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CORAL GABLES, FLA. — Pebblebrook Hotel Trust (NYSE: PEB) has acquired The Westin Colonnade Coral Gables for $59.4 million. The 157-room hotel is located in Miami on Miracle Mile in the heart of Coral Gables, a suburb of Miami. The hotel will continue to be operated by Davidson Hotels and Resorts. “We’re excited about the acquisition of The Westin Colonnade Coral Gables and the ability to further expand our presence in Miami, one of the fastest growing markets in the country,” says Jon Bortz, chairman and CEO of Pebblebrook. “This hotel is our second hotel investment in Miami and our first in the Coral Gables submarket. The property’s excellent location in this affluent and dynamic market makes the hotel a leader among its competitors, and its upside opportunity makes it an excellent addition to our high-quality portfolio.” The hotel is located in the Coral Gables commercial district, just south of downtown Miami. It is located near Merrick Park, Miami Marlins Park, the University of Miami, Coral Gables Museum, golf courses and abundant shopping. The hotel’s location is also near corporate tenants including Club Med, ExxonMobil, IBM, Bacardi, Intelsat and Del Monte Fresh Produce. The immediate area includes 140 gourmet restaurants, …

BOSTON — HFF (NYSE: HF) has secured a $500 million refinancing for International Place, a 1.8 million-square-foot, Class A office complex in Boston’s Financial District. Working on behalf of a joint venture between The Chiofaro Company and an institutional partner, HFF placed the fixed-rate loan with New York Life Real Estate Investors and Northwestern Mutual. International Place was completed in 1992. It features two interconnected office towers in the heart of the Financial District. The property offers 360-degree unobstructed views of Boston’s downtown waterfront. Situated at the foot of the Rose Kennedy Greenway, tenants of International Place have easy access to South Station, Interstates 93 and 90, and Logan Airport via the Ted Williams and Callahan/Sumner Tunnels. Senior Managing Director Riaz Cassum and real estate analyst Patrick McAneny led the HFF debt placement team representing the borrower. Major tenants at International Place include investment management firm Eaton Vance; law firms Choate Hall & Stewart and Proskauer Rose; and PayPal. The retail portion of the complex houses tenants such as the Palm Restaurant, Starbucks, Au Bon Pain, Santander Bank and a soon-to-open Republic Fitness. The Chiofaro Company is a privately held, independent firm engaged in the development, investment, leasing, management and …

HONOLULU — The Howard Hughes Corp. (NYSE: HHC) has secured a $600 million non-recourse construction loan from Blackstone Real Estate Debt Strategies for the development of Waiea and Anaha, the first two condominium towers at Ward Village, a 60-acre urban master-planned community in Honolulu. Randy Fleisher of the Dallas Capital Markets group of JLL arranged the financing. “Our vision for Ward Village is to create the premier master-planned community in Hawaii offering an unrivaled vibrant urban lifestyle in the heart of Honolulu,” says Grant Herlitz, president of The Howard Hughes Corp. based in Dallas. “The closing of this loan marks another important milestone as we create the quintessential 21st century neighborhood.” Ward Village will include more than 4,000 high-rise residences and more than 1 million square feet of retail space surrounded by outdoor public gathering places and pedestrian-friendly streets. A four-acre public park will anchor the neighborhood. James K.M. Cheng, an internationally recognized architect based in Vancouver, in collaboration with Honolulu-based firm WCIT Architecture, designed Waiea. The tower will include 171 residences and approximately 8,000 square feet of new retail space. Construction began in June with completion projected in late 2016. Solomon Cordwell Buenz, a global architecture and design firm, …

AUSTIN, TEXAS — An affiliate of Hyatt Hotels Corp. (NYSE:H) has acquired its partners’ 92 percent interest in the 491-room Hyatt Regency Lost Pines Resort and Spa in Austin for approximately $143 million. Hyatt also assumed approximately $65 million of property level debt. The total price, inclusive of debt, implies a valuation of approximately $450,000 per key. The resort has operated as Hyatt Regency Lost Pines Resort and Spa since it opened in 2006. Dallas-based Woodbine Development Corp. developed the resort and has served as the asset manager and managing general partner of Bastrop Resort Partners LP, the partnership entity that has owned the resort since its opening. Hyatt was one of the original co-owners and has managed the resort since its debut. “Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area, where Hyatt has a broad spectrum of lodging experiences,” says Steve Haggerty, global head of capital strategy, franchising and select service for Hyatt Hotels. “This transaction is consistent with our strategy to focus our investing in key areas such as resorts and group-oriented hotels. The resort’s financial and operating success of this property has …

NEW YORK CITY — Vornado Realty Trust (NYSE: VNO) has agreed to sell 1740 Broadway, a 601,000-square-foot office building in Manhattan. The price is $605 million, or just over $1,000 per square foot. The financial statement gain will be approximately $443 million, while the tax gain will be $483 million, deferred as part of a like-kind exchange for the acquisition of the St. Regis Fifth Avenue retail. The sale of 1740 Broadway is subject to closing conditions and is expected to be completed by the end of the year. The company has also completed the purchase of the retail condominium of the St. Regis Hotel and the adjacent retail town house for $700 million. Vornado owns approximately 75 percent of the joint venture which owns the property. Vornado also owns 689 Fifth Ave. on the same block. In total, the company owns 19.8 million square feet of Manhattan office space in 31 properties, four Manhattan residential properties totaling 1,655 units and 2.4 million square feet of Manhattan street retail space. Vornado is a real estate investment trust (REIT) with a portfolio of more than 100 million square feet, primarily located in the New York and Washington, D.C. areas. Vornado’s stock price …

HUNT VALLEY, MD. AND CHICAGO — Omega Healthcare Investors (NYSE: OHI) and Aviv REIT (NYSE: AVIV) have agreed to merge in a blockbuster deal. Omega will acquire all of the outstanding shares of Aviv. The transaction values Aviv at $3 billion. Omega company officials say that the transaction creates the “premier publicly traded pure-play skilled nursing facility REIT.” The deal is expected to close in the first quarter of 2015. The combined company will have a diversified portfolio that includes 83 operator relationships in 41 states. Aviv shareholders will receive a fixed exchange ratio of 0.90 Omega shares for each share of Aviv common stock they own, per the agreement. This consideration would be equivalent to $34.97 of Omega stock for each Aviv share, representing a premium to Aviv shareholders of about 16.2 percent over Aviv’s stock price. Omega shareholders are expected to own about 70 percent and Aviv shareholders, together with the limited partners of Aviv Healthcare Properties Limited Partnership, will own 30 percent of the combined company. The stock-for-stock transaction is intended to be tax-free to shareholders. Following the merger, Taylor Pickett, Omega’s CEO, will continue to serve as CEO of the combined company, while Craig Bernfield, current …