DALLAS — A 364-room Holiday Inn Select North Dallas, located at 2645 LBJ Freeway in Dallas, has been sold. The 217,789-square-foot, two-tower hotel features 14,223 square feet of meeting space and an indoor/outdoor atrium pool. Hank Wolpert of Colliers International's Dallas office represented the seller, LNR Property, in the transaction.
JACKSONVILLE, N.C. — A new 105-room Home2 Suites by Hilton, located at 139 Circuit Ln. in Jacksonville, has opened. Amenities include an indoor saline swimming pool and scenic walking trail, as well as complimentary breakfast. This is the second Home2 Suites in North Carolina. Onslow Hospitality built the property, and LBA Hospitality will manage it.
BRAINTREE, MASS. — A 204-room Hyatt Place hotel will open its doors in Braintree on May 15. The Hyatt Place Boston/Braintree is located 12 miles outside of Boston at the intersection of Routes 95 and 128. The project will also include a 32,000-square-foot building for retail and restaurants, and another 6,000-square-foot retail building. The building is slated to roll out later this summer. The new hotel includes a fitness center and five meeting spaces. Carpenter & Co. developed the property, while Cambridge Seven Associates provided the architectural services. Interstate Hotels & Resorts Worldwide will manage the hotel.
ROSLYN, WASH. – A joint venture between Lowe Enterprises and Suncadia Grand Avenue Partners, LLC, a subsidiary of a fund managed by Oaktree Capital Management L.P., has assumed ownership of the Suncadia Resort in Roslyn. The 6,300-acre resort features the 254-room Lodge at Suncadia, the Glade Springs Spa, privately-owned residences and three golf courses, among other amenities. The new joint venture and its subsidiaries will own all aspects of the resort, which includes the real estate, hospitality operations, recreational facilities and utility company.
CHICAGO — Lowe Enterprises Investors, on behalf of an investment client, has acquired the 28-story Affinia Chicago Hotel from Denihan Hospitality Group. Concurrent with the sale, Destination Hotels & Resorts will take over the hotel management and implement the property's rebranding as “MileNorth, a Chicago Hotel.” The name was inspired by the property's location one block from North Michigan Avenue, also known as the Magnificent Mile. The 213-room hotel includes 3,000 square feet of meeting space and a ground-floor restaurant. Eastdil Secured represented the seller in the transaction. Lowe was represented in-house.
BOSTON — Hersha Hospitality Trust has agreed to acquire the 80-room Bulfinch Hotel in Boston for $18.2 million, or $228,000 per hotel room. Hersha plans to invest $2.5 million in the hotel to upgrade guest rooms and improve the fitness and business amenities. The hotel is located in Boston's West End, within walking distance of Beacon Hill and the North End. The acquisition is expected to close later this month.
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.
