment banking team led the transaction on behalf of the borrower, Rockwood Capital LLC, which has refinanced three Club Quarters hotels during the past year.
NEW YORK CITY — Developer John Lam has acquired a development site at 1227 Broadway in the Midtown West neighborhood of Manhattan for $16 million. The site is a triangularly shaped parcel that totals 5,412 square feet. The zoning designation allows for 51,420 square feet of building space. The site currently contains two buildings and a parking lot. The buyer recently purchased the buildings at 1205 and 1225 Broadway and the new acquisition completes the entire blockfront. The new owner plans to use the site for the construction of one or two hotels. Bob Knakal and John Ciraulo of Massey Knakal represented the seller.
ROSENBERG — Guru Krishna Corp. has purchased the 77-room Hampton Inn, located at 3312 Vista Drive in Rosenberg. R.S. Patel of Colliers International Hotels represented both the seller, Janmangal LTD, and the buyer in the transaction. The transaction was a short sale for Comerica Bank.
PHOENIX — The Sheraton Crescent and the Crowne Plaza Phoenix Airport hotels have sold to separate all-cash investors. The purchase prices were not disclosed. The 342-room Sheraton Crescent in Phoenix was purchased by New Crescent Investments LLC from FelCor Lodging Trust Inc. The hotel previously operated as a Starwood property but will now function as a Sheraton franchise. The 300-room Crowne Plaza Phoenix Airport was purchased by CHPH, LLC from East Washington Hospitality LLC. The buyer is a partnership that includes Coast Hotels and Resorts. The property will soon be rebranded as a Coast Hotel. Both properties will undergo significant renovations. The hotels were sold by Bill Murney of HREC Investment Advisors' Phoenix office.
HONOLULU — Starwood Hotels & Resorts Worldwide has spent more than $230 million refurbishing four of its Hawaiian properties. The1,636-room Sheraton Waikikiin Honolulu received a $188-million renovation; the 508-room Sheraton Maui Resort & Spaunderwent $6.5 million-worth of renovations; the 394-room Sheraton Kauai Resortrecently completed a $16-million revitalization; and the newly renamedSheraton Kona Resort & Spa at Keauhou Bay(formerly Sheraton Keauhou Bay Resort & Spa) saw $20 million invested in its resort.
HINESVILLE, GA. — A 53-room former Quality Inn at 706 E. Oglethorpe Highway in Hinesville has traded. Jonathan Ruprai of Marcus & Millichap’s Tampa, Fla., office represented the seller, a financial institution, and the buyer, a Georgia-based limited liability company. John Leonard is Marcus & Millichap’s broker of record in Georgia. The former Quality Inn was built in 1995.