LAFAYETTE, LA. — Homewood Suites by Hilton has opened a four-story, 129-room hotel at 201 Kaliste Saloom Rd. in Lafayette. The property is owned by KS Hotel Associates and managed by Dimension Development Co. Homewood Suites by Hilton Lafayette-Airport offers studio, one- and two-bedroom suites and features a 24-hour on-site pantry, fitness center, outdoor pool with hot tub and gazebo, tennis court, 24-hour executive business center, outdoor grills and approximately 3,400 square feet of flexible meeting space.
WAUWATOSA, WIS. — CB Richard Ellis has brokered the $2.6 million sale of the 72,887-square-foot Wauwatosa Days Inn and Bluemound Gardens Restaurant & Bar, located at 11811 W. Bluemound Ave. in Wauwatosa. Andy Stefanich of the firm's Milwaukee office represented the seller, George and Efthimia Graves, and Jennifer Green with Lannon, Wis.-based Commercial Realty Advisors represented the buyer, Lexington Hotel Development Group.
NEW YORK CITY –– Marriott is scheduled to open the Fairfield Inn & Suites hotel in Brooklyn this July. The hotel is located at 181 Third Ave. and will operate as a Marriott franchise. Freud Third Avenue Properties owns the location, which will be managed by Marshall Hotels & Resorts. The hotel offers 2,600 square feet of meeting space to host seminars, business meetings and private functions upwards of 75 people.
ORANGE — Marcus & Millichap Real Estate Investment Services announces sale of a Hampton Inn site, a 68-room hospitality location. Eric Guerrero, Michael Yu and Rahul Bijlani of Marcus & Millichap’s Houston office represented both the buyer, a private investor, and the seller, a partnership. The Hampton Inn site is located at 2080 Interstate 10 West. The list price on the location was $5.95 million.
INDIANAPOLIS — Indianapolis-based Flaherty & Collins Properties has commenced the $8.2 million redevelopment of the former south tower of the Sheraton Hotel in downtown Indianapolis into luxury apartments. The former hotel's 160 rooms, located on floors three through 12, will be converted into 129 apartments ranging in size from 487 to 1,225 square feet. The building will contain two-story units on the 11th and 12th floors. Monthly rents will range from $800 to $1,550. Amenities will include a swimming pool, rooftop sundeck, a fitness center, room service and valet parking. The first units will be delivered this fall. CSO Architects is the project architect. The building is located within Keystone at the Crossing, a 2.35 million-square-foot mixed-use development.
BOSTON — Chesapeake Lodging Trust has secured a $95 million, fixed-rate loan for the 498-room Hyatt Regency Boston, located in Boston. The 5-year loan has a 30-year amortization schedule and was provided by Goldman Sachs Commercial Mortgage. The financing will be used to repay outstanding borrowings under the company's revolving credit facility and for general business purposes.
NEW YORK CITY – Hersha Hospitality Trust has signed an agreement to acquire the 175-room Hyatt Union Square Hotel in New York City for $104.1 million after the seller completes construction. The four-star hotel is expected to open in 2012 and will feature a destination lobby bar, rooftop lounge, private terraces, a fitness facility and a pool. Consideration to the seller included the assumption of two mortgage loans totaling $55 million that were secured by the buyer. Hersha will manage the hotel upon completion of the acquisition.
SAN DIEGO – HFF has closed the sale of two San Diego-based hotels, the Holiday Inn Express Mission Bay and the Comfort Inn National City. HFF marketed the properties on behalf of C-III Asset Management, LLC, which acted as a special servicer for the selling trusts. RNM Hospitality purchased the 87-room Holiday Inn Express, while Excel Hotel Group bought the 91-room Comfort Inn. HFF's team was led by managing director Holden Lim and director Zack Holderman.
NORTH CHARLESTON, S.C. — The Generation Companies has topped out the Home2 Suites by Hilton located near the Charleston International Airport in North Charleston. The 122-room extended stay hotel is slated to open in late 2011.
MIAMI BEACH, FLA. — A joint venture between Bethesda, Md.-based Urgo Hotels and Washington, D.C.-based The Carlyle Group has purchased the 75-room Blue Moon Hotel and the 71-room Winterhaven Hotel, both in Miami Beach, for $26.7 million. Both properties will undergo renovations, which will upgrade public spaces and all guest rooms. Jordan Ray of Mission Capital Advisor's New York office represented the buyer in the transaction, placing the debt with a regional bank.