Transactions

Amara Resort & Spa

Aries Capital arranged a $1.75-million loan for the Amara Resort & Spa in Sedona, AZ. The 18-month, interest-only loan is the eighth that Aries has arranged for the borrower in the past seven years. Craig C. Johnson, Aries president and chief operating officer, originated the deal, while Andrea Riegsecker, executive vice president, closed. Aries Real Estate Fund is the investor.

Country Hearth Madison

David Mumford and Ed James of the Mumford Company's headquarters in Newport News, VA and Tom Sommer of Mumford's Chicago office facilitated the $1.425-million purchase of the Country Hearth Inn of Madison, IN by BAC Hotel Management. The seller was Lighthouse Lodging. BAC plans cosmetic renovations.

Days Inn of Pikeville

Musselman Hotels has acquired the Days Inn of Pikeville, KY from a Louisville-based firm in a deal arranged by Steve Kirby of the Mumford Company's Atlanta office and Tom Sommer of the firm's Chicago office. The Days Inn was transferred to Pikeville College for use as student housing.

Holiday Inn Express

McCain Hotels sold the Holiday Inn Express of North Little Rock, AR to Kilpatrick Hotels number Two, LLC in a Mumford Company-brokered deal. Mike Francis of Mumford's Dallas of office and Matt Winston of its Newport News, VA headquarters facilitated the transaction.

Hyatt Regency Phoenix

Jones Lang LaSalle Hotels represented Strategic Hotels & Resorts in the $96-million sale of the Hyatt Regency Phoenix to DiNapoli Capital Partners. The 696-key hotel is across the street from the Phoenix Convention Center.

Hilton Dallas Lincoln Centre

Ashford Hospitality Trust has closed on the $72.25-million cash sale of the Hilton Dallas Lincoln Centre to AP VEF Hilton Dallas Owner's, an affiliate of Apollo Real Estate Advisors. The sale equates to about $145,000 per key.

Northwoods Resort

The 148-room Northwoods Resort and Conference Center in Big Bear Lake, CA has been sold for $12.5 million to McSam Hotel Group. Robert Brauchli and Jigar Patel, senior associates in the San Diego office of Marcus & Millichap, represented seller WWW Asset One Corp. Scott Clawson of Marcus & Millichap's Chicago Downtown office and Michael Goldstein of Packard Hospitality represented McSam.

Sovereign Holdings

Sovereign Hospitality Holdings is a Geneva, Switzerland-based company formed by the M.A. Kharafi Group to acquire, finance and develop assets in the hotel, real estate and tourism industry in the United States and elsewhere. The Kharafi Group is based in Kuwait.

SpringHill Suites Wichita

RockBridge Capital closed on a first mortgage of $10.1 million to develop a 102-room SpringHill Suites in northeast Wichita, KS. The property will be developed, owned and operated by A.G. Holdings.

adjacent to a Residence Inn also owned by A.G. and financed by RockBridge.

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