TRANSACTIONS

Larry Blumberg & Associates

Dothan, AL-based Blumberg will open or start construction on six hotels this year. The properties scheduled to open are all in Florida: a 79-room SpringHill Suites in St. Petersburg/Clearwater, an 84-room Courtyard by Marriott in Panama City and an 85-room Hampton Inn & Suites in Pensacola.

Courtyard, Bowling Green, KY

Equity Inns, Inc. agreed to pay $6.9 million for a 93-room Courtyard by Marriott in Bowling Green, KY. Seller is a New York-based partnership. LinGate Hospitality will manage the property.

Fairfield Inn, Fenton, MO

Dominion Hospitality Group sold its 106-room Fairfield Inn St. Louis Fenton for $4.4 million to Sioux Falls, SD-based The Summit Group.

GMAC Commercial Mortgage Corp.

The firm recently provided financing for several hospitality projects: a $ 50-million interim, floating-rate loan for the National Conference Center in Lansdowne, VA; a $29-million interim, floating-rate loan for the Doubletree Rosemont (IL); and a $51.5-million permanent, fixed-rate loan for the Sheraton Premiere in Vienna, VA.

Holiday Inn, Morgantown, WV

Lodgian, Inc. sold its 147-room Holiday Inn in Morgantown, WV to an undisclosed buyer for $3 million. The company has sold 14 hotels since 2003, when it announced a plan to dispose of non-strategic assets.

Hostmark Hospitality Group

The Schaumburg, IL-based management firm recently secured contracts to operate two additional properties: the 151-suite Blue Lagoon Hotel & Suites near the Miami airport and the 228-room Holiday Inn Oakbrook Terrace (IL). The Blue Lagoon was formerly an AmeriSuites and will be converted to a SpringHill Suites by Marriott.

Miramar Hotel, Santa Barbara, CA

Ty Warner Hotels & Resorts will acquire the Miramar Hotel in Santa Barbara from Ian Schrager and Miramar Holdings LLC. According to news reports, the purchase price is about $45 million.

Radisson Dallas North

Carlson Hotels Worldwide has acquired full ownership of the 296-room Radisson Hotel Dallas North in Richardson, TX from co-owner Olympus Real Estate Partners.

RockBridge Capital

The Columbus, OH-based capital firm provided a $30.5-million stretch first mortgage to Mullenix Cos. of St. Louis to refinance a portfolio of seven Marriott-brand properties in the St. Louis and Indianapolis areas. The portfolio includes four TownePlace Suites, two Fairfield Inns and one Residence Inn.

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