COARSEGOLD, CALIF. — McCarthy Building Companies Inc. has completed the construction of the $100 million Chukchansi Gold Resort & Casino expansion project in Coarsegold. The expansion includes a 13-story hotel tower offering 214 luxury rooms and suites, a full-service spa, an indoor/outdoor pool, a restaurant, an arcade and administrative offices. The guestrooms and suites feature larger-sized rooms, granite countertops, plasma televisions, fireplaces, separate seating areas and jetted tubs. The 9,000-square-foot Serenity Springs Spa offers locker rooms, saunas, steam rooms, massage rooms, lounges, a fitness area and a salon. The hotel also features a 70,000-gallon pool with a swim-up poolside bar, and Nativo’s, a 4,000-square-foot Italian restaurant. The resort now offers 406 rooms and suites. St. Louis-based Thalden-Boyd Architects provided architectural services for the expansion. The resort and casino is owned by the Picayune Rancheria of the Chukchansi Indians.
Hospitality
SAN MARCOS, TEXAS — Springfield, Mo.-based John Q. Hammons Hotels & Resorts is nearing completion for the new Embassy Suites San Marcos – Hotel, Spa and Conference Center, located in San Marcos. The $50 million project will include 283 suites and more than 80,000 square feet of flexible meeting space in a 10-story building. Hotel amenities include an open atrium with a water feature, a restaurant, an Internet café, a fitness center, an indoor pool, a sundeck and the company’s signature Spa Botanica. The hotel and spa will be privately owned by John Q. Hammons and managed by John Q. Hammons Hotels & Resorts. The conference center will be owned by the city of San Marcos and managed by John Q. Hammons Hotels & Resorts. The hotel is expected to open in October.
LOS ANGELES — Chicago-based Harp Group and its equity partners Fidelity Investments Real Estate Group and Blue Vista Capital Partners have acquired the fee simple interest in the Sheraton Gateway Hotel at Los Angeles International Airport for $97 million. Located on West Century Boulevard, the property offers 802 guestrooms, approximately 48,000 square feet of meeting space, and four food and beverage outlets, as well as a fitness center and pool. Jones Lang LaSalle Hotels represented the seller, Kor Hotel Group, in the transaction. Jones Lang LaSalle Hotels also secured $65 million in acquisition financing for the buyers.
KANSAS CITY, KAN. — Kansas Speedway and The Cordish Company (Kansas Entertainment LLC) have proposed a 1.5 million-square-foot Hard Rock Hotel & Casino, which would be located in Kansas City Speedway’s Turn 2, with strong visibility and access to Interstates 70 and 435. The facility will include a 300-room luxury hotel; a state-of-the-art casino with 3,000 slot machines and 140 gaming tables; 275,000 square feet of retail, dining and entertainment product, including a live music venue; and meeting and convention facilities. The project cost is estimated at more than $700 million. As part of the proposal, a temporary casino would be able to open within 8 months. Operating during construction, the temporary casino will include 2,000 slot machines and 75 gaming tables.
BILLERICA, MASS. — The grand opening has been held for the Courtyard by Marriott Boston Billerica hotel following a multi-million dollar renovation. The hotel, located at 270 Concord Rd. in Billerica, was previously known as the Wyndham Hotel Billerica, before being renovated and re-flagged under the Marriott brand. The eight story hotel features 210 rooms. Hotel amenities include a business library featuring individual workstations with high-speed data ports; the Fireside Grill restaurant and Fireside Lounge; a 24-hour convenience store; a lounge area; an indoor swimming pool; and a fitness center. Additionally, the hotel includes 4,300 square feet of meeting space. The hotel is owned by affiliates of Rockbridge and Pinnacle Hotel Management. Pinnacle also manages the property.
NEWPORT BEACH, CALIF. — George Mitsanas and Demetri Koston of Newmark Realty Capital Inc. have arranged permanent financing for the 25-acre Hyatt Regency Hotel in Newport Beach. Specific terms of the $20.75 million loan were not disclosed. The property includes a 405-room Hyatt Regency Hotel and corresponding amenities, including banquet and meeting facilities, a golf course, pools and restaurants. Newmark arranged the financing on behalf of a life insurance company.
TUCSON, ARIZ. — Apple REIT Eight has acquired the Hilton Garden Inn Tucson Airport in Tucson for an undisclosed price. Located at the gateway to the Tucson International Airport, the hotel offers 128 rooms. Additionally, the property is in close proximity to Pima Air & Space Museum, Kitt Peak Observatory, The Sonora Desert Museum, casinos, restaurants and downtown nightlife. The hotel was developed by the seller, Overland Park, Kan.-based Sunway Hotel Group, and opened in March 2008. Scott Griemsmann of NAI BT Commercial’s Hospitality Division represented the seller in the transaction.
OKEECHOBEE, FLA. — Vero Beach, Fla.-based Kite Properties recently broke ground on an 85-room Hampton Inn by Hilton at 1200 N.E. Park St. in Okeechobee, which is scheduled to open in July 2009. Orlando, Fla.-based Pinkerton & Laws will supervise construction, and Atlanta-based Hotel Equities, an equity partner in the hotel, will provide management services. Hampton Inn amenities include free wireless Internet, phones with data ports and free hot breakfast.
BRIDGEPORT AND MESQUITE, TEXAS — Marcus & Millichap has brokered two Texas hotel sales. The first property is a 53-unit La Quinta Inn & Suites located in Bridgeport. The limited-service hotel was recently constructed and opened in April. Ravi Mehta and Sanjeev Lad of the Fort Worth office of Marcus & Millichap represented the buyer, Mijar Kang, as well as the undisclosed seller. The acquisition price was not disclosed, but the property traded for 92 percent of the listing price. Mehta and Lad also brokered the sale of a 118-room Super 8 Motel located in Mesquite. The pair represented both undisclosed parties in the transaction. The acquisition price was not disclosed, but the property traded for 96 percent of the listing price.
JACKSONVILLE, FLA. — NorthMarq Capital’s Michael Padilla and Dimpesh Darjee have secured a $13.06 million first-rate mortgage for the 136-room Aloft Hotel in Jacksonville. Haven Trust Bank financed the 5-year loan, which came with a maximum interest-only period of 32 months and a 20-year amortization schedule.