hotel real estate transactions
Avison Young Announces Recent Closings
Avison Young | June 27, 2019
ATLANTA – June 27, 2019 – Avison Young Hospitality Group announced that over the last several weeks the firm has closed a Marriott hotel in Pennsylvania, a select service hotel in DC and a resort hotel with golf in the northeast. The firm has 28 hotels under sale agreement with closings scheduled over the coming months and has closed 392 hotels since 2013....
Host Hotels & Resorts Sells the New York Marriott Marquis Retail and Closes of the Sale of the W New York – Union Square
Host Hotels & Resorts | September 25, 2018
BETHESDA, Md., Sept. 24, 2018 -- Host Hotels & Resorts, Inc. (NYSE: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it sold the New York Marriott Marquis retail, theater, and signage commercial condominium units (the "Retail"), to Vornado Realty Trust for a sale price of $442 million. In addition, the Company closed on the sale of the W New York – Union Square for a sale price of $171 million on September 6, 2018. "Today's announcements demonstrate our continued ability to identify, execute, and effectively monetize investment opportunities within o...
Sonnenblick-Eichner Company Arranges $29,200,000 of First Mortgage Financing for the Old No. 77 Hotel & Chandlery, New Orleans, LA on Behalf of Proven
Sonnenblick-Eichner Company | September 25, 2018
Beverly Hills, CA (September 25, 2018) -- Sonnenblick-Eichner Company has arranged $29,200,000 of interim first mortgage financing to refinance the Old No. 77 Hotel & Chandlery, a historic 167-room, full-service boutique hotel located in the heart of the Warehouse Arts District, just a few blocks from the French Quarter in New Orleans. The five-year floating rate loan was priced over LIBOR at a spread in the mid-300s. Loan proceeds are being used to refinance the existing acquisition loan, as well as provide a return of equity to the borrower. In June of 2015, the Hotel completed an extensive $14,000,000 ($94,000 per room) renovatio...
Vesta Hospitality Acquires Embassy Suites Jacksonville Baymeadows in Jacksonville, Florida
Vesta Hospitality | August 28, 2018
Vancouver, Washington, August 29, 2018 – Vesta Hospitality announced today that it has acquired the Embassy Suites Jacksonville Baymeadows hotel located in Jacksonville, Florida. The 277-suite hotel is now the largest in Vesta's growing portfolio. Rick Takach, Chairman and CEO of Vesta, made the announcement. The only full service, all-suite hotel in Jacksonville, the property recently underwent a top-to-bottom $15 million renovation and Vesta will make additional investments in select upgrades. Vesta will manage the property as well. The hotel is ideally located near downtown Jacksonville, one quarter mile east of I-95 and close ...
Paramount Lodging Advisors Team Sells Hampton Inn in Victoria, TX
Paramount Lodging Advisors | June 14, 2018
Victoria, TX—Paramount Lodging Advisors (PLA) has arranged the sale of the Hampton Inn Victoria, TX. Managing Director Kami Burnette and Senior Associate Hussain Waseem sold the property via the Real Insight Marketplace platform. The 68-room hotel is located just north of downtown Victoria and is proximate to all broader area Victoria demand. Future plans under new ownership include a significant renovation to meet Hampton's Forever Young standard. "The increasing commodities pricing is stabilizing the region and have presented a profitable opportunity for the new owner to add a premium brand to his hotel portfolio," stat...
Hotel Capital Acquires The Tremont Chicago Hotel at Magnificent Mile and Mike Ditka’s Restaurant
Hotel Capital, LLC | June 13, 2018
Hotel Capital LLC, a private equity real estate investment firm, is excited to announce a direct equity investment and acquisition of The Tremont Chicago Hotel at Magnificent Mile located in Chicago, Illinois. The Tremont Chicago Hotel and Mike Ditka's Steakhouse was acquired by Hotel Capital from seller Marriott International, Inc. The Tremont Chicago Hotel is a 16-story, 122-room, boutique hotel and is located in the heart of the Gold Coast between the world-renowned Magnificent Mile and Rush Street. The hotel will retain The Tremont name and undergo a multi-million dollar renovation which will include upgrades to the lobby, all new g...
Hotel AG Announces Recent Closings
Hotel AG | August 24, 2016
ATLANTA – August 24, 2016 – Hotel AG announced today the firm has closed 16 hotel transactions since its last press release. The transactions were located across 11 states and five regions of the US including West Coast, South Central, North Central, Northeast and Southeast. The transactions were comprised of several brands such as Marriott, Hilton, IHG, among other brands and 2 independent hotels located in Pennsylvania and San Francisco. Hotel AG brokers involved in these transactions were Brad Sinclair, Andy Broad, Michael Bernath, Eric Gunderson, Rick George, Niven Patel, Wendy Blissett, Rex Cagle and Thierry Roch. H. Ke...
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