BOSTON — Felcor Lodging Trust has acquired the Fairmont Copley Plaza hotel in Boston for $98.5 million. The hotel is located on Copley Square in the city's Back Bay neighborhood. It contains 383 guestrooms, 23,000 square feet of meeting space, and a restaurant and bar. The seller, Fairmont Hotels & Resorts, will continue to manage the property. Kevin Mallory of CB Richard Ellis Hotels led the brokerage team that represented the seller.
Hospitality
ANN ARBOR, MICH. — RockBridge Partners, an affiliate of RockBridge Capital, has acquired a 197-room, full-service Sheraton hotel in Ann Arbor. RockBridge plans to complete a comprehensive $8 million renovation on the property and convert the hotel from a Four Points by Sheraton to the flagship Sheraton brand. The renovation will begin in December with completion expected in May 2011. The property will receive upgrades to the exterior façade, a full renovation of the public areas, an expansion of the fitness center and enhanced meeting space. Additionally, the guestrooms will be refurbished with upgraded bedding and a soft and case goods package. Amenities include a full-service restaurant and bar, an indoor/outdoor pool, a fitness center, a business center and more than 16,000 square feet of meeting space. Terms of the acquisition were not released.
BRIDGETON, MO. — Fairwood Capital LLC has purchased Embassy Suites St. Louis-Airport for an undisclosed price. Located at 11237 Lone Eagle Dr. in Bridgeton, the 159-room hotel features a business center, 4,000 square feet of meeting space, an indoor swimming pool, a fitness center and a restaurant. Fairwood plans to renovate the hotel’s guest suites and public areas. When completed, the renovated two-room guest suites will feature the Embassy Essentials Bedding Collection, flat-screen HD televisions, coffee makers and high-speed wireless Internet access. Memphis, Tenn.-based Maximum Hospitality will assume day-to-day operations of the property.
MIAMI BEACH, FLA. — Sunstone Collins has purchased the 409-room Royal Palm Hotel in an online auction through the Miami Dade Clerk of Courts for $126.1 million. Jones Lang LaSalle Hotels arranged the foreclosure sale for a court-appointed receiver. The resort hotel is located at 1545 Collins Ave. in Miami Beach and is within walking distance to the Miami Beach Convention Center. Amenities at the property, which was built in 2002, include two outdoor pools, a fitness center, four meeting rooms and a restaurant.
SAN DIEGO — Chatham Lodging Trust has signed a $32 million contract to acquire an upscale, extended-stay hotel in north San Diego in an all-cash transaction. Upon completion of the acquisition, the hotel REIT’s 13th property purchased or under contract in the past 4 months, the property will be managed by Island Hospitality Management.
WOODWAY — Best Western has opened an 82-room hotel in Woodway. The Best Western Atrea Colonnade Parkway, which is located near Providence Hospital, is a prototype aimed at business travelers. Features include three conference rooms, an indoor pool and spa, a fitness center and a cocktail lounge. This is the 28th Atrea hotel the company has built in the United States since the prototype was announced in 2007.
SANTA BARBARA, CALIF. — Recordan Real Estate Development LLC has purchased an approximately 15,000-square-foot hotel building, located at 117-121 State Street in Santa Barbara, from First-Citizens Bank & Trust Co. for an undisclosed amount. Hagelis Group’s Rob Devericks and Prudential California Realty’s Mitch Stark represented the buyer in the foreclosure sale, and Scott Glenn of Radius Group represented the bank.
NEW ROCHELLE, N.Y. — Chatham Lodging Trust has agreed to acquire the Residence Inn by Marriott – New Rochelle for $21 million. The 10-story, 124-suite hotel is located at 35 LeCount Place in New Rochelle. It features a fitness center, a swimming pool and a parking garage. Upon completion of the deal, the hotel will be managed by Chatham affiliate Island Hospitality Management. This transaction represents the 12th property property acquired or put under contract by Chatham since its April initial public offering.
GRANDVILLE, MICH. — First Hospitality Group has re-opened Residence Inn Grand Rapids West in Grandville. Located at 3451 Rivertown Point Court SW, the three-story, 90-room hotel recently underwent a $3 million renovation. The hotel now features contemporary guest suites with new carpet, beds, vanities, sofas, tables, wall coverings, dining tables, lighting and stainless steel appliances. Hotel amenities include an outdoor swimming pool and sports court that features a fire pit and built-in gas grill, a business center and an expanded complimentary breakfast and dining area.
HOLTSVILLE, N.Y. — Chatham Lodging Trust has acquired the Residence Inn by Marriott – Long Island for $21.3 million. Located at 25 Middle Ave. in Holtsville, the hotel contains 124 suites. Amenities include a fitness center, an indoor swimming pool and an outdoor sports court. Island Hospitality Management, an affiliate of Chatham, will manage the property. The seller's name was not disclosed.