ROANOKE RAPIDS, N.C. — Mumford Co. represented PVC Inc. in the disposition of Sleep Inn of Roanoke Rapids. A local investment group acquired the 114-room property for an undisclosed price. The buyer plans to renovate the hotel, which will retain the Sleep Inn franchise affiliation. David Mumford and Ed James of Mumford Co. represented the seller in the transaction.
WHITE PLAINS, N.Y. — Chatham Lodging Trust has closed on the acquisition of the Residence Inn by Marriott White Plains/Westchester County, a 133-suite hotel located at 5 Barker Ave. in White Plains. Hotel amenities include a business center, a restaurant and a fitness center. It will be managed by Island Hospitality Management. The hotel is the last to close out of a four-property portfolio Chatham has had under contract. The purchase price of the portfolio was $61 million, which includes the assumption of $12.5 million of debt. Since its IPO in April, Chatham has acquired 11 hotels and has two more under contract.
ARLINGTON, VA. — Mesa West Capital has funded a $16 million loan for the refinancing of Hotel Palomar in Arlington. The 154-room hotel is part of Waterview, a mixed-use project that offers 650,000-square-foot of office space and 133 residential condominium units. The hotel is owned by a partnership between The JBG Companies, CIM Group and Brookfield Properties, and is managed by Kimpton Hotels. Joe Donato and Matt Williams of CB Richard Ellis arranged the financing. Mesa West Capital provided the financing through its $614.5 million Mesa West Real Estate Income Fund II, which closed in June.
ROUND ROCK — Homewood Suites by Hilton has opened its 300th hotel in North America with the opening of its four-story, 115-suite hotel in Round Rock. Located at 2201 S. Mays St. directly off Interstate 35, it's the closest hotel to the world headquarters of Dell and is situated in a corporate campus area with many Fortune 500companies including Samsung, Texas Guaranteed, Sears Teletech, Teco Westinghouse and Dresser Wayne. The hotel is owned by VHRMR Round Rock, Ltd., managed by Vista Host, Inc., and its official grand opening will be held Thursday, Sept. 23.
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.