NEW ORLEANS — The 170-room Hyatt Place New Orleans/Convention Center, located at 881 Convention Center Blvd. in New Orleans, has reopened following an $8 million renovation. The hotel was formerly known as Hotel New Orleans. A joint venture between HRI Properties and Interwest Capital Corp. purchased the property in July 2011 and renovation work started in the third quarter of 2011. The hotel includes more than 3,300 square feet of meeting space, as well as a Kitchen Skillet complimentary breakfast area and the Intimate Bakery Cafe, which features specialty coffees, premium beers, wines and cocktails.
SAN ANTONIO — BC LYND Hospitality, a joint venture between San Antonio-based LYND and BC Commercial Partners, has purchased the historic St. Anthony Hotel, a 103-year-old, 352-room hotel located at 300 E. Travis St. in downtown San Antonio. The hotel is listed as a National Historic Landmark. BC LYND is planning a $24 million renovation of the hotel that will include a new brand affiliation (Starwood Luxury Collection), new decor, updated meeting and function spaces, a new restaurant and a rooftop bar. IBC Bank provided debt financing for the acquisition and renovation of the hotel. Bill Stadler and John Bourret of HFF represented the seller, Berkadia , in the transaction.
DAYTONA BEACH, FLA. — NorthMarq Capital has arranged $3.56 million in first mortgage refinancing for the 122-room Residence Inn by Marriott, a limited service hotel located at 1725 Richard Petty Blvd. in Daytona Beach. Robert Hernandez of NorthMarq's Tampa office arranged the 10-year loan with a 25-year amortization schedule on behalf of the borrower, Oceanside Two LLC, through a CMBS lender.
HERMISTON, ORE. – A 55-unit Best Western in Hermiston has received $3.17 million, which will be used to refinance the property. The hotel is located at 2255 South Highway 395. The long-term, fixed rate loan was provided by Premier Capital Associates.
NEW BRAUNFELS — Marcus & Millichap has arranged the sale of a 62-room Comfort Suites, located at 1489 Interstate Highway 35 N. in New Braunfels. Allan Miller of Marcus & Millichap's Austin office, along with Chris Gomes of the firm's Dallas office, represented the seller, a limited liability company, in the transaction. Gomes procured the buyer, a private investor.
NEW ORLEANS — The 254-room Hyatt French Quarter, located at 800 Iberville St. in New Orleans, has reopened. The hotel recently underwent an $18 million renovation, which included upgrades to the guest rooms, as well as the hotel exterior, lobby, landscaping, pool and deck area decor. Additionally, newly designed food and beverage outlets include bodega-inspired market Powdered Sugar and an upscale lounge called Batch. The Hard Rock Cafe also recently signed a 10,000-square-foot lease at the hotel. The restaurant is slated to open in early 2013. A joint venture between Carey-Watermark Investors and HRI Properties owns the hotel.
NEW ORLEANS — The 111-room Dauphine Orleans Hotel, located at 415-420 Dauphine St. in New Orleans' French Quarter, has received $10 million in financing. Johnson Capital and CRCapital Advisors arranged the 10-year loan with a 25-year amortization schedule through a CMBS lender. The non-recourse debt was used to pay off existing recourse bank debt.
PECOS — Marcus & Millichap has arranged the sale of a 97-room Quality Inn, located at 4002 S. Cedar St. in Pecos. Allan Miller of Marcus & Millichap's Austin office, along with Chris Gomes of the firm's Dallas office, represented the seller, a California-based private investor, in the transaction. Gomes procured the buyer, a Dallas-based private investment fund.
DALLAS — Dallas-based BMC Capital has provided a $3.75 million loan to refinance a 102-room La Quinta Suites, located in Dallas. Jim Tennial of BMC arranged the 3- to 5-year loan with a 25-year amortization schedule.
ELYRIA, OHIO — Elyria Hotels Inc., a regional hotel owner and operator, has acquired the 248-room Ramada Inn Elyria Ohio for $1.1 million. The hotel includes a restaurant, lounge and more than 10,000 square feet of meeting space. The new owner plans to keep the property under the Ramada brand and begin renovations to the guest rooms and public areas. Ed James and Lance Potter of Mumford Co. represented the seller, an institutional entity, in the transaction.