NATIONAL REPORT—Hotel Business is tracking transactions in the industry. Here’s a look at recent activity from MCR, Everwood Hospitality Partners, and more.
MCR Acquires New Haven Hampton Inn & Suites
MCR has acquired the 98-room Hampton Inn & Suites by Hilton New Haven-South-West Haven in Connecticut’s higher education mecca.
Everwood Hospitality Partners Completes Acquisition of Former Stockyards Bank Building
EHP has acquired the former Stockyards Bank Building in downtown Indianapolis. Additionally, EHP released plans to convert the historic building to the 128-room Aloft Indianapolis Downtown. Located at 136 E Market St., the 12-story structure, built in 1898, has served as law offices, a law library and a bank. Its most recent anchor tenant was Stockyards Bank & Trust.
Berkadia Hotels Group Completes $46.5M Sale of Upscale Portfolio
Berkadia’s has sold three-hotel property portfolio for for $46.5 million. The following properties were included in the deal: the Hampton Inn & Suites Nashville-Smyrna in Smyrna, TN; the Hilton Garden Inn Nashville-Smyrnain Smyrna, TN; and the Hyatt Place Phoenix-North in Phoenix.
Marcus & Millichap Arranges Sale of 45-Room Property
Marcus & Millichap has arranged the sale of Best Western Plus Northshore, a 45-room property located in Portland, TX. The buyer, a private investor, was secured and represented by Allan Miller, Chris Gomes, Andrew B Frosch, investment specialists in Marcus & Millichap’s Austin, Dallas, and Houston office’s.
Mission Capital Advisors Arranges $28.5M in Construction Financing
Mission Capital Advisors has arranged $28.5 million in non-recourse financing for the construction of a 218-key. The Mission Capital team represented a joint venture of Merrimac Ventures and Driftwood Acquisitions and Development in securing the loan from Bank OZK. The 19-story property will feature two Hilton-branded offerings: the 106-key Home 2 Suites and the 112-key Tru by Hilton.