KANSAS CITY, MO. — Hunter Hotel Advisors has negotiated the sale of the Fairfield Inn & Suites Kansas City Downtown Union Hill for an undisclosed price. Located in Kansas City’s Union Hill neighborhood, the 115-room hotel is within walking distance of the Federal Reserve Bank of Kansas City and one mile from Union Station. Lee Hunter and Spencer Davidson of Hunter brokered the sale. True North Hotel Group sold the property to an institutional buyer.
FRANKLIN, TENN. — McHugh Construction has delivered the Inn and Spa at Southall, a 325-acre luxury farm resort in the south Nashville suburb of Franklin. The approximately 95,000-square-foot property features 62 guest rooms, an executive boardroom, 15,000-square-foot spa, an all-day restaurant and bar and a 3,700-square-foot signature restaurant called January that serves fare grown onsite. Many guestrooms include wood-burning fireplaces, exposed wood beams and large windows. McHugh used cross-laminated timber and heavy timber for all four buildings in the project. Paul Mishkin, a Chicago investor, is the founder of Southall.
UTICA, N.Y. — Boutique brokerage firm Muroff Hospitality Group has arranged the sale of a two-story, 40-room Econolodge hotel located just off Exit 31 of I-90 in the upstate New York community of Utica. The sales price was $1.5 million. Mitch Muroff of Muroff Hospitality Group represented the buyer and seller, both of which were limited liability companies, in the transaction.
BOSSIER CITY, LA. — The Cordish Cos. has announced an agreement to acquire Diamond Jacks Casino & Hotel, located in Bossier City in northwest Louisiana. Subject to approval by the Louisiana Gaming Control Board, Cordish plans to redevelop the property into a casino resort and entertainment destination. Closed since March 2020, the development will be the first in the state of Louisiana under Cordish’s Live! brand, which offers dining, entertainment, casino, hotel and sports-anchored entertainment spaces. The seller and acquisition price were not disclosed. Cordish was the development partner for Hard Rock Hotel & Casino properties in Hollywood and Tampa, Fla., and its assets include the Live! Casino & Hotel Maryland in Hanover, Md.; Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh; and the Texas Live! Development within the Arlington Entertainment District in North Texas, where Cordish is currently underway on $1 billion of construction adjacent to the property. Additionally, the company has new developments in Florida, Alabama, Georgia, North Carolina and Tennessee. Foundation Gaming & Entertainment LLC will partner with Cordish to complete the project. — Hayden Spiess
NEW YORK CITY — Affinius Capital, which is a partnership between USAA Real Estate and Square Mile Capital Management, has provided a $110 million loan for the refinancing of the 488-room Arlo Midtown hotel in Manhattan. The boutique hotel is located on 38th Street between Eighth and Ninth avenues, adjacent to Times Square, and offers both traditional guestrooms and suites, as well as several onsite food-and-beverage options. The borrower was Quadrum Global, a development and investment firm with offices in New York City and Miami.
MISSOULA, Mont. — CBRE Hotels has arranged the sales of the AC Hotel by Marriott, Residence Inn by Marriott and the Mercantile retail center in downtown Missoula. The buyer was a partnership between Evermore Partners and New Castle Hotels & Resorts. AC Hotel Missoula Downtown is located at 175 N. Pattee St. Built in 2021, the 105-room, six-story hotel has three food and beverage options, including a rooftop bar. The hotel also has a fitness center, meeting space and valet parking. Residence Inn Missoula Downtown and the Mercantile are located at 125 North Pattee St. Built in 2019, the 175-room, five-story hotel has two event spaces, a fitness center, valet parking, rooftop deck, indoor pool and breakfast area. The Mercantile, which is directly connected to the Residence Inn, is a retail center with restaurants, shops and an indoor cycling studio. Chris Burdett led CBRE’s Pacific Northwest hotel team in the transaction. Matthew Behrens represented the seller, HomeBase Partners. The price was not disclosed.
CORAL GABLES, FLA. — JLL’s Hotels & Hospitality Group has arranged the sale of Hotel Colonnade Coral Gables, a 157-room hotel located at 180 Aragon Ave. in Coral Gables. The property, which underwent renovations in 2016, features 34,000 square feet of indoor and outdoor meeting and event space, luxury amenities and food-and-beverage options. Christopher Exler and Pamela Vasquez of JLL represented the seller, Pebblebrook Hotel Trust, and secured the buyer in the transaction. Additionally, a JLL Capital Markets Debt Advisory team led by Mark Fisher secured acquisition financing on behalf of the buyer. The sales price and loan amount were not disclosed.
MCDONOUGH, GA. — Extended Stay America has opened an Extended Stay Suites hotel in McDonough, roughly 30 miles southeast of Atlanta. Developed by TGC Group, the property totals 84 rooms. Amenities include complimentary WiFi, free breakfast, cable, a fitness room, onsite guest laundry and a lobby. TGC Hospitality Management is the hotel’s property manager.
HOUSTON — A joint venture between Dallas-based NewcrestImage and Phoenix-based Hospitality Capital Partners (HCP) has acquired the 153-room Courtyard by Marriott Houston Hobby Airport. The joint venture acquired the property, which is located just two miles from the airport, as part of a $137.3 million portfolio deal that comprised 16 Marriott-branded hotels totaling 2,155 rooms across nine states. Al Calhoun and Mark Fair of CBRE represented the seller, Massachusetts-based REIT Service Properties Trust, in the portfolio sale.
ATLANTA — Convention, sports and entertainment campus operator Georgia World Congress Center Authority (GWCCA) and Swedish development and construction company Skanska have topped off Signia by Hilton Atlanta, a 976-room, 1.3 million-square-foot hotel project in the city’s downtown area. Scheduled to open in January 2024, the 453-foot hotel will be owned by GWCCA and managed by Hilton Management Services. Upon completion, the property will connect to the Georgia World Congress Center and include three restaurants, three bars, a spa, beauty bar and a fitness center. Signia by Hilton Atlanta will also feature more than 100,000 square feet of meeting space, including a ballroom, outdoor event deck, outdoor event lawn and three boardrooms. Boston-based Drew Co. is the developer of the project, with Skanska and SG Contracting serving as general contractor. Gensler is providing architectural services. In addition to its proximity to Georgia World Congress Center, the hotel will be situated adjacent to CIM Group’s $5 billion Centennial Yards project, State Farm Arena and Mercedes-Benz Stadium.
