Hotel Online
News for the Hospitality Executive


advertisement


Nexus Companies and Evolution Hospitality Break Ground on the
159-room Courtyard by Marriott Long Beach Airport in California

Long Beach, Calif. (May 22, 2012) – Nexus Companies and Evolution Hospitality announced the groundbreaking of a four-story, 159-room Courtyard by Marriott adjacent to the Long Beach Airport. Located off I-405 at Lakewood Boulevard and Carson Street, the 4.5-acre site is part of Boeing Corporation’s 260-acre Douglas Park, formerly the site of an aircraft manufacturing plant. The upscale, select-service Courtyard Long Beach Airport is scheduled to open in March 2013 and will be the first hotel developed at Douglas Park.

“Nexus is excited to be a part of the evolution of Douglas Park. Early on, we recognized a need for hotels and restaurants in the development, and look forward to providing a new and convenient hotel option for business travelers,” said Cory Alder, President of Nexus Companies.

This is the second Courtyard by Marriott built by Nexus Companies; the Courtyard Santa Ana John Wayne Airport/Orange County opened in 2011. “We are honored to partner with two industry leaders on this unique opportunity: Marriott International, a company acclaimed worldwide for their products and services, and locally-based Evolution Hospitality, who has successfully opened and managed many new build properties across California,” said Curt Olson, CEO of Nexus Companies.

Newport Beach-based Evolution Hospitality is an equity partner in the development and will manage the hotel upon completion. “The Courtyard Long Beach Airport fits squarely in our wheelhouse and we’re excited to be working as an investment partner with such a respected developer as Nexus Companies,” said John Murphy, Evolution Hospitality President. “Although we operate every asset in our portfolio with an owner mentality, one of our business strategies moving forward is to find opportunities similar to the Courtyard Long Beach Airport that allow our team to invest capital into the properties we manage,” he continued.

Additional development partners include T2 Development, an Orange County-based development and investment firm that provided common equity; Lowe Enterprises Investors, a Los Angeles-based real estate investment management firm that provided preferred equity on behalf of an investment client; BBVA Compass which provided the senior construction loan; and San Diego-based Lusardi Construction, general contractor for the project.

Courtyard by Marriott Long Beach Airport will be located at 3841 Lakewood Blvd. in Long Beach, California. For more information, please contact Nexus Companies at (714) 546-5600, ext 229.

About Nexus Companies
Founded in 1981, Nexus Companies is a Southern California-based full-service real estate firm. Its highly-talented team has developed some of Orange County’s most successful commercial and residential properties. The firm’s success comes from a passion for quality and a commitment to build and manage properties that people enjoy, as well as for developing landmark properties that bring value to the communities in which they are located. The Nexus team brings the finest skills in development, management, marketing, and finance as well as a passion for the development and enhancement of senior living. The Nexus dedication to excellence is evident through their years of experience in creating and managing communities.

About Evolution Hospitality
Evolution Hospitality is a privately-owned, hospitality management and investment firm located in Newport Beach, California. A full-service company with in-house expertise in all disciplines, Evolution Hospitality drives margins and creates value for each of its assets by combining an owner mentality and pervasive sales-driven culture with a proven ability to capture market share and manage the middle-of-the-page. Evolution Hospitality currently manages a portfolio of 12 assets, both branded and independent properties. Signature assets include Hard Rock Hotel San Diego, San Mateo Marriott, Queen Mary Long Beach, Hotel Adagio San Francisco, and Courtyard San Diego Mission Valley/Hotel Circle. For more information call 949-610-8000 or visit www.EvolutionHospitality.com.

About T2 Development
Based in Newport Beach, California, T2 Development provides a turnkey hospitality solution including development, investment and management services. Led by an experienced and award-winning team, the partners at T2 Development have a long history of creating wealth in the hospitality industry, whether from new development or from repositioning existing properties into more profitable assets. Current new development projects in California include the Hampton Inn Hotel Circle, Hilton Garden Inn Old Town San Diego, Cambria Suites Anaheim, Hilton Garden Inn and Homewood Suites San Diego, and the Courtyard by Marriott in both Sunnyvale and Long Beach. For more information please visit www.T2Dev.com.

About Lowe Enterprises Investors
Lowe Enterprises Investors (LEI) provides real estate investment management services on behalf of a select list of institutional and high net worth clients and partners through individually managed accounts, commingled fund relationships and targeted investment programs. The firm has been responsible for $6 billion in real estate assets, including commercial, hospitality and debt investments, since inception in the late 1980s. LEI has been a leading value-added investor through multiple cycles, employing equity and structured debt in its investment strategies. The firm is based in Los Angeles and is an affiliate of Lowe Enterprises, a national investment, development and management firm that is celebrating its 40th year in real estate.
For more information about LEI, please visit: www.LEInvestors.com.
.
Contact: 

Natalie Heimstra
Nexus Companies
714-546-5600 x212
ndh@nexusd.com




Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here

 
To Learn More About Your News Being Published on Hotel-Online Inquire Here

 
Also See: Evolution Hospitality Selected to Manage the Queen Mary Located in Long Beach, California / September 2011
..
To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.