Investcorp and Ceebraid-Signal Corp. purchased Holiday Isle, a 151-room hotel and marina complex on Islamorada in the Florida Keys, for $98 million. The new owners plan to redevelop the property as a luxury condo hotel and marina resort.
Embarcadero Inn Associates sold the Hotel Griffon in San Francisco for $15.25 million to Greystone Hospitality. Buchanan Street Partners arranged the sale.
Hostmark Hospitality Group
Illinois-based Hostmark Hospitality added nine management contracts to its portfolio. The properties are in California, Connecticut, Illinois and Massachusetts and operate under a number of brands, including Marriott, Holiday Inn, Best Western and Days Inn.
Pan Pacific San Francisco
Ashford Hospitality Trust paid $95 million for the 338-room Pan Pacific Hotel in San Francisco. Sonnenblick Goldman served as advisor to the sellers, a partnership between Oxford Lodging Advisory & Investment Group and Whitehall Street Global Real Estate Limited Partnership. The new owners rebranded the property as the JW Marriott Hotel San Francisco.
Radisson Hotel Visalia
Presidian Companies purchased the Radisson Convention Center Hotel in Visalia, CA from Heritage Hotels & Resorts. The owners plan to convert the 201-room property into a Marriott following a $6.2- million renovation. Neptune Hospitality Advisors arranged the sale.
Columbus, OH-based RockBridge Capital extended a $7.5-million loan to Magna Hospitality Group to refinance, renovate and reposition an existing 335-room Holiday Inn in Plantation, FL into a 153-room Holiday Inn Express Hotel. & Suites.
Staybridge Suites Parsippany
Hospitality Properties Trust purchased a newly developed Staybridge Suites in Parsippany, NJ for $21 million. InterContinental Hotels Group will manage the 150-room property.
Westin Atlanta North
Diamond Rock Hospitality Co. and Noble Investment Group paid $61.5 million to Starwood Hotels & Resorts to acquire the Westin Atlanta North at Perimeter Center in Atlanta. The new owners plan to invest $3 million in capital improvements to the 369-room property.
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