Investment
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HFF closes $27M sale of waterfront development site in Sarasota, Fla.   9 Dec, 2014

HFF represented the seller, an affiliate of National Asset Management Agency (NAMA). Jacksonville, Florida-based GreenPointe Communities purchased the asset for $27 million. The property is entitled for the development of 695 residential units, 190,000 square feet of commercial space and 175 hotel...More>>

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Warmbrodt Hotel Investments sells the Holiday Inn Fort Smith   9 Dec, 2014

WHI was the exclusive adviser on behalf of the seller. The property was sold to an institutional investor at an undisclosed price. The purchaser plans renovations to the guest rooms and public spaces. The Holiday Inn Fort Smith-City Center is a full-service, nine-story, interior-corridor, atrium...More>>

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Marcus & Millichap sells Houston Holiday Inn   9 Dec, 2014

Jake Gaddy, senior associate and Steve Swenholt, associate, both in Marcus & Millichap's Austin office, represented the seller, a Houston-based developer. Chris Gomes, VP investments in the firm's Dallas office, along with Allan Miller, VP investments in San Antonio, represented the buyer, a...More>>

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Al Habtoor Group to spend $545M on Dubai development   9 Dec, 2014

The Dubai-based Al Habtoor Group plans to build two new hotels, 74 homes and a polo club in the city for an estimated $545 million. This uptick in construction the Habtoor Group's response to the growing property market in Dubai, where occupancy is sitting at 77.8 percent. In total, the Al Habtoor...More>>

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InnVest buys Hyatt Regency in Vancouver   9 Dec, 2014

The hotel was purchased for $140 million, the equivalent of $217,000 per room. Following completion of the sale, a Hyatt Hotels affiliate will continue to manage the hotel under a new long term management contract. The sale is expected to close this month.More>>

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NATHIC puts next-generation hoteliers in friendly fire with CEOs   8 Dec, 2014

Hospitality students from Michigan State University, DePaul University and New York University brought their best ideas to the annual hospitality school competition at the sixth annual North America Hotel Investment Conference (NATHIC), held Nov. 19-21 at the Hyatt Magnificent Mile in Chicago,...More>>

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Aries Capital arranges $8.9M loan for Texas Holiday Inn   8 Dec, 2014

Having completed a successful loan for a hotel development in Victoria, Texas earlier this year, Pride Management again sought Aries Capital's assistance to secure a loan for its Baytown property. Aries Capital was able to secure a new CMBS loan for the borrower to replace the property's existing...More>>

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Woodridge Capital continues San Francisco growth surge   8 Dec, 2014

Woodridge Capital Partners has acquired the Stanford Court Hotel in the Nob Hill section of San Francisco for an undisclosed price reports GlobeSt. It is the third hotel the group now has an interest in in the area, including the Fairmont San Francisco, which was acquired in May 2012, and the Mark...More>>

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Noble scoops up two Tampa area Marriott-branded hotels   8 Dec, 2014

Atlanta-based Noble Investment Group has acquired two hotels in Westshore, a business district of Tampa, Fla., in a deal totaling more than $35 million. The hotels are the 160-room Residence Inn Tampa Westshore and the TownPlace Suites Tampa Westhore Airport.More>>

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IHG takes $405M offer from Constellation on Le Grand in Paris   8 Dec, 2014

The expected sale of a luxury hotel in Paris, which Hotel Management reported on back in August, has now been confirmed: InterContinental Hotels Group has accepted a $405 million cash offer from Constellation Hotels Holding for Le Grand hotel in Paris.More>>




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