Stockdale Capital Partners has acquired The Marker Hotel San Francisco, while Stonehill has originated a $79.8-million loan for the recapitalization and acquisition of a 12-property portfolio and DSH Hotel Advisors arranged the sale of a Sleep Inn outside of Tampa.
Stockdale Capital Partners acquires The Marker Hotel San Francisco
Stockdale Capital Partners, a Los Angeles-based, vertically integrated real estate investment firm, has acquired The Marker San Francisco for $77 million from Pebblebrook Hotel Trust.
The Marker, a 208-key hotel built in 1910, is located blocks away from Union Square and the Moscone Convention Center.
Stockdale plans to update and reposition the hotel while stabilizing the hotel operations as the San Francisco lodging market continues to recover.
“The Marker is Stockdale Capital Partners’ first San Francisco hotel acquisition, and we look forward to building upon its success as one of the city’s premier hotels,” said Bill Doak, managing director, hospitality, Stockdale Capital Partners. “Stockdale Capital Partners is continuing to capitalize on the travel and leisure sector’s recovery as we add to our hotel portfolio with properties throughout the country with a focus on the west and southwest regions.”
Stonehill originates loan for extended-stay portfolio
Stonehill has originated a $79.8 million, three-year, floating-rate bridge loan for New York-based Churchwick Partners to support the recapitalization and acquisition of a 12-property, extended-stay hotel portfolio consisting of 1,432 rooms.
“Our sponsors benefit from experienced real estate lenders able to originate and close complex transactions,” said Nick Baer, VP, business development, Stonehill. “With funding options from traditional lenders limited for hotels and other commercial real estate properties, we are pleased to provide Churchwick Partners with the lending solution, financial capacity and hospitality expertise to close this transaction in a challenging capital market environment.”
The portfolio consists of:
- 158-room Sonesta ES Suites Cleveland Airport in Middleburg Heights, OH
- 144-room Sonesta ES Suites Chicago-Lombard in Lombard, IL
- 128-room Sonesta ES Suites in Birmingham, AL
- 128-room Suburban Extended Stay Hotel Westminster Denver North in Westminster, CO
- 124-room Candlewood Suites Syracuse Airport in Syracuse, NY
- 120-room Sonesta ES Suites St. Paul Airport in Egan, MN
- 121-room Simply Suites Detroit Southfield in Warren, MI
- 106-room Sonesta ES Suites Dublin-Columbus in Columbus, OH
- 106-room Sonesta ES Suites in St. Louis, MO
- 105-room Sonesta ES Suites in Memphis, TN
- 98-room Simply Suites in Knoxville, TN
- 94-room Sonesta ES Suites in Montgomery, AL
DSH Hotel Advisors arranges sale of Sleep Inn in Wesley Chapel, FL
DSH Hotel Advisors Managing Principal Dennis S. Hopper has arranged the sale of the 77-room Sleep Inn Wesley Chapel – Tampa North for $8.825 million or $114,610 per room. DSH Hotel Advisors represented the seller, NARD Inc., and the buyer, QDI 3 LLC.
The brokerage held the exclusive listing with the seller and the property was sold privately. The sale contributes to DSH Hotel Advisors’ significant gain in market share throughout Florida and the Southeast U.S., according to the company.
“We were excited to win this listing assignment,” said Hopper. “This is a property that hasn’t traded hands since it was built in 1997, and it is exactly what most hotel investors are looking for. The property is situated in Wesley Chapel, FL, which borders Tampa and is one of the fastest-growing markets in the U.S. We receive calls all day from hotel investors that are looking for hotels in the Tampa Bay Area. This location specifically, is a high barrier-to-entry hotel market, and we are looking forward to seeing the new owners succeed here.”
The Sleep Inn Wesley Chapel is located adjacent to The Grove at Wesley Chapel, and within a short distance to several restaurants and various shopping locales including Tampa Premium Outlets and the Shops at Wiregrass. Also nearby is the University of South Florida, and Busch Gardens and Adventure Island theme parks. Downtown Tampa, Raymond James Stadium and Tampa International Airport are all located within 30 miles of the property.