PHILADELPHIA — Homewood Suites by Hilton has opened an 11-story hotel in Philadelphia's University City neighborhood. Campus Realty Properties-V owns the 136-suite hotel, which is managed by Hersha Hospitality. Amenities include fully equipped kitchens with refrigerators and high-speed Internet access. The hotel also features an outdoor pool, fitness center and nearby walking trails. Located at 4109 Walnut St., the hotel is near the University of Pennsylvania campus.
KENNEWICK, WASH. – A 63-unit Fairfield Inn in Kennewick has received a $4,075,000 cash-out refinance. The hotel is located at 7809 West Quinault Ave. The long-term, fixed-rate loan was arranged by Premier Capital Associates.
ASHEVILLE, N.C. — Denver-based KSL Capital Partners has purchased the 512-room Grove Park Inn Resort & Spa, located between the Blue Ridge and Great Smoky Mountains in Asheville, from Sammons Enterprises. The property includes a spa, eight dining outlets, seven retail outlets, an 18-hole Donald Ross-designed golf course, a 50,000-square-foot sports complex and 55,000 square feet of meeting space with 42 meeting rooms. As part of the resort's 100th anniversary in 2013, KSL is planning a $25 million upgrade, which will include renovating public areas, guest rooms, dining outlets, meeting spaces and the spa.
KOHLER, WIS. — Kohler Co. has completed its multi-phase renovation of The American Club Resort Hotel in Kohler. The American Club was built in 1918 to house immigrant workers of the Kohler Co. and was restored in 1981 as a luxury hotel, earning the Midwest's only AAA Five-Diamond Award in its first year. The latest renovation included upgraded guest rooms with new furniture, plumbing, flat screen TVs and iPod docking stations. Each room also pays homage to a famous American and includes information and photos of icons such as Ben Franklin and Harriet Tubman. Crews also renovated the resort's common areas such as the lobby and library.
ATLANTIC CITY, N.J. — Homewood Suites by Hilton has opened a new 120-suite hotel in Atlantic City. Homewood Suites by Hilton Atlantic City West /Egg Harbor Township includes studio, one- and two-bedroom suites. The hotel also includes an indoor pool, fitness center and business center. The property is located within minutes of the Hamilton Mall and the Atlantic City Boardwalk and Casinos. The Briad Group owns and manages the four-story hotel.
FRISCO — A 120-room Holiday Inn, located at 3400 Parkwood Blvd. in Frisco, has been sold in an all-cash transaction. Chris Gomes of Marcus & Millichap's Dallas office and Allan Miller of the firm's San Antonio office represented the seller, United Central Bank of Dallas, in the transaction. Michael Yu and Rahul Bijlani of Marcus & Millichap's Houston office procured the buyer.
WAWARSING, N.Y. — Nevele Investors LLC has closed on the purchase of Nevele Grande Hotel and Country Club in Wawarsing. The investment group seeks to develop casino gaming at the facility, which must be approved by the state. If approved, the new owners anticipate a $500 million redevelopment to transform the site into a resort and casino. Nevele also plans to preserve the hotel's iconic elements, including the tower, entrance lobby and ice rink and reopen its professional golf course. The hotel, which has been closed since 2009, had slipped into receivership.
BROOKHAVEN, N.Y. — Washington Trust has provided a $10.3 million loan to an affiliate of MCR Development for the financing of a 128-room hotel. The SpringHill Suites by Marriott Long Island Brookhaven is located at 2 Sawgrass Dr. in Brookhaven. Cate Fusco of Washington Trust served as lead lender for the project.
BOSTON — Stuart Dean, an architectural restoration services firm, has started rehabbing a century-old hotel in Boston, known as Fairmont Copley Plaza. The $20 million project is mostly confined to the hotel's 384 guest bathrooms where crews will polish the marble flooring, regrout and seal the marble walls. The project is expected to be complete prior to the hotel's centennial celebration this summer. The hotel will remain open throughout the renovation.
BINGHAMTON, N.Y. — Homewood Suites by Hilton has opened a four-story hotel in Binghamton. The 79-room hotel is owned by Tom Bedosky and managed by JT LLC. Homewood Suites by Hilton Binghamton/Vestel offer studio, one- and two-bedroom suites. Guest amenities include an indoor pool, fitness center, sports court and nearby walking trails. Located at 3603 Vestal Parkway E., the hotel is minutes from Binghamton University campus and Lockheed Martin Owego.