Access Point Financial | April 6, 2020
Recognized leader in hospitality-focused lending completes full loan funding in just 15 days amid coronavirus outbreak GREEN BAY, WIS. - April 3, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Lodging Opportunity Fund REIT (LOF REIT) to refinance the Delta by Marriott in Green Bay, WI. LOF REIT worked with Access Point Financial to secure a $9.2 million loan on the property. The REIT chose APF as its lending partner due to the company’s ability to be nimble when working with a limited...
RealINSIGHT Marketplace | March 3, 2020
RealINSIGHT Marketplace and Berkadia Hotels & Hospitality are pleased to announce the closing of the Hampton Inn in Mobile, Alabama at 104% of Reserve. Located along Interstate 10, the 80-room limited-service hotel was built in 1994. Due for a renovation, Berkadia and RealINSIGHT Marketplace marketed the property with a focus on maximizing profits and closing within a tight timeframe. The Broker and the Seller selected RealINSIGHT Marketplace to assist in developing a sales strategy which provided investors the confidence to enter into a non-contingent purchase agreement with a 10% hard deposit on day one. By ensuring investors had ...
RobertDouglas Advises Geolo Capital and JW Capital Partners on the $120,000,000 Sale of the Thompson Washington, D.C.
RobertDouglas | January 27, 2020
New York – January 27, 2020 - RobertDouglas announced today that it advised a joint-venture between Geolo Capital and JW Capital Partners in arranging the forward-sale of the Thompson Washington, D.C. to Union Investment, a German institutional fund manager, for $120,000,000. “The opportunity to participate in the development of the Thompson Washington, D.C. attracted a wide range of investment options. Ultimately, Union Investment offered the most attractive structure though a sale-leaseback,” commented Evan Hurd, Principal and Managing Director. “Although the sale-leaseback model is commonplace in most European markets, it is sti...
Avison Young | April 11, 2019
ATLANTA – April 11, 2019 – Avison Young Hospitality Group announced today the firm closed on its 15th hotel transaction of the year with year to date sales totaling 260 million. Since 2013, the Avison Young Hospitality Group has closed 106 Marriott branded hotels, 72 Hilton branded assets, 49 IHG branded assets and 158 historic, upscale boutique, resort and other branded hotels. ...
Paramount Lodging Advisors Sells Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income Property in OR
Paramount Lodging Advisors | January 31, 2019
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland's Rustic Lodges & RV Park and Ireland's Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional manageme...
Hotel Investment News – Leisure Real Estate Advisors, LLC Announces the Sale of the Fairfield Inn & Suites, Downtown, Wichita, KS
Leisure Real Estate Advisors, LLC | August 3, 2018
Leisure Real Estate Advisors, LLC, (LREA) is pleased to announce it has arranged the sale of the Fairfield Inn & Suites downtown, Wichita, KS, Leisure Real Estate Advisors represented a Wichita based investor. Four G, LLC in the transaction. Jim Korroch of Landmark Hotel Advisors, LLC, in an affiliate relationship with LREA, also assisted FourG and facilitated the sale. Midas Old Town Wichita, LLC, an investment group based out of St. Louis, MO, purchased the 131 unit hotel for an undisclosed price. The listing price was $12,700,000. "The Marriott brand, especially a city center based Fairfield Inn & Suites, will always attract ...
CBRE Group, Inc. | June 11, 2018
Newport Beach, California – June 11, 2018 – CBRE Hotels has arranged the sale of the 86-room West Inn & Suites in Carlsbad, California for an undisclosed price. CBRE Hotels represented the seller, West Real Estate LLC, who had developed the hotel along with the West Steak & Seafood Restaurant, Bistro West Restaurant, and a gas station/minimart at Cannon Road and Interstate 5 in 2006. The buyer was an affiliate of San Diego-based Pacifica Companies. The three-story upscale boutique hotel features high-end finishes and focuses on detail serving both the leisure and corporate markets. The proximity to LEGOLAND, Palomar ...
DiamondRock Acquires The Landing Resort & Spa in Lake Tahoe, California for $42 Million, or $545,000 Per Key
DiamondRock Hospitality | March 2, 2018
BETHESDA, Md., March 1, 2018 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has acquired The Landing Resort & Spa ("The Landing" or "Resort"), a luxury resort in Lake Tahoe, California, for $42 million, or $545,000 per key. The acquisition represents a 7% yield on 2017 Hotel Adjusted EBITDA. The Landing Resort & Spa is a premier luxury resort with one of the best locations in Lake Tahoe. The Landing was ranked as a TripAdvisor Traveler's Choice Award Top 20 Hotel in the US and Condé Nast Readers' Choice Award #1 resort in Northern California in ...
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