Wednesday, February 4, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Hospitality

Waldorf-Astoria-Hotel-&-Residences-Miami
DevelopmentFloridaHospitalityLoansMultifamilySoutheastTop Stories

PMG Receives $668M Construction Loan for Waldorf Astoria Hotel & Residences Miami

by Taylor Williams

MIAMI — PMG, a development and investment firm with offices in New York City and Miami, has received a $668 million construction loan for the Waldorf Astoria Hotel & Residences Miami. Located at 300 Biscayne Blvd, the building will rise more than 1,000 feet and will house 387 private residences and 205 hotel rooms and suites, as well as retail and restaurant space. The latter component will include Peacock Alley, a concept that is part of the Waldorf Astoria band. The Waldorf Astoria is part of the Hilton Hotels (NYSE: HLT) family of brands. Christopher Peck, Chris Drew, Brian Gaswirth, Jimmy Calvo and Mateo Bolivar of JLL arranged the financing through Arkansas-based Bank OZK and New York City-based Related Fund Management on behalf of PMG. According to South Florida Business Journal, condo sales launched in 2021, and the formal groundbreaking took place in 2022. At the time of the loan closing, more than 90 percent of the residences had been pre-sold. Vertical construction of the property is slated for mid-2028 completion. Hotel guests and residents will have access to a shared suite of amenities. These will include: Residents of the Waldorf Astoria Hotel & Residences Miami can also utilize a …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 50-Room Hotel in Canadian, Texas

by Jeff Shaw

CANADIAN, TEXAS — Marcus & Millichap has brokered the sale of Canadian Courts Motel, a 50-room hospitality property located near Amarillo in northwest Texas. The motel offers complimentary breakfast and a meeting and event space that can accommodate up to 150 people. Allan Miller and Chris Gomes of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityNew HampshireNew JerseyNew YorkNortheast

Everhome Suites to Open Three New Hotels Totaling 334 Rooms in Northeast

by Taylor Williams

ROCKVILLE, MD. — Everhome Suites, which is part of the family of brands of Maryland-based owner-operator Choice Hotels International Inc., will open three new hotels totaling 334 rooms in the Northeast. The properties include a 106-room hotel in Portsmouth, N.H.; a 114-room hotel in Somerset, N.J.; and a 114-room hotel in Rochester, N.Y. All rooms will feature fully equipped kitchens. Construction of the hotels is underway, and the openings are scheduled for 2025.

Continue Reading
FacebookTwitterLinkedinEmail
Element-Hotel-Mission-Valley-San-Diego-CA
CaliforniaDevelopmentHospitalityWestern

Driftwood Capital Breaks Ground on 150-Room Element Hotel by Marriott in San Diego

by Amy Works

SAN DIEGO — Driftwood Capital, along with architect AO and general contractor R.D. Olson Construction, has broken ground on Element Hotel by Marriott in the Mission Valley submarket of San Diego. The seven-story, 150-room hotel will be located next to the existing full-service Marriott Hotel Mission Valley. The two hotels will share the pool amenity deck and restaurant space, while each maintaining its own entrance, lobby, lounge and other amenities. Slated for completion in winter 2026, the 98,000-square-foot hotel will feature a 5,300-square-foot conference and ballroom space, a fitness center, meeting rooms and a lobby/lounge, as well as shared exterior main and lounge area. Once completed, the hotel will comply with Title 24 energy and water use criteria, which is similar to LEED’s silver level. Additional project partners include Ficcadenti Waggoner and Castle as structural engineer, Kimley-Horn as civil engineer, RTM Engineering as MEP engineer and Linda Snyder Associates as interior designer.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityMarylandSoutheast

