Recent transactions include JLL’s Hotels & Hospitality Group closing on the sale of the Conrad Miami, which will be rebranded as an AKA property; Waramaug Hospitality acquiring a Radisson Hotel in Michigan that will be converted to a Doubletree; and more.
Conrad Miami hotel sold, to rebrand to AKA
JLL’s Hotels & Hospitality Group has closed the sale of the Conrad Miami, a 203-key, recently renovated hotel in Miami’s Brickell neighborhood.
JLL represented the seller, a joint venture consisting of Mast Capital and Angelo Gordon. A partnership between Electra America and Korman Companies purchased the hotel with plans to rebrand the property to an AKA.
Conrad Miami recently underwent a $14.5-million renovation to its guestrooms, public areas and F&B outlets. The property offers 203 hotel guestrooms and an additional 20 rooms in a rental management program. Amenities include the Nativo Kitchen and Bar, the Sky Pool Bar, the Spa at Conrad Miami, a rooftop lap pool, a fitness center and rooftop tennis courts.
The JLL Hotels & Hospitality team representing the seller was led by Managing Director Andrew Dickey, as well as Senior Managing Director Gregory Rumpel and Vice President Maciej Polek.
Waramaug acquires Radisson Hotel Lansing at the Capitol
Waramaug Hospitality, a privately held investment firm focused on premium-branded select-service and full-service hotels, has acquired the Radisson Hotel Lansing at the Capitol in Lansing, MI.
The 256-room property is the only full-service hotel in downtown Lansing, according to the company. It features an oversized lobby; on-site restaurant and bar; fitness center; two-story indoor pool; and more than 10,000 sq. ft. of meeting and function space. The second floor of the property connects to the Lansing Center, the city-owned 125,000-sq.-ft. convention center.
The property is one block from the Michigan State Capitol building and Michigan State University is four miles away.
Waramaug is planning a complete renovation of the hotel and will relaunch as a Doubletree by Hilton upon completion. Terrapin Hospitality will be managing the asset. Nate Sahn, EVP, CBRE, brokered the transaction.
Hawkeye Hotels acquires NJ property
Iowa-based Hawkeye Hotels has acquired the former Hampton Inn in Secaucus, NJ, continuing its expansion strategy into Northeast markets. This is the company’s first asset in New Jersey.
Hawkeye Hotels plans to reopen the seven-story, 151-room property as an independent hotel before the end of this year as the hotel undergoes an extensive redesign and renovation process.
The hotel is located near MetLife Stadium, Meadowlands Exposition Center, Javits Center and American Dream, and will offer amenities including complimentary breakfast, a business center, a fitness center and an indoor pool.
Hilco Real Estate sells Indiana Sleep Inn
Hilco Real Estate LLC has sold an 85-room Sleep Inn in Terre Haute, IN. Renovated in 2019, the three-story hotel features a lobby workstation, breakfast/dining area and a fitness center and sufficient parking in an easily accessible location. Nearby business drivers include Terre Haute Regional Hospital and Terre Haute Regional Airport all within a few miles from the hotel.
Terre Haute is a city of more than 60,000 people located directly on the Wabash River, which divides Illinois and Indiana. Less than three miles from the property is Indiana State University, which enrolls approximately 10,000 undergraduate students every year and attracts visiting family members, collegiate athletes and other out-of-town guests seeking nearby hotel accommodations.
