Who’s Buying, Selling or Financing?

INTERNATIONAL REPORT—Properties are changing hands and securing financing. Here’s a look:

JLL Arranges Sale, Secures Financing for Kimpton Ink48 Hotel

JLL Hotels & Hospitality advised a global real estate investment manager on the sale of the 222-key Kimpton Ink48 Hotel, located in Manhattan’s Midtown West submarket. JLL also secured acquisition financing for the buyer.

Senior Managing Director Jeffrey Davis and SVP Stephany Chen led the JLL team on the sales transaction. Managing Director Kevin Davis and VP Barnett Wu led the financing efforts.

Kimpton Ink48’s amenities include more than 6,000 sq. ft. of meeting space and a 24-hour fitness center. The hotel also offers two comprehensive food and beverage operations: The Press Lounge, a rooftop bar offering 360-degree views of Manhattan, and Print, a full-service restaurant, both operated and owned by a third party.

Hunter Hotel Advisors Completes Sale of SpringHill Suites Ashburn/Dulles VA

Hunter Hotel Advisors has completed the sale of the SpringHill Suites Ashburn/Dulles Virginia to SAK Developers LLC, a private investment group based in Richmond, VA. The hotel was built in 2009 and is located near Dulles International Airport, just outside Washington, DC.

The institutional seller wished to remain anonymous.

Seven-Acre Parcel Purchased in Mammoth, CA

The Little Nell Hotel Group, a division of Aspen Skiing Company, has purchased nearly seven acres at the base of Mammoth Mountain Ski Resort in Mammoth, CA.

The company intends to develop a Limelight-branded hotel and residences to complement its existing owned and managed portfolio. Since being formally introduced in January 2019, this is the first land purchase made by the company, which is actively seeking acquisition and development opportunities in and out of mountain markets.

Crystal Investment Property Brokers the Sale of Camas Hotel

Crystal Investment Property LLC (CIP) has brokered the sale of the Camas Hotel in Camas, WA. CIP, a licensed Washington brokerage, represented the buyer in the sale.

Camas Hotel is a historic boutique hotel located in the heart of historic downtown Camas. The 24-key select-service hotel was built in 1911 and renovated in 2014 and has both European and Ensuite rooms and luxury amenities. The property includes an atrium for events for intimate gatherings of up to 25 people.

Hard Rock Finalizes Cincinnati Deal

Along with VICI Properties Inc., Hard Rock International has completed the Jack Cincinnati Casino transaction. Through the joint purchase, Hard Rock has acquired the operating assets of the casino, while VICI owns the land and real estate assets.

While the casino will continue to operate under the current branding, Hard Rock Casino Cincinnati will rebrand and open in spring 2020. The property is situated on 22 acres in the Broadway Commons area of downtown Cincinnati and has 100,000 sq. ft. of gaming space with approximately 1,800 gaming machines and 100 table games. Additionally, the property contains 33,000 sq. ft. of meeting space, six restaurants and two bars. New property improvements will be announced by Hard Rock at a later date.

Barnsdale Hall Hotel Up for Sale

Knight Frank, on behalf of trustees, has put up for sale Barnsdale Hall Hotel on the shores of England’s Rutland Water, in the heart of the nature reserve. The lakeside resort is situated on about 55-acres of gardens and grounds.

Barnsdale Hall was the family hunting lodge of the sixth Earl Fitzwilliam, where he hosted royalty, including Edward, the late Duke of Windsor, along with the cream of England’s aristocracy. The hotel has 66 guestrooms, 31 lodges and 18 apartments, 11 function suites, four bars and restaurants, leisure and spa facilities, a swimming pool, squash and tennis courts, air-conditioned studio and gym and spa.