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WALNUT CREEK, CALIF. — A consortium of private investment groups affiliated with real estate investor and developer Mark Hall, CEO of Walnut Creek-based Hall Equities Group and Zenith Asset Co., has acquired 29 hotels and the corporate assets of Duluth, Minn.-based hotelier ZMC Hotels. The purchase price was not disclosed. The 29-hotel portfolio is disbursed throughout the country, with five hotels located in Scottsdale, Ariz. All of the hotels will be master leased to and managed by Zenith Asset Co. Following this acquisition, Zenith’s total hotel portfolio will consist of 4,000 rooms in 34 properties. ZMC Hotels owns and operates both private label boutique hotels, as well as those licensed by brands including Hilton, Marriott, IHG and Wyndham, and employs 1,000 people. ZMC Hotels is a third-generation family business previously owned and operated by the Goldfine family of Duluth. Hall intends to retain certain senior ZMC Hotels management staff located in Duluth, Minn.; Kansas City, Mo.; and Scottsdale, Ariz., but will consolidate accounting and construction functions at the headquarters of Hall Equities Group and Zenith Asset Co. Hall plans for more than $40 million in immediate capital investment improvements and upgrades within the ZMC Hotel portfolio. Zenith also has plans to …

ROHNERT PARK, CALIF. — The leadership of the Federated Indians of the Graton Rancheria has begun construction on the $175 million expansion of the Graton Resort & Casino, a gaming and entertainment destination in Northern California’s Bay Area. The expansion includes a 200-guest room resort that also features a spa, meeting and convention space and a pool area. The six-story hotel will connect to the south side of the existing facility. The 342,000-square-foot addition will expand the amenities at the existing $800 million casino and entertainment facility that opened in November 2013. Located just off U.S. Highway 101 at Golf Course Drive West in Rohnert Park, the Graton Resort & Casino is owned by the Federated Indians of Graton Rancheria and is managed by Station Casinos LLC. The new hotel will feature guest rooms ranging from 500 square feet to 2,600 square feet, as well as an upscale lobby and bar, spa and 20,000 square feet of flexible event and convention space that includes seven separate rooms. The meeting space will also comprise pre-function areas and smaller breakout meeting rooms. The new pool area will serve as an extension of the hotel lobby, and will provide an outdoor connection to …

SHREVEPORT, LA. — Care Capital Properties Inc. (NYSE: CCP), the skilled nursing REIT that spun off from healthcare giant Ventas in August, has completed its first major transaction. CCP acquired eight skilled nursing facilities and one assisted living facility, all located in Shreveport in northwest Louisiana near the Texas border, for $190 million. The seller was not disclosed. The properties contain a total of 1,174 beds, with an average occupancy rate of approximately 88 percent. The company immediately entered into a long-term, triple-net lease with Texas-based operator Senior Care Centers LLC (SCC) to operate the acquired portfolio. SCC concurrently acquired the portfolio’s operations, which include a rehabilitative therapy company, four hospice agencies and an interest in an affiliated pharmacy provider. In conjunction with the acquisition, CCP made a $20 million five-year, fully amortizing loan to SCC. The initial cash lease yield on the properties is 8.25 percent, and the loan bears interest at a rate of LIBOR plus 5 percent, which escalates 25 basis points annually. As a result of the transaction, SCC is expected to account for approximately 16 percent of CCP’s net operating income on a pro forma basis. On Tuesday, CCP’s stock price closed at $30.87 per …

COLLEGE PARK, MD. — Capital One has served as sole lead arranger, sole bookrunner and administrative agent for an $80 million syndicated loan to finance the construction of a 297-room, four-star hotel located near the entrance to the University of Maryland in College Park. The borrower, Southern Management Corp., is a privately owned residential property management company in the Mid-Atlantic region. The 10-story, 365,681 square-foot hotel, which is scheduled to open in 2017, will include 43,832 square feet of meeting space, an indoor/outdoor pool, a fitness center, concierge service and executive-level amenities. The property will also include a nine-story parking garage above 43,212 square feet of ground-floor retail space, much of it devoted to dining. Additional amenities planned for the hotel include a steak-and-seafood restaurant, two ballrooms with space for up to 1,000 people, a high-end spa and a Bagels ‘n Grinds coffee shop on the first floor. “Capital One’s commitment to learning the details of our business ensured that the transaction met our needs and proceeded smoothly to closing,” says David Hillman, CEO of Vienna, Va.-based Southern Management Corp. Sadhvi Subramanian, senior vice president and market manager, and Brian Gormley, senior vice president, in Capital One Commercial Real Estate’s …

WICHITA, KAN. — U.K.-based private equity real estate firm Henley has teamed up with WaterWalk Hotel Apartments to construct and open five WaterWalk franchises in Florida, North Carolina and New York. As part of the $100 million agreement, Henley has selected individual sites in Albany, Charlotte, Fort Lauderdale, and North Orlando, with construction starts slated for January 2016. WaterWalk’s hybrid model of hotel and apartment combines traditional hotel services into a gated, purpose-built community, and offers amenities such as all-inclusive pricing, full-sized appliances, high-speed Internet, DirecTV, housekeeping, fitness memberships, a community bicycle program, local transportation and free breakfast. Wichita-based WaterWalk Hotel Apartments was started by Jack DeBoer, the founder of Residence Inn, Summerfield Suites, Candlewood Suites and Value Place, and opened its first site in 2014. The deal with Henley marks the first investment in the WaterWalk franchise by a foreign investor. It also represents Henley’s first transatlantic agreement. The firm currently holds around £600 million (U.S. $923 million) in assets under management. “WaterWalk’s versatility as a hybrid property type gives investors and franchisees an unmatched opportunity in the real estate industry by providing the strong revenue potential associated with upscale, extended-stay hotels and the capital structure and valuation of an …

PACIFIC GROVE, CALIF. — Domaine Hospitality Partners LLC has announced plans to build Project Bella, a luxury 160-room, waterfront hotel in Pacific Grove, a town two miles north of Monterey, Calif., along Monterey Bay. The hotel will be located across the street from the Monterey Bay Aquarium and Stanford University’s Hopkins Marine Station. The hotel will be situated within the American Tin Cannery at the end of historic Cannery Row. The town of Pacific Grove is located in the Monterey Peninsula and offers four miles of shoreline along Monterey Bay. “My partners and I have been dreaming about building one of the leading iconic hotels in the U.S. and maybe the world. We believe we will drive significant additional visitors to the Monterey Peninsula, benefitting all businesses,” says Ron Meer, president and CEO of Domaine Hospitality Partners. “Additionally, we look forward to being a meaningful contributor to the marine research community by supporting great efforts underway in the Monterey National Marine Sanctuary and by being strong supporters of ocean sustainability, preservation and protection.” Mark Hornberger of Hornberger + Worstell designed each hotel room to feature views of Monterey Bay. The hotel will include conference and meeting facilities targeted for private …