Hotel Transactions

* Noble Investment: The Noble Investment Group acquired the Courtyard by Marriott Columbus Downtown near The Ohio State University. The 149-room hotel is in the city’s Arena District.

* Santa Ana: Trigild acquired the 121-room Santa Ana Hampton Inn & Suites in partnership with Blu Hotels and Pacifica Real Estate Group for an undisclosed price. A planned $1-million renovation is in the works.

* HEI Hotels: The 170-room Stoneleigh Hotel in Dallas was acquired by HEI Hotels & Resorts. HEI also bought the 115-suite Residence Inn Clearwater Downtown in Clearwater, Fla.

* Far East: The Far East Hospitality Trust entered into a sale and purchase agreement with the Straits Trading Company to acquire the Rendezvous Grand Hotel Singapore and Rendezvous Gallery in Singapore for approximately $213 million.

* Hyatt Union: Hersha Hospitality Trust closed on the Hyatt Union Square New York from developer McSam Hotel Group for $101 million.

* Residence Inn: Inland American Lodging Group acquired the 14-story, 228-room Residence Inn by Marriott Denver City Center and adjoining 448- space parking garage for $80 million.

* Modus Hotels: Washington D.C.’s 75-room Normandy Hotel was acquired by Modus Hotels for $16 million.

* Radisson Blu: Hospitality Property Fund entered into a sale agreement with Savana Property to acquire the Radisson Blu Gautrain hotel in Johannesburg, South Africa, for approximately $48 million.

* W New Orleans: Starwood Hotels & Resorts completed the sale of the W New Orleans to Chesapeake Lodging Trust for $65 million. The W New Orleans – French Quarter was earlier sold to Chesapeake Lodging Trust in March 2013 as well. Chesapeake Lodging will renovate the 410-room property.

* Grace Hotels: Grace Hotels entered the North African region with the acquisition of the Les Terres M’Barka boutique hotel. The 18-suite property will reopen in the fourth quarter of 2013 after renovation.

* GF Management: The 123-room Hilton Garden Inn Orlando North/Lake Mary was acquired by GF Management affiliate HGILM Associates. The hotel will remain open during a $2 million renovation.

* Ashford Hospitality: The 142-room Pier House Resort and Caribbean Spa in Key West, Fla., was acquired by Ashford Hospitality Trust for $90 million. Remington Lodging will replace the current management.

* Wyndham reflag: A Los Angeles-based private real estate investment and development firm acquired the 393-room Baltimore Hunt Valley Inn in Hunt Valley, Md., for an undisclosed amount. The owner plans to invest $9.5 million.

* Manchester Marriott: The 148-room Marriott Victoria & Albert Hotel in Manchester, UK, was sold for approximately $30 million to an undisclosed buyer. The hotel was sold by Jones Lang LaSalle.

* Carey Watermark: Carey Watermark Investors acquired the 133-room Hampton Inn Birmingham-Colonnade in Alabama for $14.4 million. The hotel will reportedly not change its flag.

* Anguilla Hotel: Adventurous Journeys Capital Partners acquired the 55-room Malliouhana Hotel & Spa in Anguilla for an undisclosed amount.

* Back Bay: Loews Hotels & Resort acquired the 225-room Black Bay Hotel in Boston. The 356-room hotel will convert to the Loews Hotels brand, with an $8-million renovation plan.

* La Jolla: Interwest Capital of La Jolla, Calif., purchased the 249-room Crowne Plaza San Marcos Golf Resort hotel in Chandler, Ariz., for $11 million.

* RockBridge: RockBridge Partners, a division of RockBridge, and Concord Hospitality Enterprises, acquired the 167-room Renaissance Meadowlands Hotel. The hotel will undergo a $5.25-million renovation.

* Houston Courtyard: Chatham Lodging Trust acquired the 197-room Courtyard by Marriott Houston Medical Center hotel in Houston for $34.75 million. The hotel is continuing a $7.1-billion capital investment planned through 2014.

* Waldorf Astoria: GIC Real Estate, the real estate arm of the Government of Singapore Investment Corporation, completed its purchase of the 740-room Arizona Biltmore Resort and Spa in Phoenix; the 780-room Grand Wailea Resort in Maui, Hawaii; and the 796-room La Quinta Resort & Club, La Quinta, Calif. KSL Group will act as asset manager.


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