NATIONAL REPORT—Dakota Mountain Lodge Homeowners Association, Lodging Partners and Berkadia have all completed transactions. Here’s a look at the recent acquisition and financing deals:
Dakota Mountain Lodge Homeowners Association Acquires Waldorf Astoria Park City
Dakota Mountain Lodge Homeowners Association has acquired the 159-guestroom and suites Waldorf Astoria Park City in Park City, UT. Located at the Canyons Village base of Park City Resort, Utah’s luxury resort by Hilton, has newly renovated rooms and suites, Powder restaurant and the Waldorf Astoria Spa as well as outdoor space with fire pits, a heated pool and Jacuzzis.
Lodging Partners Sells Hampton Inn Selma/Smithfield
Lodging Partners LLC, a member of Hotel Brokers International, has completed the sale of the 76-room Hampton Inn Selma/Smithfield in Selma, NC. The property sold to a regional owner/operator of select-service hotels. Lodging Partners exclusively represented the seller on this transaction, with the marketing and negotiations led by Ford Barton, principal of Lodging Partners LLC. The hotel is within the Raleigh-Durham metropolitan region.
Berkadia Secures Financing for Hotel Outside of Washington, DC
Berkadia has secured $19 million refinancing for the Hilton Garden Inn, Crystal City, a full-service hotel in Crystal City, a neighborhood in Arlington, VA. Director Matthew Raptosh and Associate Director Connor Wimsatt of Berkadia’s Hotels and Hospitality specialty team secured the loan on behalf of Sound Hospitality. Berkadia matched the borrower with a competitive, interest-only, non-recourse bridge loan just as they faced an upcoming maturity. Stonehill Strategic Capital provided the financing. The property is near the planned corporate headquarters for Amazon HQ2 and Ronald Reagan Washington National Airport. The hotel has 248 guestrooms, four meeting rooms and 4,290 sq. ft. of event space.