Hospitality

Marcus & Millichap Brokers Sale of 60-Room Black Forest Lodge in Big Bear Lake, California

by Amy Works January 30, 2025

BIG BEAR LAKE, CALIF. — Marcus & Millichap has arranged the sale of Black Forest Lodge, a hotel located at 41121 Big Bear Blvd. in Big Bear Lake. Terms of the transaction were not released. Christian Apt, Allan Miller, Chris Gomes and Skyler Cooper of the Miller-Gomes Hotel team at Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Mario Alvarez of Marcus & Millichap assisted with the transaction, while Tony Solomon of Marcus & Millichap served as the firm’s broker of record in California. Spanning 2.9 acres, Black Forest Lodge features 60 rooms, 2,300 square feet of retail space, a heated pool, spa, sports courts and RV parking. The property has been family-owned since 1976.

January 30, 2025

Hospitality Indiana Loans Midwest

Barings, Apollo Originate $113M Debt Package for 575-Room Westin Indianapolis Hotel

by Kristin Harlow January 29, 2025

INDIANAPOLIS — Barings and affiliates of Apollo have jointly originated a $113 million debt package to refinance the Westin Indianapolis hotel. An affiliate of KSL Capital Partners has owned the downtown property since 2019. The loan was structured with mezzanine and senior mortgage components. Barings funded the mezzanine component of the loan, with Apollo affiliates originating the senior portion. Originally built in 1989, the hotel was fully renovated from 2020 to 2022. The property features 575 guestrooms, 48,300 square feet of total event space, a new food and beverage outlet and a recently renovated fitness center. Eastdil Secured advised the borrower.

January 29, 2025

Hospitality Loans New York Northeast

CooperWynn Capital Arranges $19.5M Loan for Refinancing of Upstate New York Hotel

by Taylor Williams January 29, 2025

WINDHAM, N.Y. — CooperWynn Capital, a Utah-based firm that provides capital advisory services for the hospitality industry, has arranged a $19.5 million loan for the refinancing of Wylder Windham Resort, a 110-room hotel located about 50 miles southwest of Albany. Built in the 1880s and most recently renovated in 2022, the hotel offers various lodge-style accommodations and amenities such as a heated outdoor pool, fitness center, pickleball courts, onsite food-and-beverage options and both indoor and outdoor meeting/event spaces. CooperWynn Capital arranged the nonrecourse, floating-rate loan through Formida Capital on behalf of the owner, Wilder Hotels.

January 29, 2025

Acquisitions Hospitality Massachusetts Northeast

JLL Brokers Sale of 50-Room Hotel in South Yarmouth, Massachusetts

by Taylor Williams January 28, 2025

SOUTH YARMOUTH, MASS. — JLL has brokered the sale of Parker Beach Lodge, a 50-room hotel located in the Cape Cod community of South Yarmouth. The hotel, which was renovated between 2021 and 2022, includes two suites and offers amenities such as an outdoor pool and a swim/gift shop. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the undisclosed seller in the transaction. The new ownership has tapped Jamsan Hotel Management to oversee operations.

January 28, 2025

Acquisitions Hospitality Massachusetts Northeast

JLL Negotiates $123M Sale of Marriott-Branded Hotel in Downtown Boston

by Taylor Williams January 27, 2025

BOSTON — JLL has negotiated the $123 million sale of a Marriott-branded hotel in downtown Boston. The Courtyard Boston Downtown is a 13-story, 315-room hotel that was originally built in 1925 as the headquarters for Boston’s Lodge No. 10 of the Benevolent and Protective Order of the Elks. The hotel offers amenities such as an onsite bar and restaurant that pays homage to the building’s original function, as well as a fitness center, business center and 12,684 square feet of meeting and event space. The building also houses approximately 46,000 square feet of retail space. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the seller, Ashford Hospitality Trust, in the transaction. The buyer was not disclosed.

