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

Hospitality

DevelopmentHospitalityIndustrialMixed-UseMultifamilyNew JerseyNortheastRetailTop Stories

Clarion, MRP Industrial Break Ground on Final Phase of Burlington Center Mall Redevelopment in New Jersey

by John Nelson

BURLINGTON TOWNSHIP, N.J. — A partnership between industrial development firms Clarion Partners and MRP Industrial has started construction on the final phase of The Crossings, a redevelopment of the former Burlington Center mall located in the Philadelphia suburb of Burlington Township. The last phase comprises 500 multifamily units, including affordable housing options, that are set to open in late 2025. The new apartments will cap a six-year effort by Clarion Partners and MRP to transform the 800,000-square-foot enclosed regional mall into a mixed-use destination. In addition to the planned multifamily component, The Crossings will feature more than 2.5 million square feet of warehouse and distribution space, approximately 135,000 square feet of retail space and a 153-room hotel at full build-out. Clarion Partners and MRP expect The Crossings to support 1,400 new jobs at full capacity, including 900 in the warehouse sector and 500 in retail and hospitality. Moonbeam Capital Investments, the Las Vegas-based owner of the former Burlington Center mall, assisted in the redevelopment efforts. “The Crossings was made possible by the cooperation of Burlington Township and County elected officials, who recognized the opportunity to transform a blighted shopping mall into an integrated, vibrant and economically viable mixed-use development that …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 40-Room Hotel in Channelview, Texas

by Taylor Williams

CHANNELVIEW, TEXAS — Marcus & Millichap has brokered the sale of the 40-room Palace Inn Channelview hotel on the eastern outskirts of Houston. Rajan Patel, Chris Gomes, Allan Miller and Skyler Cooper of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The team also procured the buyer, a private investor. Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityTexas

TMG Negotiates Sale of 130-Unit Hospitality Property in Holly Lake Ranch, Texas

by Taylor Williams

HOLLY LAKE RANCH, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of a 130-unit hospitality property in Holly Lake Ranch, a census-designated area located about 100 miles east of Dallas. Holly Lake Resort spans 100 acres and features one- and two-bedroom cabins with an average size of 708 square feet. Amenities include a restaurant, movie theater, activity center with a game room, fitness center, fishing piers, pools, a minigolf course and tennis, pickleball and basketball courts, as well as access to kayaking, canoeing and hiking trails. Jon Krebbs of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityTexas

Club Quarters Completes 70-Room Apartment Hotel in Downtown Houston

by Taylor Williams

HOUSTON — Club Quarters Hotels, an owner-operator of boutique hospitality properties, has completed a 70-unit apartment hotel in downtown Houston. Rusk House Serviced Apartments offers studio, one- and two-bedroom units that feature living rooms complete with sofas, as well as desks, dining areas, fully equipped kitchens and bathroom amenities. Guests also have access to onsite dining, housecleaning and laundry services. Rates start at $199 per night.

Continue Reading
FacebookTwitterLinkedinEmail
FloridaHospitalityLoansSoutheast

Colliers Arranges Refinancing for 352-Room EAST Miami Hotel

by John Nelson

MIAMI — Colliers’ Hospitality Practice Group has arranged the refinancing for EAST Miami Hotel, a 352-room hotel located in Miami’s Brickell district. The property is part of Swire Properties’ $1 billion Brickell City Centre development, which features more than 500,000 square feet of shops and restaurants. EAST Miami Hotel opened in 2016 and features meeting rooms, a fitness center, multiple pools and several dining options. Mark Owens of Colliers arranged the refinancing on behalf of the borrowers, Trinity Investments and Certares Management. The financing amount and capital source were not disclosed, but multiple media outlets report that Deutsche Bank and KSL Partners provided the debt totaling $185 million.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaHospitalityTop StoriesWestern

Henderson Park Acquires Arizona Biltmore Luxury Resort in Phoenix for $705M

by Kristin Harlow

PHOENIX — Henderson Park, an international private equity real estate firm, has acquired the Arizona Biltmore resort in Phoenix. Blackstone Real Estate sold the asset for $705 million. The 705-room luxury hotel recently underwent a substantial renovation. Originally opened in 1929, the property is situated on 39 acres and is located about 10 miles from the Phoenix Sky Harbor International Airport. Amenities include more than 200,000 square feet of meeting space, seven swimming pools, multiple food-and-beverage outlets and a 28,000-square-foot spa. Pyramid Global Hospitality, a hotel management company with which Henderson Park previously acquired the La Quinta Resort in Palm Springs in 2021, will serve as the hotel manager for the Arizona Biltmore. Morgan Stanley, along with Deutsche Bank and JPMorgan, provided a $460 million commercial mortgage to finance the acquisition. The resort purchase was completed through funds managed by Henderson Park, including a commitment from Cincinnati-based Western & Southern Financial Group Inc. and its real estate arm, Eagle Realty. “This transaction presents a rare and compelling opportunity to acquire a historic but newly refurbished hotel in one of the country’s premier hospitality markets, and to both immediately capitalize on accelerated performance and to further enhance the resort’s offering into …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 68-Room Hotel in Midland, Texas

by Taylor Williams

MIDLAND, TEXAS — Marcus & Millichap has brokered the sale of the 68-room Quality Inn Midland hotel in West Texas. The property offers amenities such as a hot breakfast bar and dining area, indoor pool, meeting room, business center, guest laundry facilities and a fitness center. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured a Texas-based limited liability company as the buyer. Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
Hampton-Inn-Boston-Peabody
AcquisitionsHospitalityMassachusettsNortheast

Hunter Hotel Advisors Negotiates Sale of Two Boston-Area Properties Totaling 205 Rooms

by Taylor Williams

PEABODY, MASS. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the Hampton Inn and Homewood Suites Boston Peabody, two adjacent properties totaling 205 rooms that are located on the northeastern outskirts of Boston. Spencer Davidson and Sophia Pittaluga of Hunter Hotel Advisors represented the seller, an undisclosed institutional investment firm, in the transaction. The buyers were both affiliates of regional owner-operator Giri Hotel Management. The sales price was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
HospitalityIllinoisLoansMidwest

Cronheim Hotel Capital Arranges $15.4M Loan for Refinancing of Hyatt Place Hotel in Chicago

by Kristin Harlow

CHICAGO — Cronheim Hotel Capital (CHC) has arranged a $15.4 million loan for the refinancing of the Hyatt Place Chicago South University Medical Center. A Southeast-based bank provided the nonrecourse financing, which features a floating interest rate. David Poncia of CHC arranged the financing on behalf of the borrower, a joint venture between Smart Hotels and the Olympia Cos., the original developers of the hotel and current operators. The property is located at 5225 S. Harper Ave.

Continue Reading
FacebookTwitterLinkedinEmail
Sheraton-Dallas-Hotel
HospitalityLoansTexas

Driftwood Capital Provides $30M Mezzanine Loan for Sheraton Dallas Hotel

by Taylor Williams

DALLAS — Driftwood Capital, a Miami-based lender, has provided a $30 million mezzanine loan for the refinancing of the 1,841-room Sheraton Dallas Hotel. Built in 1959, the recently renovated hotel is located at 400 Olive St. in the downtown area and features 230,000 square feet of meeting and event space and five onsite restaurants in addition to standard hospitality amenities. The two-year, floating-rate loan includes three one-year extension options and supplements a $270 million senior loan provided by Goldman Sachs and JP Morgan Securities. The sponsor is San Francisco-based Chartres Lodging Group.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts