Hotel
DAD Acquires San Diego Hotel for $86M
The purchase of the 353-key Marriott Mission Valley marks the company’s first California foray. The owner also plans to develop a second property on the same site.
London Hotel Portfolio Changes Hands for $1.3B
Queensgate Investments acquired the four upscale properties from Grange Hotels and has an agreement with Fattal Hotel Group, which will reposition and run the properties.
Platinum Eagle Completes $1.4B Merger
The new company, Target Hospitality, now holds a major portfolio of housing facilities serving the oil and gas industry, amounting to a 20 percent share of this niche market.
Skanska to Build Scandinavia’s 1st Net-Zero Hotel
Working on behalf of Fabege, the company will develop a $51 million property in Solna, scheduled for completion in 2021.
Choice Hotels Opens Tampa Property
Located close to MacDill Air Force Base, the 77-key Sleep Inn & Suites property offers quick access to the city’s downtown.
HREC Brokers Midwest Hotel Portfolio Sale
Acting on behalf of The Raymond Group and North Central Group, the firm sold three Hampton Inn properties in Wisconsin and Iowa.
Manhattan Luxury Hotel Gets $31M Refi
Madison Realty Capital originated the loan for the 81-key GEM Hotel in Chelsea. The sponsor acquired the property, which previously served as a residential building, in 2007.
Ft. Lauderdale-Area Marriott Hotel Breaks Ground
The project will feature 171 rooms in a 10-story building located within walking distance of the beach and less than 8 miles from Fort Lauderdale-Hollywood International Airport.
Blackstone Sells Downtown Philadelphia Hotel
A new owner has emerged for the 757-key property, which will regain the Sheraton brand following a $28 million renovation as part of a new franchise agreement with Marriott International.
Atlanta Hotel Lands $31M Refi
HFF arranged the loan for Sheraton Suites Galleria-Atlanta, which has undergone more than $11 million in upgrades since last purchased in 2013.