Solstar Investments of Los Angeles has acquired the 120-room Marriott SpringHill Suites Hotel and the 108-room Marriott TownePlace Suites Hotel located in Henderson, Nev., outside Las Vegas. The 2009-built pair of hotels was acquired from Campbell Lodging, the original owner/developer, with GE Capital Franchise Finance providing the financing for the acquisition.
The purchase price was not disclosed.
“We are very excited about the acquisition of these two fine Marriott select service hotels,” said Steve Barklis of Solana Advisors, a partner in Solstar Investments. “The hotels are already doing well. With a change in management and completion of a new property improvement plan, we expect both hotels to significantly out-perform the market.”
New hotel management will be provided by Twenty Four Seven Hotels.
David Mirharooni of Brickstar Capital, a partner in Solstar Investments, expressed confidence in the overall Las Vegas marketplace. “Given our existing presence in the ever-growing Las Vegas market, we are very happy to be adding the Marriott Springhill Suites and TownePlace Suites Henderson to our investment portfolio in one of the premier hotel markets in the country.”
Solstar Investments, LLC is a joint venture of Solana Advisors and Brickstar Capital with offices in Los Angeles and Solana Beach. The company was established by Eddia Mirharooni, Steven Barklis, Gary Elam, and David Mirharooni to acquire and manage investments in hospitality and senior housing properties nationwide.