Hotel Business Journal Mar/Apr 2009 : Page 2DONE DEALS HOTEL JOURNAL • acquisitions WYNDHAM GARDEN CHELSEA HOTEL (NEW YORK) TYPE: 124-room, limited- service property BUYER: Gemini Real Estate Advisors SELLER: FGC 37West24, LLC BROKER: Undisclosed PRICE: $39 million CAPITAL SOURCE: Undis- closed SPECIFICS: The sale occurred as the 17-story new-build hotel prepared to open. The seller is an affiliate of the McSam Hotel Group. MICROTEL INN & SUITES (INDIANAPOLIS) TYPE: 76-room, limited-service property BUYER: Shyam Sunder, Inc. SELLER: Gremi and Sons, LLC BROKER: Baltes Commercial Realty, Ltd. PRICE: $2.4 million CAPITAL SOURCE: Undisclosed SPECIFICS: The three-story hotel, which includes 11 suites, was built in 2000 and features an indoor swimming pool. new construction CAMBRIA SUITES WASHINGTON (WASHINGTON, PA) TYPE: All- suites, 103-unit property OWNER: Adios Associates LP (A joint ven- ture of Horizon Properties Group, LLC and Madison Realty Group, Inc.) OPERATOR: Adios Associates LP COST: $100,000 per key, plus land STATUS: Opened January 2009 SPECIFICS: Located at 455 Racetrack Road, the property is the fifth Cambria Suites in Pennsylvania. Features in- clude Reflect, a bistro dining area; Refresh, a fitness cen- ter; Refill a 24/7 sundries shop; and 1,000 square feet of meeting space. ALOFT CHARLOTTE UPTOWN (CHARLOTTE, NC) TYPE: Lifestyle property OWNER: Noble Investment Group OPERATOR: Noble Investment Group COST: Not disclosed STATUS: Opened January 2009 SPECIFICS: The Aloft is the first property in the state for the brand. The hotel is a component of the $275-million, mixed-use EpiCentre complex. The property features guestrooms with nine-foot ceilings; 42-inch, flat-panel televisions; and oversized windows. FAIRFIELD INN AND SUITES BY MARRIOTT (LAKELAND/PLANT CITY, FL) TYPE: 87-room property OWNER: Shaner Select Services Hotels II, LLC OPERATOR: Shaner Hotels COST: Not disclosed STATUS: Opened January 2009 SPECIFICS: Located between Orlando and Tampa, FL, the three-story property features a business library, a 24/7 grab-and-go food and beverage area, a lounge, an out- door heated pool and a fitness center. BLACK ROCK OCEANFRONT RESORT (UCLUELET, BRITISH COLUMBIA) TYPE: 71-suite, 62- beach-suite resort OWNER: Strata Hotel Development OPERATOR: Bou- tique Hotels and Resorts of British Columbia COST: $50 million STATUS: Opened January 2009 SPECIFICS: On a promontory overlooking the Pacific Ocean on the west coast of Vancouver Island, the prop- erty offers studio, one- and two-bedroom suites; three pools, a restaurant, a lounge and a wine cellar. A spa is slated to open this year. NOVOTEL BRISBANE AIRPORT (BRISBANE, AUSTRALIA) TYPE: Upscale, 156-room property OWNER: Kenlynn Properties Australia. OPERATOR: Accor COST: Not disclosed STATUS: Slated to open October 2009 SPECIFICS: The hotel will be part of a mixed-use district. It will feature a rooftop terrace, a gym, a lap pool and sauna, a lobby bar, six meeting rooms and underground parking. WESTIN AIRPORT (TAMPA, FL) TYPE: Full-service, 225-room property OWNER: Impact Group II, LLC OPERATOR: Impact Management, Inc. COST: Not disclosed STATUS: Opened January 2009 SPECIFICS: Originally slated to open in March, Hardin Con- struction Co. was able to get the 16-story property open in time for Super Bowl XLIII on Feb. 1. The hotel features the Aquaknox restaurant and a rooftop bar plus a five- level parking garage. HAMPTON INN (TAMPA, FL) TYPE: 80-room, limited- service property BUYER: Bay View One, LLC SELLER: Supertel Hospitality BROKER: Mumford Co. PRICE: $7.4 million CAPITAL SOURCE: An eastern Florida regional bank SPECIFICS: The purchaser is planning extensive renovations to the three-story property. HOLIDAY INN NORTHEAST (SACRAMENTO, CA) TYPE: 230-room, full-service property BUYER: Khanna Enterprises SELLER: Carlyle Group TREASURE ISLAND HOTEL & CASINO (LAS VEGAS) TYPE: 2,885-room, full-service property BUYER: Ruffin Acquisition, LLC SELLER: MGM Mirage BROKER: Undisclosed PRICE: $775 million CAPITAL SOURCE: Undisclosed SPECIFICS: The 36-story, 16-year-old property on the Las Vegas Strip, which underwent an $80-million renovation a few years ago, includes a 90,000-square-foot casino and 18,000 square feet of meeting space. BROKER: PKF Capital PRICE: $19 million SPECIFICS: The hotel features 16,000 square feet of meeting space. RADISSON FORT WORTH SOUTH HOTEL (FORT WORTH, TX) TYPE: 247-room, full- service property BUYER: Chhatrala Hotels SELLER: Allegiance Hospitality BROKER: Undisclosed PRICE: $12 million CAPITAL SOURCE: Undisclosed SPECIFICS: The hotel, which recently completed a $5-mil- lion renovation, is located five miles from downtown Fort Worth and 18 miles from the Dallas-Fort Worth Airport. BAYMONT INN & SUITES (DECATUR, IN) TYPE: 60-room, limited-service property BUYER: Seth, Inc. SELLER: Shreeji, Inc. BROKER: Baltes Commercial Realty, Inc. PRICE: $1.8 million CAPITAL SOURCE: Undisclosed SPECIFICS: The two-story, 11-year-old hotel features a meeting room, an indoor swimming pool and a fitness room. Publication List |