Marcus & Millichap Negotiates $10.2M Sale of Holiday Inn Express Hotel in Metro Baltimore

by John Nelson

OWINGS MILLS, MD. — Marcus & Millichap has negotiated the $10.2 million sale of an 86-room Holiday Inn Express & Suites hotel in Owings Mills, a northwest suburb of Baltimore. Jack Davis, Gordon Allred, Joce Messinger, Karianne Cibello, Zachary Walsh and Andy Patel of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity. Brian Hosey served as Marcus & Millichaps’ broker of record in Maryland for the deal. Built in 2018, the Holiday Inn Express is situated on a 5.7-acre site at 11509 Red Run Blvd. off I-795. The hotel features a fitness center, business center and meeting and banquet facilities.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityNew YorkNortheast

Northgate Real Estate Arranges $34.8M Bankruptcy Sale of Downtown Brooklyn Hotel Project

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Northgate Real Estate Group has arranged the $34.8 million bankruptcy sale of a hotel project in downtown Brooklyn that is roughly midway through construction. The 22-story building at 291 Livingston St., which is approved for 104 rooms, was sold via auction. Greg Corbin, Chaya Milworn and Felix Ades of Northgate handled the transaction on behalf of the undisclosed seller. The buyer was Midas Hospitality.

Continue Reading
FacebookTwitterLinkedinEmail
HospitalityLoansTexas

Lone Star PACE Provides $31M in C-PACE Financing for Houston Hotel

by Taylor Williams

HOUSTON — Lone Star PACE has provided $31 million in C-PACE financing for The Thompson, a 172-room hotel located within The Allen mixed-use development near downtown Houston. The hotel includes 34 suites and multiple onsite food-and-beverage concepts. Locally based developer DC Partners owns The Allen. Lone Star PACE partnered with lender Nuveen Green Capital to administer the financing. C-PACE (commercial property-assessed clean energy) financing allows commercial borrowers to obtain favorable loan terms in exchange for implementing eco-friendly devices and initiatives at their properties.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaHospitalitySoutheast

Whitestone, Shaner Purchase 275-Room Le Meridien Atlanta Perimeter Hotel

by John Nelson

DUNWOODY, GA. — A partnership between Whitestone Cos. and Shaner Hotels has purchased Le Meridien Atlanta Perimeter, a 275-room hotel in Atlanta’s Central Perimeter submarket. An affiliate of Starwood sold the hotel for an undisclosed price, according to multiple media outlets. Tim Osborne and Spencer Davidson of Hunter Hotel Advisors represented both parties in the all-cash transaction. Located in Dunwoody, Le Meridien is situated near Perimeter Mall and several prominent employers including State Farm and IHG. The hotel features a fitness center, outdoor swimming pool with cabanas, nearly 10,000 square feet of meeting space and shuttle service to local attractions, as well as signature restaurant Portico Global Cuisine. The hotel acquisition represents the fifth property that Whitestone and Shaner Hotels have jointly purchased.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityMidwestMissouri

Midas Hospitality Opens 96-Room TownePlace Suites Hotel in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Midas Hospitality has opened a TownePlace Suites by Marriott extended-stay hotel in Wentzville, a far west suburb of St. Louis. The 96-room property is located at 20 Cliff View Drive along I-70. The four-story hotel features a fitness center, guest laundry facilities, complimentary breakfast buffet, complimentary high-speed internet, a 10-person meeting room and outdoor patio area. CMC Construction was the general contractor, and Royal Banks of Missouri provided project financing.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsHospitalityTexas

Newcor Commercial Arranges Sale of Hotel Development Site in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Locally based brokerage firm Newcor Commercial has arranged the sale of a one-acre hotel development site at 500 Rayford Road in the northern Houston suburb of Spring. David Alexander and Josh Cheatham of Newcor represented the buyer, an entity doing business as Shree Rang Krupa of Texas LLC, which plans to develop a 60-room Studio 6-Extended Stay hotel on the site. Construction is expected to begin in the coming weeks and to be complete in early 2026. Gus Lagos of Marcus & Millichap represented the seller, Woodlands Warehouse LLC.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts