SAN DIEGO – HFF has closed the sale of two San Diego-based hotels, the Holiday Inn Express Mission Bay and the Comfort Inn National City. HFF marketed the properties on behalf of C-III Asset Management, LLC, which acted as a special servicer for the selling trusts. RNM Hospitality purchased the 87-room Holiday Inn Express, while Excel Hotel Group bought the 91-room Comfort Inn. HFF's team was led by managing director Holden Lim and director Zack Holderman.
NORTH CHARLESTON, S.C. — The Generation Companies has topped out the Home2 Suites by Hilton located near the Charleston International Airport in North Charleston. The 122-room extended stay hotel is slated to open in late 2011.
MIAMI BEACH, FLA. — A joint venture between Bethesda, Md.-based Urgo Hotels and Washington, D.C.-based The Carlyle Group has purchased the 75-room Blue Moon Hotel and the 71-room Winterhaven Hotel, both in Miami Beach, for $26.7 million. Both properties will undergo renovations, which will upgrade public spaces and all guest rooms. Jordan Ray of Mission Capital Advisor's New York office represented the buyer in the transaction, placing the debt with a regional bank.
EAGLE RIVER, WIS. — Hotel Source Inc. has brokered the sale of the Days Inn located at 844 Railroad St. in Eagle River. The hotel features an indoor swimming pool, a hot tub and a sauna. The Hotel Source team of Seth Glickman and Steve Marx arranged the deal between the two undisclosed parties.
LITCHFIELD, CONN. — Elkins Park, Pa.-based Optimum Hotel Brokerage has closed the sale of the 32-unit Litchfield Inn, a boutique hotel in Litchfield, for $2.08 million. Joseph McCann of Optimum was the exclusive broker. In addition to the hotel’s 32 guest rooms, the hotel features more than 4,000 square feet of ballroom facilities and a full service restaurant and tavern. The buyer is planning a complete renovation of the guest rooms.
NEW YORK CITY — RFR is scheduled to take over the Paramount Hotel located in Times Square at West 46th Street in New York City. The transaction is scheduled to close in late 2011. RFR is known for recapitalizing and rebranding high quality assets, and this transaction follows suit.The 597-room Paramount Hotel's most recent renovation, in 2009, cost nearly $40 million.
NEW YORK CITY — A 50,000-square-foot development site located in New York City has been sold to Fortuna Realty Hotel SoHo for $12.75 million. The buyer plans to construct a 124-room hotel on the site. Alan Miller, Roberto Ortiz and Paul Nigido of New York City-based Eastern Consolidated represented the seller, Patriot 523 Greenwich St., LLC, and procured the buyer.
BLOOMINGTON, MINN. — Welsh Companies and The Ramkota Companies will hold the ribbon cutting ceremony this week for the new Best Western Plus Bloomington Hotel at the Mall of America. The two companies, through affiliates, acquired the hotel, formerly a Days Inn, in 2008 and launched a renovation, which was completed by Genesis Architecture and Welsh Construction. The new hotel features 211 guest rooms and suites, meeting space for up to 280 people, a fitness center, and a family-friendly water play land.
NORTON, KAN. — Choice Hotels International has opened a new Sleep Inn hotel in Norton. The hotel is the first to open with the brand's new prototype design. Features of the Sleep Inn include a stone façade with a signature tower, a modern lobby design, and guestrooms with media boards and spa-like bathrooms.
SAN FRANCISCO — The Hotel Opal will become San Francisco's first Hampton Inn once its new owner, Wolff Urban, completes the 167-room conversion. The renovation will include a complete overhaul of the hotel's exterior, as well as some interior upgrades.