Hodges Ward Elliott's Focused Service Division represented CSS Starkville, LLC in the $6.35-million sale of the Comfort Suites in Starkville, MS. The buyer is Mississippi-based Starkville Hotel Group II. Anthony A. Falor, COO of Hodges Ward Elliott, handled the transaction.
Courtyard, Residence Inn San Antonio
Aztec Group has arranged a $28.05-million construction loan for the Courtyard and Residence Inn in San Antonio. Concord Hospitality Enterprises of Raleigh, NC is developing and will operate both properties.
Hostmark Hospitality Group added the Hotel Blake in Chicago to its management portfolio.
Renaissance Boston Waterfront
Senior managing directors Riaz Cassum and Michael Tepedino, along with Greg LaBine, all of Holliday Fenoglio Fowler, arranged $140-million in financing for the recently opened Renaissance Boston Waterfront Hotel. The buyer is Loeb Partners Realty.
Rockland Radisson, Milford Sheraton
The Rockland Radisson Hotel and the Milford Sheraton Hotel, both in Massachusetts, were sold to the Linchris Hotel Corporation on behalf of Ashford Hospitality Trust. Hodges Ward Elliott's Tim Southard worked with the buyer.
Sandy Bay Motor Inn
In early June, Wason Associates Hospitality Real Estate Brokerage Group facilitated the sale of the Sandy Bay Motor Inn in Rockport, MA. to Local Yokel, LLC. The sale price exceeded $2 million.
Strategic Capital Solutions
Strategic Capital Solutions formed the Dedicated Hospitality Financing Program in an effort to fund up to $300 million of debt and equity investment in properties and construction projects throughout the U.S, the Caribbean, Latin America, the Middle East and Europe. The program was formed to combat turmoil in the credit markets, SCS says.
Accor North America acquired a Studio 6 property in Greensboro, NC. The former Residence Inn is the company's first Studio 6 acquisition in more than seven years.
Virginia Crossings Resort
Merritt Capital Investors acquired the 183-room Virginia Crossings Resort in Glen Allen, VA for $18 million in a joint venture with an institutional partner. Arranging the joint venture was Keystone Realty Capital LLC. Wyndham Hotels and Resorts manages the four-diamond property as the Wyndham Virginia Crossings Hotel and Conference Center.
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