FALMOUTH, MASS. — An investment fund managed by ING Clarion Partners has acquired Sea Crest Resort & Conference Center, a 23-acre, 266-room, oceanside resort located in Falmouth. The new owners plan to complete extensive, multi-phase renovations to the property. Guestrooms, conference facilities, the lobby and the landscaping will be upgraded. Longer-term plans call for the construction of a sports pub, a soda fountain and carry-out food area, and a poolside bar as well as the renovation of the resort's outdoor swimming pool. The first phase of renovations will be complete by June, with the entire renovation complete by June 2011. The seller's name and the acquisition price were not disclosed.
CUERO, TEXAS — A new Best Western hotel has opened in Cuero. The Best Western Park Heights Inn and Suites is located at 308 Park Heights Drive. It contains 52 guestrooms, including 23 suites. Amenities include an outdoor swimming pool, a fitness center, a 24-hour business center and meeting space for up to 15 people. The hotel is owned by Dipak Patel under a licensing agreement with Best Western International.
SAN ANTONIO — Construction has topped out for the Embassy Suites San Antonio Downtown – Riverwalk, a 285-suite hotel located at 125 E. Houston St. in San Antonio. The hotel will feature Luke, a brasserie restaurant operated by John Besh, as well as an environmentally friendly design and a cascading water element that will run from the lobby to the outdoor patio and into the San Antonio River. Completion is slated for August. Sam Friedman of Blanco Rio, Ltd. is the owner of the hotel, and Natchitoches, La.-based Dimension Development will be the operator. The general contractor is Zachry Construction. The new hotel marks the third Embassy Suites in San Antonio.
SAN ANTONIO — The grand opening will be held tomorrow for the new Acuity Hospital of South Texas in San Antonio. The long-term acute care hospital moved from its original location at South Texas Medical Center to a new facility located downtown at 718 Lexington Ave. The new building rises three stories and totals 34,000 square feet. It contains 30 private rooms, a six-bed High Observation Unit, radiology and laboratory facilities and a clinical pharmacy. Austin, Texas-based AcuityHealthcare is the owner of the hospital. Houston-based Professional Construction Services served as the construction management firm for the project, and construction financing was provided by SNB Bank.
EVANSTON, ILL. — Mesa West Capital has provided a $14.5 million loan to an affiliate of Greenfield Partners. The financing will be used for the recapitalization of the borrower’s existing loan on Orrington Hotel, a full service hotel in Evanston. The nine-story hotel offers 269 guestrooms, a 12,000-square-foot conference facility, 12,000 square feet of meeting and banquet space, a café, a restaurant, a bar and lounge and a fitness center. Jay Marshall of Holliday Fenoglio Fowler arranged the financing, which also included capital to convert the hotel to the Hilton brand. Additionally, the property includes a four-story, 178-car parking garage and four fully occupied retail spaces. Greenfield Partners will oversee the hotel conversion, while Magna Hospitality Group will provide hotel management services.
SAN ANTONIO — Bunkhouse Management has acquired the historic Havana Riverwalk Inn located on the San Antonio Riverwalk. The company is currently renovating the hotel and plans to reopen it in April. The 22,000-square-foot property originally opened in 1914 and is on the National Register of Historic Places. The seller's name as well as the acquisition price were not disclosed.
PLEASANTON, CALIF. — PKF Capital San Francisco has arranged the $12.3 million sale of the 170-room Sheraton Hotel located in Pleasanton. Converted to a Sheraton Hotel from a Wyndham Garden Hotel in 2006, the property features meeting and banquet space, a restaurant and lounge, and a Link Business Center. PKF Capital’s Henry Bose and Mark McDermott represented the seller, a Southern California-based fund manager. The buyer was Pleasanton Lodging LP, a partnership involving principals from Sethi Enterprises and Kapoor Enterprises.
GLEN ALLEN, VA. — Hasmukh Patel has opened the 62-room Best Western Glen Allen Inn at 8507 Brook Road in Glen Allen. The property features 18 suites, and amenities include an outdoor pool, a business center and a fitness center. Each unit comes equipped with a microwave, a refrigerator and two phones.
DUBLIN, VA. — Supertel Hospitality has sold a 99-unit Comfort Inn to Vrindavan Hospitality for an undisclosed amount. The Dublin hotel is located on more than 8 acres of land and features an on-site restaurant. A West Virginia community bank provided financing to the buyer, who plans on renovating the property. David Mumford and Ed James of Newport News, Va.-based The Mumford Co. represented the seller. During the past 10 years, Mumford Co. has represented Supertel in more than 30 transactions.
PALMDALE, CALIF. — Embassy Suites Hotels has opened the Embassy Suites Palmdale, featuring the brand’s first Design Option III Prototype build in the state of California. Located just off Interstate 14 at 39375 5th St. West in Palmdale, it features 150 suites and more than 3,000 square feet of meeting space. Owned by the Palmdale Lodging Associates LLC and managed by Sun Development & Management Co., the upscale, full-service property is the 30th Embassy Suites location in the Golden State. Just sixty miles north of Los Angeles, Embassy Suites Palmdale includes a state-of-the-art Precor fitness center, a pool and Fourteen Restaurant and Lounge.