NATIONAL REPORT—Hotel Business is tracking transactions in the industry, including activity from CBRE Hotels, Waramaug and Mission Capital Advisors.
CBRE Hotels Closes Sale of Hampton Inn on Iowa-Illinois Border
CBRE Hotels has arranged the sale of the Hampton Inn Keokuk, a Mississippi River destination hotel with 63 guestrooms on the Iowa-Illinois border in Keokuk, IA. Douglas Johnson, first VP with CBRE Hotels represented the seller. The buyer is HK Corporation.
Waramaug Acquires Albuquerque Airport Hilton Portfolio
Waramaug Hospitality has acquired the 107-room Hilton Garden Inn Albuquerque Airport and 93-room Homewood Suites by Hilton Albuquerque Airport; both properties are in Albuquerque, New Mexico. Terrapin Investments and Management Corp., of Aspen, CO, has been retained to manage the hotels.
Mission Capital Advisors Arranges $19M Refi
Mission Capital Advisors has arranged $19 million of permanent, non-recourse financing for the Home2 Suites by Hilton Greenville Downtown, a 117-key, extended-stay hotel in Greenville, SC. The Mission Capital team of Beau Williams, Steven Buchwald, and Justin Hunt represented Sycamore Investment Group in arranging the non-recourse loan.