NORCROSS, GA. — Marcus & Millichap has brokered the sale of the Country Inn & Suites in Norcross. Located at 5970 Jimmy Carter Blvd., the 51-room property sold for $1.36 million. The hotel was built in 1999 and upgraded in 2007. Jonathan Ruprai and John Leonard of Marcus & Millichap brokered the transaction. Terms of the sale were not released.
HOUSTON — The Westin Memorial City is officially opening this week on March 24. Bounded by Interstate 10 and Gessner Road in Houston, the 570,000-square-foot hotel features 267 guest rooms including 25 suites; more than 30,000 square feet of meeting and banquet space; and an 18th floor infinity pool with panoramic views of Houston's skyline. The hotel also features the Trattoria II Mulino restaurant from the creators of II Mulino New York in New York's West Village. The Westin Houston Memorial City is the Westin brand's third property in Houston and is part of the Memorial City Complex featuring three Starwood brands, which include the Four Points Houston Memorial City and the Sheraton Houston West.
REEDSBURG, WIS. — Belmont LLC has acquired the Super 8 hotel in Reedsburg for an undisclosed price. The buyer plans to upgrade the property, which will remain a Super 8. The 49-unit, interior corridor hotel offers themed suites and tanning beds. Lance Potter of The Mumford Company represented the undisclosed New York-based seller in the transaction.
HARRISBURG, PA. — The grand opening has been held for the Best Western Premier The Central Hotel and Conference Center in Harrisburg. Located at 800 E. Park Drive, the hotel contains 174 guest rooms, including three suites, as well as 15,000 square feet of meeting and banquet space. Amenities include an on-site restaurant and lounge, a fitness center, a heated indoor swimming pool and a business center. This marks the sixth Best Western Premier hotel to open in North America.
ROANOKE RAPIDS, N.C. — Desi Brothers Investments has acquired the Best Western in Roanoke Rapids for an undisclosed price. Accessible from Interstate 95, the 100-room hotel transaction included an onsite restaurant facility, which the buyer plans to renovate and reopen. Ed James and Steve Kirby with The Mumford Company represented the seller, Nationwide Properties, in the transaction.
CHESAPEAKE, VA. — Jay Mahalaxmi LLC has purchased the Super 8 Motel in Chesapeake. The buyer plans to renovate the three-story, 58-room hotel, which will continue to be a Super 8. David Mumford of The Mumford Company's Newport News, Va., office represented the undisclosed seller in the transaction. Terms of the transaction were not released.
ATLANTA — Thayer Lodging Group is under contract to acquire Hotel Palomar Atlanta-Midtown, which is located at 866 W. Peachtree St. NW, from WP Partners. Concurrent with acquisition, the 21-story, 304-room hotel will be rebranded as The Renaissance Atlanta Midtown Hotel, within the Marriott International lifestyle portfolio. Renaissance will operate the hotel upon closing of the acquisition. The hotel features 10,000 square feet of flexible meeting space and a 1,000-square-foot fitness center.
DALLAS — Holliday Fenoglio Fowler (HFF) has arranged a refinancing for the Magnolia Hotel, a 29-story, 329-room hotel in Dallas’ central business district. HFF worked exclusively on behalf of borrower, Magnolia Hotels, to secure the 10-year fixed-rate loan through JP Morgan Chase Bank, N.A. Built in 1921, the property served as the headquarters for Mobil Oil’s predecessor, Magnolia Petroleum Co., until 1997 when it was renovated into the Magnolia Hotel. Dan Peek, Travis Anderson and John Bourret of HFF represented the borrower. Denver-based Magnolia Hotels is a privately held hotel management and development company.
THE WOODLANDS — Research Hotel Partners, L.P. has purchased a 4.3-acre site at the intersection of Research Forest Drive and Grogan's Mill Road for the construction of a Hyatt Place Hotel in The Woodlands, a 28,000-acre master-planned community located 27 miles north of downtown Houston. New Horizons Hospitality will develop the hotel, which will include 150 guestrooms and suites along with 6,000 square feet of meeting space. Construction is expected to begin later this year, with the opening planned for mid 2013. Todd Edmonds and Cody Christoph of Colliers International represented The Woodlands Development Company. New Horizons Hospitality also developed and owns the Hilton Garden Inn in The Woodlands Town Center.
ARLINGTON AND TEXARKANA — Hunter Realty has represented the undisclosed sellers of three separate hotel sales, including the Hampton Inn & Suites Dallas/Arlington South in Arlington, the Hampton Inn & Suites Texarkana in Texarkana and the Hampton Inn & Suites Pine Bluff in Pine Bluff, Ark. The aggregated price of the three hotels was $26 million. “These are premium branded properties in 'like-new' condition with an average age under 3 years old, which means they will require minimal product improvement plan investments,” said Teague Hunter, president of Hunter Realty, in a statement.