Hotel
Carlyle Group, Explorer Investments Acquire Portuguese Resort
The joint venture purchased the 194-key Penha Longa Hotel & Golf Resort in Sintra, Portugal. A CBRE team advised the buyers in the transaction.
Lee & Associates Brokers LA-Area Inn Sale
Y&C Pacific paid roughly $8 million for Good Nite Inn in Whittier, Calif. Andy Investment Co. sold the 102-key asset after three decades.
MCR Acquires Baltimore-Area Homewood Suites
The 147-key hotel in Linthicum, Md., located near Baltimore-BWI Airport, recently underwent a multi-million-dollar renovation. MCR did not disclose the purchase price for the asset.
Xenia Sells Residence Inn in $92M Deal
Situated in Downtown Denver, the 228-key property is close to more than 25 million square feet of Class A office space, a dense residential population and more than 45,000 college students.
MGM Resorts to Receive $638M for Vegas Property Repositioning
MGM Growth Properties will pay the global entertainment company for the transformation of the former Monte Carlo Resort and Casino into the new Park MGM and NoMad Las Vegas hotels.
AD1 Global Acquires $93M Hotel Portfolio
Seller Lingerfelt Commonwealth Partners spent $8.5 million on renovating the properties during its three-year ownership. The five assets are located in Orlando, Atlanta and Charlotte. N.C.
Lightstone Secures Construction Loan for FL Moxy Hotel
Canyon Partners Real Estate and CapitalSource provided an equity and debt package for the 202-key Moxy South Beach. This marks Canyon’s second investment with Lightstone.
Baywood Hotels Expands in Ithaca, NY
The company has acquired a 106-key Fairfield Inn & Suites near Cornell University and Ithaca College, which are home to approximately 28,000 students.
Trinity Investments JV Buys Grande Lakes Orlando Resort
In a partnership with Elliott Management, the company paid a reported $900 million to purchase the 400-plus-acre property, which includes two hotels and a Greg Norman–designed golf course.
RivieraPoint Tops Off Orlando Hotel
The 101-key La Quinta Del Sol is part of a dual-branded project, which will also include a 98-key Tryp by Whyndham Seaworld.