ALTAMONTE SPRINGS, FLA. — Jaimin and Niven Patel of Marcus & Millichap’s Tampa office have brokered Citi Hospitality LLC’s sale of the 263-room Holiday Inn Altamonte Springs, located at 230 W. Highway 436 in Altamonte Springs, to Jade Hospitality LLC for $9.5 million. The buyers will convert the property to the Clarion Hotel brand.
MILFORD AND ROCKLAND, MASS. — Atlanta-based Hodges Ward Elliott (HWE) has negotiated the sale of two Massachusetts hotels. The first is the 173-room Milford Sheraton Hotel located in Milford, and the second is the 127-room Rockland Radisson Hotel in Rockland. Linchris Hotel Corp. acquired both of the properties from Ashford Hospitality Trust, with HWE negotiating the transaction. The acquisition price was not disclosed.
PORTLAND, ORE. — InterContinental Hotels Group has opened Crowne Plaza Portland-Downtown, which is located at 1441 NE 2nd Ave. in Portland. The hotel is in the final stages of a $3 million conversion from a Holiday Inn. Renovations include a new lobby, new exterior paint, new furniture throughout the hotel, upgraded mattresses in the guestrooms and an upgraded bathroom package. The 10-story, 241-room hotel features a state-of-the-art fitness center, complimentary wireless high-speed Internet access, an indoor pool, a business center and complimentary airport shuttle, as well as a restaurant and lounge. The property is managed by Hollander Investments, under a license agreement with a company in the InterContinental Hotels Group.
ROCK HILL, S.C. — Cleveland-based Rock South has purchased the five-story, 162-room Hampton Inn Rock Hill from Catawba Hotel Associates for $17.4 million. The 70,000-square-foot building, which will retain its Hampton Inn brand, will undergo extensive renovations. Hotel amenities include more than 1,700 square feet of meeting and boardroom space, a fitness center and a pool. Anthony Falor of Hodges Ward Elliott’s focused service division brokered the transaction.
FORT LAUDERDALE, FLA. — Construction of Florida-based DYL Group’s 4.5-acre W Fort Lauderdale Hotel & Residences, located at 401 N. Fort Lauderdale Beach Blvd. in Fort Lauderdale, is scheduled for completion this fall. The property comprises 171 condos, ranging in size from 804 to 1,402 square feet, and 346 hotel rooms in separate 23-story towers. The property, which is the first W condominium hotel project in Florida, also features a restaurant, a nightclub and a spa.
ORLANDO, FLA. — Vertical construction on Apollo Real Estate Advisors and Houston, Texas-based Rida Development Corp.’s 1,400-room Hilton Orlando has been completed. The 19-story building, located at 6001 Canadian Court in Orlando, features 80,000 square feet of ballroom space, 21 meeting rooms and nine boardrooms. The property, which will open in the third quarter of 2009, will be the first hotel connected to the Orange County Convention Center.
ORLANDO, FLA. — Atlanta-based The First Fidelity Companies has arranged $300 million in financing for the 2,000-room Orlando World Center Marriott Resort & Conference Center. Located on more than 200 acres across from Disney World’s Epcot Center at the intersection of Interstate 4 and State Route 535 in Orlando, the property features more than 450,000 square feet of meeting and event space. The loan was placed on behalf of Host Hotels & Resorts with an undisclosed life insurance company.
VERO BEACH, FLA. — Vero Beach-based Kite Properties LLC has broken ground on its 83-room SpringHill Suites by Marriott development in Vero Beach. Orlando, Fla.-based Pinkerton & Laws will oversee construction, and Atlanta-based Hotel Equities will manage the property. Hotel amenities include free wireless Internet, HDTV and phones with data ports. SpringHill is expected to deliver in July 2009.
CAPTIVA ISLAND, FLA. — George Powell of NorthMarq Capital’s Miami Lakes, Fla., office recently arranged $12 million in first mortgage financing for the 137-room Tween Waters Inn on Captiva Island. Financing for the 35-year-old hotel was arranged through Security Life of Denver Insurance Co. Captiva Island-based Rochester Resorts was the borrower.
PHILADELPHIA — Starwood Hotels & Resorts Worldwide will hold the grand opening of its 136-room aloft Philadelphia Airport hotel in August. The hotel features loft-inspired guestrooms with 9-foot ceilings and oversized windows. Room amenities include a platform bed, large bathrooms, and a high-tech office and entertainment center featuring plug-and-play access to a flat-panel television. The hotel will feature a communal area and bar, a fitness center, and an indoor pool. The project was designed by David Rockwell of The Rockwell Group. Starwood is licensing the aloft brand from W Hotels.