DENVER — Red Lion Hotels Corp. has acquired the Renaissance Hotel Denver Southeast for $25.3 million. Located along Interstate 225, the hotel has been re-named the Red Lion Hotel Denver Southeast. The hotel features 25,000 square feet of meeting space, a two-story parking garage, a swimming pool, a business center, a 120-seat restaurant and a 50-seat lounge. Red Lion plans to invest $8 million on renovations for the property.
CLEVELAND — Terry O’Brien of Washington-based Molinaro Koger has arranged the sale of the 213-room Holiday Inn Cleveland-East, Ohio, on behalf of Ridgehills Hotel. The hotel, which features an indoor pool, more than 8,000-square-feet of meeting space, and two food and beverage outlets, was acquired by Inn at the Wickliffe for an undisclosed price. The buyer plans to manage the facility and execute an extensive renovation to capture increased market shares.
GRAPEVINE, TEXAS — Turner Construction has topped out construction of the expansion of Great Wolf Lodge – Grapevine, an indoor water park and resort located at 1400 Highway 26 in Grapevine. The expansion will add 203 guest suites to the resort, bringing the total up to 605 upon completion. The expansion also will bring the resort’s meeting space to 27,000 square feet, comprising a 7,500-square-foot ballroom, six meeting rooms, two board rooms, more than 4,000 square feet of pre-function space and six outdoor event areas. Completion is scheduled for December.
FLORIDA, TENNESSEE AND NORTH CAROLINA — Sonnenblick-Eichner has arranged $60 million in financing for a seven property hotel portfolio in Florida, Tennessee and North Carolina on behalf of Cooper Hotels. The portfolio includes Crowne Plaza Fort Myers, Florida; Doubletree Memphis, Doubletree Murfreesboro, Doubletree Jackson, Doubletree Oak Ridge, and Doubletree Johnson City, all in Tennessee; and Homewood Suites Charlotte, North Carolina. The five-year, interest-only facility was priced at 250 bps. over Libor.
SAN ANTONIO — Development is under way for San Antonio’s second Hotel Indigo, located at 830 N. St. Mary’s on the San Antonio Riverwalk. Construction will consist of the conversion of a former Hawthorne Suites. Amenities at the 149-suite hotel will include a fitness center, a 24-hour business center, two meeting rooms, an outdoor pool with a courtyard patio and wireless Internet access throughout the hotel. The hotel is owned by RW Hotel Associates, and will be managed by Trans Inns Management through a license agreement with Atlanta-based InterContinental Hotels Group. Kraemer Design Group is serving as project architect. Completion is scheduled for this fall.
SUISUN CITY, CALIF. — Basin Street Hospitality, a division of Petaluma, Calif.-based Basin Street Properties, has broken ground for the construction of a Hampton Inn & Suites hotel in Suisun City. Located at Harbor Center Drive, the hotel will feature 102 rooms, an outdoor pool and spa, meeting rooms, complimentary hot breakfast, complimentary high-speed Internet access, flat-screen televisions, and the Hampton 100 percent satisfaction guarantee. Completion is slated for summer 2009.
NEW YORK CITY — McSam Hotel Group has acquired 6 Water St. in Manhattan, New York City for $56 million. The 8,300-square-foot site fronts three streets and will allow for 125,000 buildable square feet. The buyer plans to develop a 30- to 40-story boutique hotel at the site, which is also known as 32-38 Pearl St. Peter Hauspurg, Alan Miller, Jeffrey Troy, David Johnson and Ronda Rogovin of Eastern Consolidated represented the seller, Water & Pearl Land LLC/Water & Pearl Partners LLC, and Miller and Johnson procured the buyer in the transaction.
AVENTURA, FLA. — Starwood Hotels & Resorts Worldwide is breaking ground on aloft Aventura Hotel, a $50 million property that will be developed and owned by joint venture partners Cabi Aventura Hotel, a subsidiary of Mexico-based GICSA, and Aventura Development. The hotel will feature 215 rooms and 5,000 square feet of meeting space. The property is located at 2777 N.E. 185th Street, near South Beach and the Miami International Airport. Construction is slated to complete next fall.
CHARLOTTE, N.C. — SNS Hospitality has purchased Country Inn & Suites Charlotte, a 100-room hotel located in the University City area of Charlotte, from Philadelphia-based GF Management, for an undisclosed amount. The property features an indoor/outdoor swimming pool and 31 one-bedroom suites. Ros Mallory of Jones Lang LaSalle’s Charlotte office and Mark Fair and Al Calhoun of its Atlanta office were the sole brokers in the transaction and exclusively represented the seller.
PHILADELPHIA — Wachovia Bank has provided $50 million in financing for the redevelopment of the Architect’s Building located in Center City Philadelphia. Klimpton Hotels & Restaurants is redeveloping the building into The Hotel Palomar, a luxury 230-room boutique hotel. The hotel will feature amenities such as a ground-floor restaurant and bar, 6,500 square feet of meeting space and a 650-square-foot fitness center. The hotel is set within the Rittenhouse Square neighborhood at 117 S. 17th St., which offers a wide variety of shopping, dining and cultural activities for tourists. The hotel is scheduled for completion in late 2009.