DES MOINES, IOWA — DoubleTree by Hilton has opened the newly renovated, 100-room DoubleTree by Hilton Des Moines Airport. Formerly a Radisson, the hotel is owned and operated by Heart of America Group under a franchise agreement with a subsidiary of Hilton Worldwide. Guest rooms at the full-service hotel feature new carpeting, window treatments, furniture and bedding. The property also features a new lobby lounge. The hotel is adjacent to the Des Moines International Airport.
AURORA, OHIO — Marcus & Millichap has arranged the sale of Aurora Inn & Conference Center, a 69-room hotel in Aurora. The full-service hotel was built in 1962 and is located at 30 East Garfield Road. Amenities include an indoor and outdoor pool, hot tubs, courtyards, tennis courts and a restaurant. Jonathan Ruprai of Marcus & Millichap represented the seller, a financial institution, in the transaction. He also represented the buyer, a limited liability company.
DEWEY BEACH, DEL. — Dewey Beach Enterprises (DBE) has resumed construction on phase one of its Ruddertowne redevelopment project, following years of legal battles. According to local reports, several property owners took issue with the height of some of the proposed buildings and the approval process Dewey Beach undertook in granting permits for the project. A Chancery Court ruled in favor of the developer in August. DBE is constructing a Hyatt Place Hotel and luxury condominiums, known as The Residences of Ruddertowne. The first phase of the project is expected to be complete prior to the 2013 summer season.
ASHEVILLE, N.C. — Starwood Hotels & Resorts has opened the 115-room Aloft Asheville Downtown, located at 51 Biltmore Ave. in Asheville. The property features 1,800 square feet of outdoor meeting space on its Air Level pool deck and The Ledge observation deck, as well as 649 square feet of indoor meeting space. It is the 60th hotel globally for Starwood.
PERRYVILLE, MD. — Mumford Co. has arranged the sale of the 104-room Ramada Inn, located off Interstate 95 in Perryville. The buyer plans to complete cosmetic upgrades and a repositioning of the property to Days Inn. Justin Pinkard, Steve Kirby and Ed James of Mumford Co. represented the seller, a privately held real estate group, in the transaction. The buyer was a New York-based lodging operator.
EWING, N.J. — Hersha Hospitality has purchased the remaining 50 percent interest in a 130-room Courtyard by Marriott in Ewing, a submarket of Princeton. Philadelphia-based Hesha has been part of an unconsolidated joint venture in the hotel since 2004. The company has repaid the first mortgage and entered into a $9 million revolving line of credit for the property. The deal entitles Hersha to all profits and losses from the hotel as of the third quarter of 2012.
JACKSON, MISS. — American Real Estate Capital (AREC) has negotiated a $16 million loan secured by the fee simple interest in the 276-room Hilton Jacksonville, located in Jackson. The hotel features 27,000 square feet of meeting space. AREC arranged the three-year loan with two, one-year extension options.
KING OF PRUSSIA, PA. — A new $30 million full-service hotel is slated to open this fall at 480 North Gulph Rd. in King of Prussia. The Sheraton Valley Forge will feature 180 guest rooms, 25,000 square feet of meeting space and a 10,000-square-foot ballroom. The property will also include a landscaped courtyard, pool, outdoor fire pit, fitness center and a complimentary shuttle. Philadelphia-based Wurzak Hotel Group owns the property.
CONROE AND SAN ANTONIO — Marcus & Millichap has arranged the sales of a 123-room Motel 6 at 820 Interstate 45 S. in Conroe and a 113-room Motel 6 at 9503 N. Interstate 35 in San Antonio. Michael Yu, Rahul Bijlani, Eric Guerrero and Tyler Bean of Marcus & Millichap's Houston office represented the seller, ACCOR North America, in both transactions. A Houston-based investor purchased the Conroe motel and an investor from Texas purchased the San Antonio motel.
HOLLYWOOD BEACH, FLA. — CBRE Group has arranged the sale of the 52-room Driftwood on the Ocean and a 12-unit apartment property, located in Hollywood Beach, for $8.7 million. Property Markets Group purchased Driftwood on the Ocean, a hotel with condominium development approvals located at 2101 S. Surf Road, for $7.6 million. CBRE Group represented Dupont Hollywood LLC, the seller, in the transaction. A foreign investor purchased the apartment community, located at 335 Georgia St., for $1.1 million. Jeff Cohen of EWM represented the buyer in the transaction and CBRE Group represented the seller, a private individual.