KINGSVILLE, TEXAS — Marcus & Millichap has brokered the sale of a 16-acre RV resort in Kingsville, located outside of Corpus Christi. Nature’s Own RV Resort features 115 sites and amenities such as a clubhouse, laundry facilities and a pool. Brad Dorsey and Skyler Henderson of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.
DALLAS — Blackstone Real Estate (NYSE: BX) has entered into an agreement to sell G6 Hospitality, the Dallas-based parent company of Motel 6, for $525 million. The buyer is Oravel Stays, which owns Indian hospitality and travel technology company OYO, and the all-cash deal is expected to close during the fourth quarter. Blackstone acquired Motel 6 in 2012 and invested in capital improvements to the portfolio during its ownership. Through G6 Hospitality, Blackstone operates nearly 1,500 economy lodging venues in the United States and Canada under the Motel 6 and Studio 6 Extended Stay brands. OYO entered the U.S. market in 2019 and currently operates over 320 hotels across 35 states.
NEW YORK CITY — National general contractor JT Magen has completed The Paramount Club, a 32,000-square-foot hospitality project located on the concourse level of 1301 Avenue of the Americas in Midtown Manhattan. The Paramount Club features TVs, a pool table, fitness/wellness center, business lounge, classroom-style training room, 18-person boardroom and a variety of dining options, including an atrium restaurant, café, grab-and-go market and private dining spaces. Loffredo Brooks Architects designed the club, space for which was repurposed from existing lower levels at the property.
LONGBOAT KEY, FLA. — Unicorp National Developments Inc. has completed the St. Regis Longboat Key Resort & Residences, a 1.1 million-square-foot project located on a barrier island near the southwestern Florida beach city of Sarasota. The project carried a total price tag of $376 million. The 18-acre resort and residential complex consists of five six-story buildings. The hotel houses 168 guestrooms, including 26 luxury oceanfront suites that offer one- to four-bedroom options. Each suite features separate living rooms, private terraces and butler service. Additionally, the property includes 69 for-sale condo residences. Resort amenities include an 800-foot private beach and 42 water features, including a winding river and a 500,000-gallon saltwater lagoon where guests can swim with tropical fish and interact with the resident giant tortoises. The St. Regis Spa spans 20,000 square feet and features a eucalyptus steam room, a snow shower and hot and cold plunge pools. Additional amenities include a fitness center and a children’s club. The St. Regis also offers 10 indoor and outdoor meeting/event spaces totaling 36,285 square feet, with one ballroom capable of accommodating up to 600 people in a theater-style setting. The food-and-beverage component entails seven different bar and restaurant concepts. Moss Construction served …
WARMINSTER, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $7.8 million loan for the refinancing of the 92-room Holiday Inn Express & Suites hotel in Warminster, a northern suburb of Philadelphia. The hotel offers amenities such as a pool, fitness center and complimentary breakfast. Katie Vivian of Largo Capital originated the nonrecourse loan, which carried a five-year term and 30-year amortization schedule. The borrower and direct lender were not disclosed.
WESTMINSTER, COLO. — Marcus & Millichap has arranged the sale of La Quinta Inn by Wyndham Denver Northglenn, a three-story hotel at 345 W. 120th Ave. in Westminster. A private seller sold the asset to a local buyer for an undisclosed price. Built in 1986 and renovated in 2023, La Quinta Inn offers 131 guest rooms and is centrally located between Boulder, Colo., and downtown Denver. Skyler Cooper and Christy McDougall of Marcus & Millichap represented the seller and procured the buyer in the deal. Adam Lewis served as Marcus & Millichap’s broker of record in Colorado.
NEW YORK CITY — Investment firm Gencom has acquired the 587-room Thompson Central Park Hotel in New York City. Ramsfield Hospitality Finance, funds managed by AB CarVal and Affinius Capital LLC provided a $230 million loan for the acquisition. Eastdil Secured represented the undisclosed seller in the transaction and also represented Gencom in arranging the acquisition financing. Situated on Manhattan’s Billionaires’ Row just south of Central Park, the luxury hotel rises 42 stories on 56th Street. Formerly the Parker Hotel, the property underwent a $100 million renovation and rebranding beginning in 2021. The hotel features 4,500 square feet of meeting space and various food-and-beverage concepts. A 6,500-square-foot Exhale Spa and fitness center is slated to open later this year. The hotel’s “Upper Stories” experience includes a private arrival and departure process and an exclusive guest lounge. A collection of guestrooms and suites are perched on the property’s topmost floors. Restaurants at the Thompson include Burger Joint, a popular burger eatery that is open for lunch and dinner; Parker’s, a restaurant on the hotel’s main level that features live music and crafted cocktails named after famous jazz songs; and Indian Accent, an upscale dining experience by Chef Manish Mehrotra that offers …
DELRAY BEACH, FLA. — A joint venture between Certares and TMGOC Ventures has purchased The Ray Hotel, an upscale, 141-room hotel in Delray Beach, a coastal city in South Florida’s Palm Beach County. The seller and sales price were not disclosed. Alexandra Lalos Church, Zak Brodstein and Lauren Habig of Hodges Ward Elliott represented the seller in the transaction. Delivered in September 2021, The Ray is part of Hilton’s Curio Collection of high-end hotels. The property offers amenities including a rooftop restaurant and bar, rooftop pool deck, 1,800-square-foot fitness center and a modern event space. The Ray’s three full-service eateries include restaurants from Michelin-star chef Akira Back and Campi Italian, a concept from New York-based Host Restaurants.
PITTSBURGH — Marcus & Millichap has brokered the sale of the 69-room Hampton Inn Pittsburgh/West Mifflin hotel. Built in 1997 and renovated in 2018, the hotel is located about eight miles south of the downtown area and offers amenities such as an outdoor pool, fitness center and a business center. Alexandre Duong and Kevin Laureno of Marcus & Millichap represented the seller, Seaview Hospitality, in the auction sale. The duo, along with Adam Sklaver and Philip Kates of Marcus & Millichap, also secured the private buyer.
SHERMAN, TEXAS — Marcus & Millichap has brokered the sale of Quality Suites Sherman, a 67-room hotel located about 50 miles north of Dallas in Sherman. The sales price was not disclosed. Built on 2.2 acres in 1996 and renovated in 2019, the two-story hotel offers amenities such as an outdoor pool, meeting room, breakfast bar and guest laundry facilities. Chris Gomes of Marcus & Millichap represented the seller in the transaction and procured the Oklahoma-based private investor as the buyer. Both parties requested anonymity. Allan Miller and Skyler Cooper of Marcus & Millichap assisted in closing the deal as supporting brokers.