VIENNA, VA. — Jones Lang LaSalle Hotels, on behalf of Prudential Real Estate Investors, has completed the disposition of Embassy Suites Tysons Corner, a full-service hotel located in Vienna. HEI acquired the property for an undisclosed price. The 234-room hotel features 220 two-room king guest suites, 1,720 square feet of flexible meeting space, a state-of-the-art fitness center, an indoor swimming pool, Carnevale Café and a lobby lounge.
Hospitality
MARS, PA. — Travis Fite and Peter Dunn of Marcus & Millichap have arranged $5.62 million in financing for the Comfort Inn Cranberry Township in Mars. Located at 824 Sheraton Dr., the hotel contains 103 guestrooms. The loan was provided through a commercial mortgage lender at a 6.5 percent interest rate and a 75 percent loan-to-value ratio. It is fixed with a 10-year term and a 30-year amortization schedule.
BETHESDA, MD. — Donohoe Construction Co. has begun construction on the Hilton Garden Inn Bethesda, located on Waverly Street in Bethesda. The hotel, with 216 rooms, as restaurant and lounge, a fitness center, a pool, a business center and meeting space, will be the new centerpiece of the Air Rights Center, a 715,000-square-foot complex of three office towers complemented by retail space, structured parking and restaurants. Upon completion in late 2009, Donohoe Hospitality Services will manage the hotel. Brennan Beer Gorman & Monk is serving as the project architect.
MINNEAPOLIS — A partnership between Rosemont, Ill.-based First Hospitality Group and Minneapolis-based Global One Commercial has broken ground for the construction of the Hilton Garden Inn Downtown Minneapolis & Convention Center, a 210-room hotel located at 1101 Fourth Ave. South in Minneapolis. The 10-story building features more than 3,000 square feet of meeting space, as well as a fitness center, an indoor pool and spa, a full-service restaurant and bar, and a 24-hour business center. All rooms feature complimentary wireless Internet access and high-definition, flat-screen televisions.
CLAYTON, MO. — McLean, Va.-based Sunrise Senior Living and Conrad Properties have partnered up for the renovation of Clayton on the Park, a 23-story hotel and apartment building located at 8025 Bonhomme Ave. in Clayton, into a senior living community. The renovated building, which will retain the original name, will comprise 208 apartments divided into studio, one-, two-, and three-bedroom units ranging in size from 600 to 1,800 square feet. Amenities will include a fitness and wellness center, a spa, a library, a theater, a bar and bistro, and a rooftop gathering spot. Residents will also have access to a community concierge, on-site housekeeping and linen service, transportation services, health alert systems, and coordinated in-home wellness services.
THE WOODLANDS, TEXAS — Jones Lang LaSalle Hotels has arranged the sale of The Woodlands Waterway Marriott Hotel & Convention Center in The Woodlands. The Woodlands Development Company sold the property to Inland. Features of the hotel include a fitness and health club, a heated outdoor pool, a whirlpool and hot tub, and an on-site, full-service spa called Urban Retreat. The property also features 70,000 square feet of meeting space with a 37,180-square-foot exhibition hall and an 18,000-square-foot ballroom. Jones Lang LaSalle Hotels arranged the transaction on behalf of the seller.
DALLAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $114.4 million non-recourse construction loan for The Tower Residences at the Ritz-Carlton in Dallas. The Tower Residences, which comprises a 23-floor, 96-unit tower and four townhomes, is the second phase of The Ritz-Carlton hotel and condominium development underway at 2121 McKinney Ave. near Dallas’ central business district, the Arts District, Victory Park and Uptown. Scott Galloway, Trey Morsbach and John Ahmed with HFF worked on behalf of Fort Worth, Texas-based Crescent Real Estate Equities to secure the 36-month, adjustable-rate loan through Societe Generale. Completion is set for 2009.
BLUFFTON-HILTON HEAD ISLAND, S.C. — Sarasota, Fla.-based American Hotel Development and partner N.Y. based-Glenmont Capital broke ground on a $12 million, 124-room Hilton Head Candlewood Suites on Bluffton-Hilton Head Island. The extended-stay project will feature studios and one- and two-bedroom suites. The hotel is located on U.S. Route 278, seven miles east of the entrance to Sun City Hilton Head, and is slated to open this summer.
BRANDON, FLA. — Embassy Suites Hotels has opened a 147-suite hotel at 10220 Palm River Rd. in Brandon, near Tampa, Fla. The property is owned by Whiteco Industries and is operated by White Lodging. The hotel offers 3,000 square feet of meeting space, a swimming pool and spa, an on-site fitness center and a 24-hour business center.
STERLING, VA. — Construction is complete on the Hampton Inn & Suites Washington-Dulles Airport. The five-story property features 170 rooms and approximately 3,000 square feet of meeting space. Amenities include wireless Internet access, an indoor pool, a fitness center and a business center. The property is located two miles from the Dulles International Airport and a variety of local attractions.