hotel acquisition
CapitaLand Ascott Trust Completes Divestment of Four Properties in Regional France for EUR44.4 Million
CapitaLand Ascott Trust | September 26, 2023
Singapore, 26 September 2023 – CapitaLand Ascott Trust (CLAS) has completed the divestment of four mature serviced residences in regional France to an unrelated third party for a total of EUR44.4 million (S$64.7 million[1]). The four properties are Citadines Croisette Cannes, Citadines Prado Chanot Marseille, Citadines Castellane Marseille and Citadines City Centre Lille. The four properties were divested at 63% above book value[2] and net proceeds of the divestment is approximately EUR34.1 million (S$49.7 million). The exit yield[3] is about 4% and CLAS received a net gain of approximately EUR1.2 million (S$1.8 million). Post-dive...
NewcrestImage & Dabu Group Acquire Full-Service Marriott Dallas/Fort Worth Westlake in Texas
Newcrest Image | September 26, 2023
A joint venture of two Dallas-based companies – NewcrestImage and Dabu Group – has acquired the full-service Marriott Dallas/Fort Worth Westlake. The hotel features architecture by award-winning Mexican architect Ricardo Legorreta, who is known for his innovative use of bright colors, light and shadow, and geometric shapes. Newmark Lodging Capital Markets arranged the sale on behalf of the seller. The team was led by Vice Chairman Miles Spencer and Director Parker Sherrill. The Marriott is convenient to corporate offices, historic downtown Grapevine, and destinations such as the world headquarters of Charles Schwab Corporation, DFW ...
MCR Acquires the Canopy by Hilton Charlotte Southpark
MCR | September 13, 2023
NEW YORK-- MCR — the country’s 3rd-largest hotel owner-operator — has acquired the Canopy by Hilton Charlotte Southpark, a five-story, 150-room hotel built in 2020 in Charlotte, North Carolina. Closed with new financing in place, the hotel was purchased at a 20% discount to MCR’s estimated replacement cost. This is the company’s sixth hotel in North Carolina and its first Canopy by Hilton hotel. Situated in the upscale commercial and residential Charlotte suburb of Southpark, the hotel is located 25 minutes from the Charlotte Douglas International Airport — the sixth busiest airport in the U.S., serving over 50 million passen...
Highline Hospitality Partners Acquires Homewood Suites by Hilton Eatontown
ighline Hospitality Partners | September 13, 2023
NEW YORK (September 13, 2023) – Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has acquired the Homewood Suites by Hilton Eatontown. The 131-room, extended-stay hotel, which is HHP’s eleventh property, is located in Eatontown, NJ in close proximity to the Jersey Shore beaches, major hospital systems, sports complexes and universities. The hotel is also located near Fort Monmouth, a decommissioned army base that is in the process of undergoing a transformational redevelopment. Highline Hospitality Partners' team has more than 60 years of combined experience acros...
Crawford Hoying Acquires Homewood Suites by Hilton Columbus OSU in Upper Arlington, Ohio
Crawford Hoying | September 11, 2023
STATE COLLEGE, Pa. (September 11, 2023) - Crawford Hoying is excited to announce the acquisition of Homewood Suites by Hilton Columbus OSU in partnership with award-winning, international hotel owner, operator and developer, Shaner Hotel Group. This is the fourteenth hotel within Crawford Hoying’s portfolio, which now includes more than 1,800 hotel keys. Homewood Suites is located at 1576 West Lane Avenue in the heart of Upper Arlington. Just 10 minutes from downtown Columbus and a two-minute drive from The Ohio State University, guests can enjoy staying steps away from some of the best shopping and dining that the city has to offer. The...
VICI Properties Inc. Completes Acquisition of Four Properties in Alberta, Canada in Sale-Leaseback Transaction With Century Casinos, Inc.
VICI Properties | September 7, 2023
Expands Partnership with Century Casinos, Inc. by Adding Four Additional Assets to Existing Master Lease NEW YORK — VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY)...
MCR Acquires the Courtyard by Marriott North Charleston
MCR | September 7, 2023
MCR’s latest acquisition in The Palmetto State is just 10 minutes from the Charleston International Airport. NEW YORK — MCR — the country’s 3rd-largest hotel owner-operator — has acquired the Courtyard by Marriott North Charleston, a four-story hotel with 138 rooms in North Charleston, South Carolina. The hotel was purchased with acquisition financing in place and is MCR’s fourth hotel in The Palmetto State. Opened in 2019, the hotel is located 10 minutes from Charleston International Airport and 20 minutes from beautiful Downtown Charleston. With strong leisure demand driven by nearby beaches and...
Calmwater Capital Acquires Banyan Cay Resort & Golf Club
Banyan Cay Resort & Golf Club | September 7, 2023
Sept. 7, 2023 – West Palm Beach, Fla. – Calmwater Capital, a direct commercial real estate bridge lender headquartered in Los Angeles, today announces its acquisition of Banyan Cay Resort & Golf Club. As the new property owner, Calmwater Capital affiliate U.S. Real Estate Credit III has immediately introduced financial and professional resources to reopen the golf course and club and complete the hotel, spa and fitness complex. Centrally located in West Palm Beach, the property most notably features Jack Nicklaus’ 300th Signature 18-hole course surrounded by West Palm Beach’s natural beauty. Extensive renovations to restore t...
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