INTERNATIONAL REPORT—Transactions are happening across the country and abroad in the U.K. Here’s more on the recent hotel sales, acquisitions and refinancings:
Hawkins Way Capital Acquires Copley Square Hotel in Boston
Real estate investment firm Hawkins Way Capital revealed the acquisition of Copley Square Hotel, a historic 143-room property in Boston’s Back Bay. Hawkins Way Capital plans to update and reconfigure the guestrooms and improve the hotel’s common and retail areas. The hotel has more than 13,800 sq. ft. of amenity, food and beverage, and retail space. The property is close to Hynes Convention Center, Prudential Center, Fenway Park and Boston Public Gardens.
JLL Closes Sale of W Dallas Victory Hotel
JLL has closed the sale and arranged acquisition financing for the W Dallas Victory Hotel, a 252-room lifestyle hotel positioned in Uptown Dallas’ Victory Park. JLL marketed the property on behalf of the seller, Estein USA. A partnership between HN Capital Partners and Dunhill Partners Inc. purchased the asset. Additionally, JLL placed the three-year, floating-rate financing with three one-year extension options with Starwood Property Trust. W Dallas Victory is adjacent to the American Airlines Center, home to the Dallas Mavericks, the Dallas Stars and more than 260 annual events.
Hunter Hotel Advisors Arranges Sale of Homewood Suites in Clearwater, FL
Hunter Hotel Advisors has revealed that the Homewood Suites by Hilton St. Petersburg Clearwater has been sold to Hersha Hospitality Management (HHM) of Philadelphia. The hotel is adjacent to the Carillon Office Park, home to Raymond James, Franklin Templeton Investments among other employers. It is also proximate to both Tampa International Airport and St. Pete-Clearwater International Airport.
Snoqualmie, Muckleshoot Tribes Close Deal in Snoqualmie, WA
The Snoqualmie and Muckleshoot Indian Tribes revealed a historic agreement to transfer ownership of the Salish Lodge & Spa, as well as the land surrounding Snoqualmie Falls, to the Snoqualmie Indian Tribe. The total purchase encompasses approximately 45 acres of land in the Snoqualmie Tribe’s traditional territory. The purchase price was $125 million. The purchase includes the property north of and across State Route 202, as well as the Salish Lodge & Spa and the Snoqualmie Falls Gift Shop. The Snoqualmie Tribe said it will continue to operate the Lodge with current management company Columbia Hospitality Inc.
CHC Capital Arranges Refinance for Courtyard by Marriott in North Carolina
CHC Capital has arranged $10.5 million for the refinance of the Courtyard by Marriott in Fort Bragg, NC, for Trinity Hospitality. The loan was placed with a national lender and offered a 10-year term, 30-year amortization and a fixed interest rate. The 100-key property was developed by the sponsor in 2016 and the refinance transaction provided an opportunity to return a large amount of development equity to the sponsor. The hotel is near Fayetteville and Fort Bragg, one of the largest military complexes in the world and a major demand generator for the area.
PMZ Realty Capital Completes Refinancing for Marriott Courtyard Duluth Sugarloaf
PMZ Realty Capital LLC has completed a $12.5-million refinancing loan for the 115-key Marriott Courtyard Duluth Sugarloaf, in Duluth, GA, on behalf of Vision Hospitality Group. Vision Hospitality Group developed the Marriott Courtyard Duluth Sugarloaf and it opened in 2016. The 115-key property is located next to the Infinite Energy Convention Center & Arena.
Knight Frank and Christie & Co Complete Sale of Cotswold Inns & Hotels
Joint agents Knight Frank and Christie & Co have advised on the sale of Cotswold Inns & Hotels, a privately owned collection of seven hotels and inns located around the Cotswolds in the U.K., which also included two central Birmingham bars, to Fuller’s PLC. The freehold collection comprises Hare & Hounds Hotel, Manor House Hotel, Bay Tree Hotel, The Bear of Rodborough, The Close Hotel, The Lamb Inn and The Swan Hotel. In total, there are 201 en-suite bedrooms across all the properties.