FORT WORTH, TEXAS — Jones Lang LaSalle (JLL) Hotels has completed the sale of the Radisson Fort Worth South on behalf of Allegiance Hospitality. Chhatrala Hotels purchased the six-story property, which comprises 247 guestrooms, an indoor pool, a fitness center, a business center, a restaurant and 11,000 square feet of meeting space.
MIAMI BEACH, FLA. — Soho House is developing Soho Beach House Miami, a $32 million, 83,000-square-foot hotel/condo complex. The project will consist of renovating the seven-story art deco-style Sovereign Hotel and building a 16-story addition for the residential component. At completion the project will have 44 hotel rooms and 23 residential units. Features of the property will include a spa, a swimming pool, a restaurant, two outdoor bars, a wine room and private rooftop sunbathing decks. The project is slated to complete in 2009. Ft. Lauderdale, Fla.-based Moss & Associates is the general contractor.
TEMPLE TERRACE, FLA. — Chattanooga, Tenn.-based 3H Group has acquired an 83-room Fairfield Inn & Suites in Temple Terrace, from Maryland-based Baywood Hotels, for $7.5 million. Jaiman Patel and Niven Patel of Marcus & Millichap’s Tampa, Fla., office represented the seller, and Jaiman also represented the buyer, along with Jeffrey Solenberger, of the same office.
QUINCY, ILL. — The 97-room Holiday Inn Quincy has opened at 4821 Oak St. in Quincy. The three-story hotel totals 71,853 square feet and includes 4,500 square feet of space for group events. Hotel amenities include an indoor pool and whirlpool, a business center, wireless Internet access, a 24-hour fitness center and two restaurants. The project was developed and is owned by Duane Venvertloh and Steve Brink, both of Quincy.
ANDERSON, S.C., AND KANNAPOLIS, N.C. — Home-Towne Suites has acquired two Mainstay Suites hotels in Anderson and Kannapolis, from David Drye Co., for a total of $6.4 million. In Anderson, the hotel property features 79 rooms, a swimming pool and a business center. In Kannapolis, the hotel features 80 rooms and a business center. Ed James of The Mumford Company’s Newport News, Va., office, Tom Sommer of its Chicago office and Steve Kirby of its Atlanta office were the sole brokers in the sales transaction and exclusively represented the seller. The buyer intends to renovate the properties for operation as core brand products.
LINCOLNWOOD, ILL. — A joint venture between Inland Real Estate Acquisitions and TMK Development has acquired the former Purple Hotel, located at the intersection of Touhy and Lincoln avenues in Lincolnwood, for redevelopment. The hotel, which closed in 2007, will be demolished to make way for a mixed-use development named Legacy Place. Initial plans for the project include 100,000 square feet of restaurant and retail space, 40,000 square feet of office space, a 350-room boutique hotel, more than 200 residential units, a health club and a premium movie theater. Legacy Place will also include a fountain and a monument that will incorporate bricks from the Purple Hotel’s façade. Construction is expected to begin in 2009.
GUNNISON, ORE. — Pennbridge Capital has acquired the Holiday Inn Express Hotel & Suites in Gunnison from Teco Corp. for an undisclosed price. Located on Tomichi Avenue, the hotel, which was built in 2006, offers 84 standard rooms and 23 suites. Josh Lewis of Lee & Associates LA North/Ventura Inc. was the sole broker involved in the transaction and arranged the acquisition on behalf of the buyer.
ORLANDO, FLA. — Vista Hospitality has acquired SunSpree Resort by Holiday Inn, a 507-room, 10-acre property in Orlando, from Miami-based LNR Property Corp., for an undisclosed amount. The resort features a swimming pool, fitness center, meeting space, an arcade, four restaurants and the Bikini Bottom Theatre. Ali Baheri of Molinaro Koger’s Washington, D.C. office was the sole broker and exclusively represented the seller. Vista will manage the hotel and retain the Holiday Inn Resort flag. The resort is located along State Route 535 near the Walt Disney World Resort.
BURBANK AND OCEANSIDE, CALIF. — Irvine, Calif.-based R.D. Olson Development has completed the disposition of two Southern California hotels to Apple REIT 8 for $80 million. The transaction consists of the five-story, 166-room Marriott Residence Inn located at 321 S. First St. in Burbank, and the four-story, 125-room Marriott Residence located at 3603 Ocean Ranch Blvd. in Oceanside. R.D. Olson recently developed the properties after acquiring the sites in 2005 and 2006.
BATON ROUGE, LA. — Viking Hospitality Fund is developing a $15 million, 142,876-square-foot Springhill Suites by Marriott in Baton Rouge. The four-story property will feature 119 rooms. Construction is slated for completion early next year. Amenities include a swimming pool and exercise room. The hotel will be located at 7980 Howell Blvd., near Baton Rouge Metropolitan Airport. Viking is a joint venture of Dallas-based Prism Hotels & Resorts, Cambridge,Wis.-based Telemark Hotel Developers and Atlanta-based Hotel Assets Group. Springhill Suites is the first development project for the partnership. Prism will manage the property.