KINGWOOD, TEXAS — Excel Commercial Real Estate has opened Laurel Springs RV Resort, a 226-site development in Kingwood, about 30 miles north of Houston. The property offers both long-term and overnight accommodations. Indoor amenities include a fitness center, arcade, business center, lounge, hospitality kitchen and onsite laundry facilities. The outdoor amenity package comprises a pool, outdoor patio and grilling areas, playground, dog park, putting green and walking trails. Jetstream Communities, an affiliate of CityStreet Residential Partners, will manage the property.
AUSTIN, TEXAS — PMZ Realty Capital has arranged a $20.7 million acquisition loan for Courtyard by Marriott Austin-University Area, a nine-story, 198-room hotel located in the state capital’s downtown district. The nonrecourse loan was structured with a floating interest rate. The accommodations consist of 186 guestrooms and 12 suites, and guests have access to a pool, fitness center, business center and 1,342 square feet of meeting and event space. The name of the direct lender and the borrower, a Dallas-based investment firm, were not disclosed.
HOUSTON — Excel Commercial Real Estate has acquired Eric & Jay’s RV Resort, a 114-site property in southeast Houston. The park sits on a 10-acre site with a stocked lake and offers both back-in and luxury pull-through slips. Amenities include a pool, fitness center, game room, outdoor grilling and dining stations and onsite laundry facilities. The seller and sales price were not disclosed. Jetstream Communities, an affiliate of CityStreet Residential Partners, will manage the property.
NASHVILLE, TENN. — Placemakr, a tech-centric hospitality and multifamily operator, has opened its third Nashville location. The 89-unit property is located at 321 Hart St. in the city’s Wedgewood-Houston neighborhood. Placemakr Wedgewood-Houston, formerly a Bento Living building, features apartment-style units for nightly hotel, short-term rental and long-term furnished housing stays. Units range from micro studios to two-bedroom apartments. According to the property website, a one-night stay this weekend ranges from $169 to $379. Guests have access to an outdoor rooftop terrace with views of downtown Nashville, a fitness center, meeting spaces, onsite bodega, coffee bar and an onsite Pacific-Rim-inspired restaurant. Placemakr’s other Nashville locations are in SoBro and Music Row.
NEW YORK CITY — New York City-based development and investment firm Lightstone has completed the 216-room Moxy Hotel in Brooklyn’s Williamsburg neighborhood. Moxy is part of the Marriott family of brands. Designed by Stonehill Taylor with interiors by BASILE Studio, the boutique establishment houses four food-and-beverage concepts, including a fine dining restaurant and a rooftop bar. Other amenities include a fitness center, coworking spaces and meeting and event rooms. Rates start at $179 per night.
MIAMI — Urban Network Capital Group (UNCG) has announced plans for Visions at Brickell Station, a 111-unit condominium/hotel project in Miami. Upon completion, the community will feature residences in studio and one-bedroom layouts, with no rental restrictions. Owners of the units will be able to rent them out through a booking platform or participate in a professionally managed program. UNCG purchased three parcels for the project — located at 1120, 1130 and 1136 S.W. 3rd Ave. — for a total price of $8.5 million. Robert Thorne of UNCG led the acquisition. UNCG’s investment partners in the project include V&V Investments and other private investors.
TAMPA, FLA. — Walker & Dunlop has negotiated the $76 million sale of the DoubleTree by Hilton Tampa Rocky Point Waterfront, a 291-room hotel located on Tampa’s Rocky Point peninsula. The waterfront hotel was originally built in 1986 and recently underwent a $17.9 million renovation. Sean Reimer of Walker & Dunlop’s New York team represented the buyer, BlackPearl Hospitality LLC, in the transaction. Walker & Dunlop also arranged an undisclosed amount of acquisition financing for BlackPearl. The seller was not disclosed. The DoubleTree by Hilton hotel features an outdoor swimming pool, fitness center, onsite restaurant, business center, meeting rooms and complimentary Wi-Fi, according to the hotel website.
NEW TOWN, N.D. — Kraus-Anderson will complete a $95 million renovation of the 4 Bears Casino & Lodge in New Town with a new seven-story hotel. The property is located on the western shore of Lake Sakakawea between Minot and Williston. The project includes an 18,000-square-foot demolition of the existing two-story hotel, 108,000 square feet of new construction and 20,200 square feet of renovation space. Upon completion, the lodge will have 264 rooms. The new hotel tower will add 90 guest rooms, gaming, offices and a 3,100-square-foot sports bar with a dining room and gaming stations. There will also be a 2,500-square-foot ballroom, meeting rooms and a fine dining steakhouse. A new Sakakawea Spa will feature couples’ massage, a gift shop, fitness room and hair and nail salon. The original 4 Bears Motor Lodge opened in the 1970s with 40 rooms. In 1993, a casino was added. Over the years, there were various expansions and improvements, including restaurants, an event center, marina, RV park, water park, convenience store and River Willow gaming boat. The project team includes Wenaha Group, a Native-owned owner’s representative firm, and TBE Architects, a St. Louis-based and Native American-founded design firm. Demolition and site work is …
RENO, NEV. — Reno-based Bajwa Properties has purchased a two-property hospitality portfolio in Reno. Terms of the transaction were not released. The 229-room portfolio includes a 94-key Staybridge Suites and a 135-key Hilton Garden Inn. Located at 10559 Professional Circle, Staybridge Suites features a 24-hour business center, onsite meeting room with flexible space, an outdoor pool and a fitness center. Hilton Garden Inn, at 9920 Double R Blvd., offers an onsite restaurant, business center, fitness center, indoor pool and event space. Bill Murney and Steve Avanzino of Cushman & Wakefield represented the undisclosed seller in the deal.
WEST HOLLYWOOD, CALIF. — iBorrow and Reuben Brothers, through a co-lending partnership, have funded a $86.7 million loan for the acquisition of a hotel asset in West Hollywood. The borrowers, Ian Schrager and Ed Scheetz, will use the loan to purchase 139-room property formerly known as the Standard Hotel. The buyers plan to renovate the asset and rebrand the hotel to the PUBLIC Hotel flag. The hotel is located at 8300 Sunset Blvd.