3 Transactions to Know

NATIONAL REPORT—Hotel Business is tracking transactions. Lodging Partners, Phoenix American Hospitality and North Star Hospitality have been involved in deals. Here are the details:

North Star Hospitality Acquires Comfort Inn in Staunton, VA
On behalf of Gateway Hospitality Staunton, CAS Associates has arranged the sale of a Comfort Inn located in Staunton, VA. The 96-room hotel was acquired by North Star Hospitality. The new ownership group will continue the affiliation with Comfort Inn, and has plans to make upgrades to the asset.

Phoenix American Hospitality Closes $50 Million REG D Hotel Investment Offering
Phoenix American Hospitality has successfully closed its $50 million REG D offering, American Hospitality Properties Fund III. The American Hospitality Properties Fund III was created with a focus on identifying and acquiring limited and upscale select-service hotels in the United States, which provide cash flow and value-added opportunities for the company.

The American Hospitality Properties Fund III LLC acquired 17 upper-midscale and upscale hotels in the United States that have a strong brand affiliation. The group of Hyatt, Marriott and Hilton brand hotels include the following:

  • Aloft Rogers-Bentonville
  • Courtyard by Marriott Baton Rouge Siegen Lane
  • DoubleTree by Hilton Charlotte Airport
  • Fairfield Inn & Suites Jonesboro
  • Hampton Inn & Suites Fort Myers Beach/Sanibel Gateway
  • Hilton Garden Inn Fort Wayne
  • Homewood Suites by Hilton Fort Wayne
  • Hyatt Place Atlanta/Alpharetta/North Point Mall
  • Hyatt Place Charlotte/Arrowood
  • Hyatt Place Dallas/Park Central
  • Hyatt Place Greenville/Haywood
  • Hyatt Place Roanoke Airport/Valley View Mall
  • Hyatt Place Topeka
  • Residence Inn by Marriott Baton Rouge Siegen Lane
  • Residence Inn by Marriott Cape Canaveral Cocoa Beach
  • TownePlace Suites Fayetteville North/Springdale
  • TownePlace Suites New Orleans Metairie

Lodging Partners Arranges Sale of Myrtle Beach Hotel
Lodging Partners has arranged the sale of the 89-unit Country Inn & Suites Myrtle Beach, SC. Ford C. Barton, principal of Lodging Partners, exclusively represented the seller on this transaction.