TEWKSBURY, MASS. — The Washington D.C. metro office of Molinaro Koger (MK) has negotiated the sale of the Residence Inn Boston Tewksbury/Andover, a 130-suite extended stay hotel located in the Boston suburb of Tewksbury. Andy Kern of MK represented the seller, Lion ES Hotels II. The property was acquired by Tewksbury Residence Inn Hotel Associates for an undisclosed amount. The buyer subsequently signed a long-term franchise agreement with Marriott International to continue operation of the hotel as a Residence Inn. Lighthouse Point, Fla.-based Pinnacle Hotel Management was signed to provide management services.
SAVANNAH, GA. — Sarasota, Fla.-based American Hotel Development Partners has broken ground on a Holiday Inn Express Inn & Suites located at 11325 Abercorn St. in Savannah. The 88-room facility, which is being constructed near Armstrong Atlantic State University and Hunter Army Airfield, will cost $9 million to complete. Upon completion in the first quarter of 2009, the Holiday Inn Express Savannah will be managed and operated by Harris Hotel Group.
NORWALK, CONN. — CB Richard Ellis (CBRE) Capital Markets has arranged $22 million in acquisition financing for the DoubleTree Hotel located at 789 Connecticut Ave. in Norwalk. The eight-story, 265-room hotel features a full-service restaurant and lounge, a ballroom with 6,200 square feet of meeting space, a 24-hour fitness center with an indoor pool, a shuttle service, on-site car rental, valet dry cleaning and laundry service, and a three-story parking garage. Additional amenities include wireless Internet access, rooms with standard king or double queen beds, and suites with Jacuzzi tubs. The loan carries a 7.07 percent fixed interest rate, a 5-year term with a 25-year amortization schedule, and a 70 percent loan-to-value ratio. Financing was arranged by Keith Braddish and Jason Gaccione of the New York City office of CBRE Capital Markets through a life insurance company.
FRANKLIN, WIS. — InterContinental Hotels Group has announced plans to build a five-story, 78,000-square-foot Straybridge Suites located at 9527 South 27th St. in Franklin. The $10 million facility, which is slated for completion in the first quarter of 2009, will house 114 suites and four meeting rooms ranging from 200 to 680 square feet in size. Amenities at the hotel include an indoor pool, 24-hour business center and complimentary guest laundry center. Additionally, InterContinental Hotels Group is developing two Staybridge Suites in Milwaukee and Oconomowoc, Wis., which are slated for completion in the fourth quarter of this year and the third quarter of 2009, respectively.
MADISON, WIS. — On behalf of Wisconsin Inns, David Macdonald of NAI MLG Commercial has brokered the sale of Rodeway Inn, a 50,000-square-foot facility located at 4916 East Broadway in Madison. Aspire Equities has acquired the hotel for $2.79 million. Included in the transaction was an adjacent 3.4-acre vacant parcel. Aspire Equities plans to redevelop the property as a mixed-use project.
WARNER ROBINS, GA. — On behalf of Sojourn Associates WR, the Mumford Co. has arranged the $2.77 million sale of the Comfort Inn & Suites of Warner Robins, which is located at 95 S. State Route 247 near the Warner Robins Air Force Base. The 77-unit property was acquired by Ojash Shah, who will renovate the facility before operating the hotel as a Comfort Inn & Suites. David Mumford of the Mumford Cos. headquarters in Newport News, Va., as well as Steven Kirby and Burton Brooks of the firm’s Atlanta office represented the seller.
JOLIET, ILL. — CG Schmidt has been selected to construct an approximately $18 million expansion for the Autobahn Country Club located at 3795 South Patterson Rd. in Joliet. The facility, which sits on 350 acres, is a traditional private club that has replaced golfing with car racing as its most popular amenity. The expansion project will include a new clubhouse, restaurant, hotel, speed pavilion and condos. The new pavilion houses 23 hotel rooms on the second floor and 13 condos on each of the third and fourth floors. Completion is slated for October 2009.
LAKELAND, FLA. — Andy Kern of Molinaro Koger’s Washington, D.C., office has arranged the sale of the Lakeland Hampton Inn & Suites on behalf of Platinum Ridge Florida LLC. The 117-room facility was acquired by Greenbelt, Md.-based Columbia Hospitality for an undisclosed price. Based on a long-term franchise agreement with Hilton Hotels Corp., the building will remain a Hampton Inn & Suites, and will be managed by Baywood Hotels.
ORLANDO, FLA. — InterContinental Hotel Group (IHG) has announced plans to convert the Lexington Orlando CityPlace into the Orlando market’s fourth Crowne Plaza hotel. Located off Interstate 4, the 14-story Crowne Plaza Orlando-Downtown is expected to open this summer. The hotel, which houses 227 rooms, will be owned and managed by S&L Hospitality. Amenities at the facility include 6,500 square feet of meeting space for business functions and special events, Crowne Plaza Sleep Advantage, 50 king suites, and a District Five Restaurant and Lounge.
FRISCO, TEXAS — Courtyard by Marriott will construct the first of its new mid-rise prototype hotels at Frisco Market Center, an 88-acre, master-planned development located in the Dallas suburb of Frisco. The 150-unit hotel will be located along Main Street facing the Dallas North Tollway. The new concept is known as Go Marriott, and will include a lobby with a front desk in pods rather than a long desk, environmentally friendly operations, a GoBoard touch-screen information system, wireless technology, hi-definition televisions and three food service options. The hotel also will include 5,000 square feet of meeting space, a pool, an exercise area and a connection to the Frisco Market Center trail system. Groundbreaking is scheduled to occur later this year, with completion expected in late 2009.