January 27, 2025

Acquisitions Hospitality New York Northeast

Marcus & Millichap Brokers Sale of 320-Room Hotel Portfolio in Syracuse

by Taylor Williams January 27, 2025

SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of a portfolio of two hotels totaling 320 units in Syracuse. The portfolio consists of the 197-room former Holiday Inn Syracuse Liverpool and the 123-room Staybridge Suites Syracuse Liverpool. Hotel amenities include indoor pools, business centers, fitness centers and complimentary airport shuttles. Jerry Swon and Eric Anton of Marcus & Millichap represented the seller in the transaction, and Swon also procured the buyer. Both parties requested anonymity.

January 27, 2025

Development Hospitality Michigan Midwest

Azul Hospitality Opens 154-Room AC Hotel Detroit

by Kristin Harlow January 24, 2025

DETROIT — Azul Hospitality has opened the AC Hotel Detroit, a 154-room hotel in the Brush Park neighborhood of Detroit. The 10-story property marks the first AC Hotel in southeast Michigan. Developed by the Roxbury Group in partnership with Peachtree Group, the hotel features a glass-enclosed lobby bar named The Conservatory, a rooftop venue and the restoration of the historic Bonstelle Playhouse. The Bonstelle, which is separately managed but connected to the hotel, will be used for live performances as well as civic, corporate and private events. Additionally, Azul has converted the Cadillac House, an historic property in Lexington, Mich., into the Tapestry Collection by Hilton. The 23-room hotel underwent an extensive renovation and expansion. The property also features the Hidden Cavern event venue and the Cadillac House Tavern & Bar.

January 24, 2025

Hospitality Loans Texas

KKR Provides $95M in Financing for Marriott Uptown Dallas Hotel

by Taylor Williams January 22, 2025

DALLAS — Global private equity firm KKR has provided $95 million in financing for the 255-room Marriott Uptown Dallas hotel. The financing consists of $87.5 million in initial loan proceeds used to replace the property’s outstanding debt, as well as two future-funded earnout facilities that provide potential access to $7.5 million in additional capital. Completed in early 2021, the 14-story hotel is located at 3033 Fairmount St. and features a rooftop pool, lounge, ground-floor restaurant and 13,000 square feet of meeting and event space. A partnership between NexPoint Diversified Real Estate Trust (NYSE: NXDT) and Alamo Manhattan owns the hotel.

January 22, 2025

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of 70-Room Hotel in Sulphur Springs, Texas

by Taylor Williams January 22, 2025

SULPHUR SPRINGS, TEXAS — Marcus & Millichap has brokered the sale of the 70-room Hampton Inn Sulphur Springs hotel, located about 90 miles northeast of Dallas. Built on 2.5 acres in 2010, the hotel features an outdoor pool, fitness and business centers, onsite retail space, a breakfast area and 600 square feet of meeting and event space. Skyler Cooper of Marcus & Millichap represented the seller, Cox Hospitality Group, in the transaction. Cooper also procured the buyer, a Texas-based private investor, in conjunction with Allan Miller and Chris Gomes of Marcus & Millichap.

January 22, 2025

Acquisitions Colorado Hospitality Mixed-Use Multifamily Restaurant Retail Western

DPC Cos., Ogilvie Partners Acquire 220,000 SF Englewood CityCenter in Colorado

by Amy Works January 21, 2025

ENGLEWOOD, COLO. — A joint venture between DPC Cos. and Ogilvie Partners has acquired Englewood CityCenter for an undisclosed price. Brad Lyons of CBRE handled the transaction. Englewood CityCenter offers 220,000 square feet of office, retail and multifamily space. The joint venture is working with the City of Englewood on a master redevelopment plan to transform Englewood CityCenter into a community center with multifamily housing, open space for community gathering and a walkable live/work/shop area with retail, services, restaurants and a hotel within the 12-acre site. At the time of sale, the property was 40 percent leased. Current tenants include Harbor Freight, Ross Dress for Less, Petco, Tokyo Joe’s, Jersey Mike’s Subs and Einstein Bros.

January 21, 2025

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