BONITA SPRINGS, FLA. — Homewood Suites by Hilton has opened a new property in Bonita Springs. Located at 8901 Highland Woods Blvd., the four-story property offers 106 suites, a heated pool, a fitness center, high-speed Internet access and a 24-hour business center. The property is owned by IAS Hotel and managed by Guest Services.
Hospitality
BOSTON — CB Richard Ellis (CBRE) Hotels has completed the sale of Radisson Hotel Boston, a 358-room hotel located at 200 Stuart St. in Boston. The hotel features 20,000 square feet of flexible meeting space, two purpose-built auditoriums, two restaurants and a parking garage. The CBRE Hotels team of Dave McElroy and Scott Hutchinson represented the seller, John Philopoulos Associates. The buyer was Northwood Investors. The acquisition price was not disclosed.
NEW ROCHELLE, N.Y. — Chatham Lodging Trust has closed on the $21 million acquisition of the Residence Inn by Marriott in New Rochelle. The 10-story, 124-suite hotel is located at 35 LeCount Place. It features a fitness center, a swimming pool and structured parking. Island Hospitality Management, an affiliate of Lodging, will manage the hotel.
MINNEAPOLIS — Bethesda, Md.-based Pebblebrook Hotel Trust has acquired The Grand Hotel Minneapolis for $33 million in an all-cash transaction. Located in downtown Minneapolis, the 14-story hotel features 140 guestrooms, the 58,000-square-foot Life Time Athletic Club and Life Spa, more than 6,500 square feet of meeting space and Zahtar, a three-meal-a-day restaurant. The hotel will be managed by San Francisco-based Kimpton Hotels and Restaurants.
DALLAS — The Marriott brand has taken over management of the former 407-room Westin City Center in the Plaza of the Americas complex located at 650 N. Pearl St. in Dallas. The hotel will undergo a renovation during the next year with a remodeling of the guest rooms and a creation of a fitness facility that overlooks downtown. Oak Brook, Ill.-based Inland American Real Estate Trust owns the property and it's managed by Marriott International under a long-term agreement.
ATLANTA — Mumford Co. has brokered the sale of the former InHome Suites located at the interchange of Interstate 20 and Fulton Industrial Boulevard in Atlanta. The 105-suite property was vacant at the time of the sale. The buyer, Parthi Sai LLC, plans to extensively renovate the hotel and reopen it. Ed James of Mumford's Newport News, Va., office and Burton Brooks of the firm's Atlanta office represented the seller, Wells Fargo Bank, N.A.
ROANOKE RAPIDS, N.C. — Mumford Co. represented PVC Inc. in the disposition of Sleep Inn of Roanoke Rapids. A local investment group acquired the 114-room property for an undisclosed price. The buyer plans to renovate the hotel, which will retain the Sleep Inn franchise affiliation. David Mumford and Ed James of Mumford Co. represented the seller in the transaction.
WHITE PLAINS, N.Y. — Chatham Lodging Trust has closed on the acquisition of the Residence Inn by Marriott White Plains/Westchester County, a 133-suite hotel located at 5 Barker Ave. in White Plains. Hotel amenities include a business center, a restaurant and a fitness center. It will be managed by Island Hospitality Management. The hotel is the last to close out of a four-property portfolio Chatham has had under contract. The purchase price of the portfolio was $61 million, which includes the assumption of $12.5 million of debt. Since its IPO in April, Chatham has acquired 11 hotels and has two more under contract.
ARLINGTON, VA. — Mesa West Capital has funded a $16 million loan for the refinancing of Hotel Palomar in Arlington. The 154-room hotel is part of Waterview, a mixed-use project that offers 650,000-square-foot of office space and 133 residential condominium units. The hotel is owned by a partnership between The JBG Companies, CIM Group and Brookfield Properties, and is managed by Kimpton Hotels. Joe Donato and Matt Williams of CB Richard Ellis arranged the financing. Mesa West Capital provided the financing through its $614.5 million Mesa West Real Estate Income Fund II, which closed in June.
ROUND ROCK — Homewood Suites by Hilton has opened its 300th hotel in North America with the opening of its four-story, 115-suite hotel in Round Rock. Located at 2201 S. Mays St. directly off Interstate 35, it's the closest hotel to the world headquarters of Dell and is situated in a corporate campus area with many Fortune 500companies including Samsung, Texas Guaranteed, Sears Teletech, Teco Westinghouse and Dresser Wayne. The hotel is owned by VHRMR Round Rock, Ltd., managed by Vista Host, Inc., and its official grand opening will be held Thursday, Sept. 23.