AMELIA ISLAND, FLA. — TRT Holdings/Omni Hotels has completed its acquisition of Amelia Island Plantation, following a late August bankruptcy auction bid against Starwood Capital and Noble Investment Group. The company acquired the north Florida beach resort for $67.1 million or $269,478 per room. Located 29 miles north of Jacksonville International Airport, the 1,350-acre property offers 249 guestrooms, 54 holes of championship golf, a tennis center, a spa and 50,000 square feet of meeting space. Amelia Island Plantation retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code.
WALTHAM, MASS. — HEI Hotels & Resorts has launched a $14 million renovation and repositioning project for the DoubleTree Guest Suites Boston/Waltham. Renovations to the eight-story, 275-room hotel will include the remodeling of all guestrooms, a redesign of the hotel's restaurant and lounge, enhancements to its 8,000 square feet of meeting space and a redesign of the entrance. In addition, HEI will switch flags within the Hilton family of hotels from DoubleTree to Embassy Suites. The construction timetable was not released.
SANTA ROSA, CALIF. — Retail West has presided over the short sale of the former Los Robles Lodge, located on 3.54 acres adjacent to and south of Coddingtown Mall in Santa Rosa, to Codding Enterprises. Terms of the deal were not disclosed, but the property was listed for $3.7 million. Retail West’s Matt Holmes and Dean Copans represented both the buyer and seller in the all-cash transaction. According to the brokerage team, Codding, an experienced retail operator, plans to raze the lodge structures and redevelop the property.
BOSTON — Fantini & Gorga has secured $39.7 million in first-mortgage financing for the Radisson Hotel Boston. Located at 200 Stuart St. in the city's Theater District, the hotel contains 358 guestrooms as well as a 750-space parking garage. Amenities include meeting space, a fitness center and an indoor pool. Other features of the hotel complex include two restaurants, Theater Café and Rustic Kitchen, and the 480-seat Stuart Street Playhouse. Tim O'Donnell and George Fantini of Fantini & Gorga arranged the loan through the lender, Citizens Bank. JPA Management, an affiliate of the hotel's developer and owner, manages the property.
CHAMPAIGN, ILL. — St. Louis-based Midas Hospitality has acquired the Candlewood Suites Champaign in Champaign. Located near the University of Illinois campus, the 83-room hotel is set to open in December. The property will offer high-speed Internet access, free local phone calls, free on-site guest laundry and a 24-hour fitness center. Guestrooms will feature studio or one-bedroom suite floorplans with a full kitchen, a recliner, and a large workspace with a desk chair and overhead lighting. Terms of the acquisition were not disclosed.
NEW YORK CITY — DiamondRock Hospitality Co. has acquired the Hilton Garden Inn Chelsea New York City for $68.4 million. The 169-room hotel is located in Manhattan's Chelsea neighborhood on West 28th Street, between 6th and 7th avenues. DiamondRock acquired the hotel at a 7 percent capitalization rate and expects it to generate more than 20 percent RevPAR growth this year with an average daily room rate of more than $200. The seller's name was not released.
DAYTONA BEACH, FLA. — Stephan Taylor of Hunter Realty has represented the owner in the sale of two hotels to a private party for an undisclosed price. The properties, Palm Plaza Oceanfront Resort and Beachside Inn Daytona Beachshores, are adjoining properties that span 130 rooms. The hotels are located in Daytona Beach. The buyer will convert the Palm Plaza to a Holiday Inn Express.
LAFAYETTE, LA. — A Utah-based financial institution has sold a former Quality Inn to an undisclosed party for $1.54 million. The 105-room property, which was built in 1993, is located at 2216 NE Evangeline Thruway in Lafayette. Marcus & Millichap's Jaimin Patel and Jonathan Ruprai represented the seller in the transaction. The firm's William Hoffpauir also assisted in closing the deal.
COLLEGE STATION — JER Partners has sold the 303-room Hilton College Station to an affiliate of Encore Enterprises for an undisclosed amount. Located at 801 University Drive East, the property includes more than 28,000 square feet of meeting space. The seller has made more than $3 million in improvements to the property since 2004, and the buyer is planning a comprehensive renovation.
PHILADELPHIA — LaSalle Hotel Properties has acquired two Philadelphia hotels from HEI Hotels & Resorts. The first property is the Westin Philadelphia, an 18-story hotel located at 99 S. 17th St. Amenities include a business center, a fitness center, an indoor pool, a sauna, 17,424 square feet of meeting space and the Citygrange restaurant. The second property is the Embassy Suites Philadelphia – Center City. Amenities at this hotel include a business center, an indoor swimming pool, meeting space and a T.G.I. Friday's restaurant. Hodges Ward Elliot brokered the deal between the two parties. HEI will continue to provide management services.