MINNEAPOLIS — RockBridge Partners has purchased the University Hotel Minneapolis, a 304-room, full-service hotel. The new owner is planning a $14.8 million renovation and rebranding of the property. The project will begin this spring and include lobby enhancements, a new restaurant and lounge and an expanded fitness center. Guest rooms and corridors will also be refurbished. The hotel is the only full-service hotel on the University of Minnesota campus. Noble House Hotels and Resorts will manage the property.
DAVENPORT, FLA. — Marcus & Millichap has arranged the $2.12 million sale of the 104-room Quality Inn — Davenport, located at 43824 Hwy. 27 in Davenport. Ahmed Kabani of Marcus & Millichap's Miami office represented the seller, a limited liability company, in the transaction and procured the buyer, a private investor.
CORPUS CHRISTI — BLL Holdings has sold the 121-room Days Inn of Corpus Christi, located at 901 Navigation Blvd. in Corpus Christi, to Corpus Christi Hospitality in a cash transaction. The buyer plans on making capital improvements to the two-story hotel. Bryan Blanchard and Randy Lee of The Mumford Company's Dallas office represented the seller in the transaction.
ADDISON — The $3.5 million makeover of the 547-room Dallas/Addison Marriott Quorum has been completed. The renovation includes the creation of the Marriott Great Room, expanded meeting space at The Quorum Ballroom and the Blueprint meeting room, a new bar and restaurant (Addison Grill and Texas Food and Cocktails), a new We Proudly Brew Starbucks outlet, an upgraded front desk, a business center and retail space.
NATIONAL CITY, CALIF. — The Holiday Inn Express San Diego South has opened in National City, a suburb of San Diego. The hotel is owned by IHG and contains a 24-hour business center, fitness center and 750 square feet of meeting space.
BUDA — Aries Capital has secured a $4.8 million ground-up construction/permanent loan for the 83-room Microtel, located in Buda. Leonard Smith of Aries Capital's Houston office arranged the loan on behalf of the borrower, Longhorn Lodging Partners. The property will be managed by Caerus Hospitality Partners.
ALEXANDRIA, LA. — The 106-unit Econo Lodge Inn & Suites, located at 2716 N. MacArthur Dr. in Alexandria, has sold for an undisclosed price. Bryan Blanchard and Randy Lee of The Mumford Co.'s Dallas office represented the seller, Triad Hospitality, in the transaction. The buyer was Neptune Lodging Partners.
RICHMOND, VA. — The 53-room Econo Lodge Airport, located at 5408 Williamsburg Rd. in Richmond, has been sold. Sita Properties, the buyer, plans to renovate the hotel. David Mumford of Mumford Co.'s Newport News, Va., office, along with Steve Kirby of the firm's Atlanta office, represented Allen Management, the seller, in the transaction.
FORT WORTH — Homewood Suites by Hilton has opened a new four-story, 90-suite hotel, located at 6350 Overton Ridge Blvd. in Fort Worth. Platinum Hotels owns the hotel and Lodgestar Investments manages it. The new hotel features a fitness center, 24-hour business center, recreational activities and approximately 1,300 square feet of meeting space.
ATLANTA — Mandarin Oriental Hotel Group has signed a long-term management contract to rebrand and operate the 42-story The Mansion on Peachtree, located at 3376 Peachtree Rd. NE in Atlanta. The hotel includes 127 rooms, a restaurant and lounge, meeting rooms, a 130-seat ballroom, fitness center, a 14-room spa, a 60-foot indoor swimming pool and 25 private, luxury homes. Robert A.M. Stern designed the hotel, which will be rebranded as Mandarin Oriental, Atlanta, in May.