LaSalle Hotel Properties acquired the Alexis Hotel in Seattle for $38 million. Included in the purchase price is 19,000 square feet of retail space currently leased to third-party tenants. Kimpton will continue to manage the 109-room property.
Clarion Park Central Hotel
Hotel owner/operators' Andy Thind and GP Singh purchased the Clarion Park Central Hotel in Dallas from Fremont Investment and Loans. Sales price was undisclosed.
Courtyard San Francisco
CNL Hotels & Resorts, Inc. has acquired the remaining interest in the 405-room Courtyard San Francisco Downtown hotel, increasing its ownership to 100 percent. It acquired the remaining 51.85-percent interest from Marriott International, Inc. for $10 million.
Crowne Plaza Tulsa
Funded by a $10.9-million loan from GE Capital Solutions, Ascension Hotels purchased a Crowne Plaza hotel in Tulsa, OK. The new owner plans to renovate the 462-room property.
First Hospitality Group
First Hospitality Group, Inc. acquired two new TownePlace Suite properties in the Indianapolis market: the TownePlace Suites Indianapolis Keystone and the TownePlace Suites Indianapolis Park 100.
Interstate Hotels & Resorts
Interstate Hotels & Resorts purchased for $500,000 a 10.9-percent equity interest in The Statehouse Inn in downtown Boise, ID. It purchased its ownership interest from Cameron S-Sixteen Hospitality, LLC. A $3-million renovation is planned to reposition the 112-room hotel and restaurant as an urban boutique hotel.
Interstate also paid $ 2 million for a 21-percent equity interest in the 286-room Doral Tesoro Hotel & Golf Club near Dallas/Ft. Worth.
Renaissance St. Louis Airport Hotel
A joint venture between RockBridge Capital, LLC and Davidson Hotel Company purchased the 393-room Renaissance St. Louis Airport Hotel from an affiliate of Marriott International for an undisclosed amount. Memphis-based Davis Hotel Company will operate the hotel and oversee a $6-million renovation.
The Stirling Suites
JHM Hotels acquired the Stirling Suites, Dania Beach, Fl for $17.4 million from Oakridge Hotel I, Ltd. The new owner plans a $4-million renovation of the property, including an upgrade of guest-rooms, signage and common areas.
GE Real Estate provided $176 million in financing to Winston Hotels, the North Carolina-based real estate investment trust. The company will use the 10-year, fixed-rate loans to repay debt and expand the business. Winston owns or has investments in 55 hotels with 7,542 rooms.
Your Online Hotel Real Estate Resource
Whether you're buying or selling lodging real estate, the new Online Real Estate Today website from Lodging Hospitality is the place to go. The site has extensive listings of properties for sale across the U.S. and North America. The listings include property descriptions, locations, selling prices and a contact for more information. Go to www.LHonline.com/realestate/
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