Hotel & Motel Management - October 1, 2007 - (Page 32)

32 Transactions H&MM October 1, 2007 | HotelMotel.com www.HotelMotel.com/digital_edition Hyatt Regency Milwaukee, the company’s eighth investment this year, for an undisclosed price. Located in downtown Milwaukee, the 22-story, 483-room Hyatt Regency is connected via a skyway system to the Midwest Airlines Center. Alex Brown Realty, Inc., and Piedmont Hospitality teamed on a joint venture to purchase Holiday Inn Atlanta Downtown for an undisclosed price. The 260-room property will remain a Holiday Inn following the sale and is scheduled to receive further renovations. The Mumford Company structured the sale of the Baymont Inn and Suites in Bloomington, Ill., from Archistar Corp. to Skyways Hospitality, LLC, for $4 million. The 103room property be managed by Skyways. The Mumford Company also represented Fussell Hospitality, LLC, during the sale of a 47-room Travelodge in Waco, Texas, to 35-10 Hospitality, LLC. After the $2.2 million-sale, the property will remain a Travelodge and will undergo minor renovations. Newly formed Cushman & Wakeﬁeld Sonnenblick Goldman has arranged the sale of the Sanibel Harbour Resort & Spa on behalf of Sanibel II Limited Partnership to Columbia Sussex for an undisclosed price. The spa is located on about 85 acres within the Punta Rassa peninsula in Fort Myers, Fla. Hunter Realty Associates, Inc., advised real estate INTERCONTINENTAL HOTELS GROUP afﬁliates of Palmer-Gosnell Management, Inc. on the sale of a portfolio of select-service Marriott- and Hilton-branded hotels in the Washington, D.C., metropolitan market to Hermani Management. The 331-guestroom portfolio was purchased for $41.5 million. The four hotels—the Fredericksburg Fairﬁeld Inn by Marriott, Chantilly Fairﬁeld Inn by Marriott, Potomac Mills Fairﬁeld Inn by Marriott and Hampton Inn Woodbridge—are located in the Northern Virginia suburbs of Washington, D.C. PalmerGosnell retained management of the three hotels. NorthMarq Capital, Inc., arranged ﬁrst-mortgage ﬁnancing of $5.1 million for Canoe Bay, located in Chetek, Wis. The boutique-style hotel is comprised of 22 individual units. Financing was based on a 10-year term with a 25-year amortization schedule and was arranged for the borrowers, Golf Media, through NorthMarq’s relationship with LaSalle Bank. Glen Mills, Pa. The newly opened, 110-suite Staybridge Suites Wilmington-Brandywine Valley, is 100 percent wind-powered through the purchase of renewable energy credits to reduce carbon dioxide emissions that contribute to global warming. The $15-million property, which is owned by Brinton Lake Hotel Associates and managed by Synergy Hospitality, also features a state-ofthe-art energy management system to reduce its energy consumption. ACQUISITIONS The Dow Hotel Co. acquired the 227-unit Radisson Hill Country Resort and Spa in San Antonio, Texas. The purchase was made in a joint venture with Prudential Insurance Company of America for an undisclosed amount from FFI Real Estate USA LLC. Hodges Ward Elliott brokered the sale of a 29-property portfolio on behalf of Encore Hospitality to an unnamed buyer for an undisclosed amount. The portfolio comprises Marriott- and Hilton-branded select-service properties located in 13 states. Chicago-based Hotel Source completed the sale of the 83-room Comfort Suites— Portage, Wis. The hotel was purchased by Krishna Hotel Corp. for $2.875 million and was previously owned by KRS Properties LLC. The Microtel Inn & Suites of Ocala, Fla., was sold to Krishna Investments for $4.2 million. The property opened in 2003. The Mumford Co. facilitated the sale on behalf of Summerﬁeld Associates LLC. The Mumford Co. facilitated the sale of a Comfort Suites in Austin, Texas, to SK Hotels LLC. The hotel, sold for an undisclosed price, was owned by Spirit Development IV. Vesta Hospitality LLC acquired the Holiday Inn Lincoln, Neb., from Columbus Hotel Properties following a $3.5-million renovation to the lobby and bathrooms. Another $3 million is planned for renovations, slated to begin in November, which will include the exterior, main elevator, common areas and all 230 guestrooms. MANAGEMENT BMC is managing The Ellis Hotel, a 127-room boutique property in Atlanta. Owned by RD Management LLC, the hotel is set to complete its $26-million historic rehabilitation this fall. Davidson Hotel Co. will manage the recently opened 225-room Westin Annapolis (Md.), the anchor property of a $250-million mixed-use development that includes ofﬁce and retail space, Privately held Noble Investment Group acquired the Not all choices stand the test of time. RockBridge does. We’ve been capitalizing the hospitality industry for more than 14 years. In fact, many industry leaders choose us as their partner of choice because of our long and consistent history of insight, value and results. make a connection at rockbridgecapital.com CIRCLE NO. 138 http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://rockbridgecapital.com http://rockbridgecapital.com

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Hotel & Motel Management - October 1, 2007 Contents Independents Rely on Guest Feedback Models Showcase Aloft, Element Brands Trainers Emphasize Communication, Cooperation Perspective At Your Risk Satisfaction Trends Sales Clinic Energy Star Update HotelWorld Update Trends & Stats Dressing Walls in 'Green' Music Programming Provides a Sound Solution Remote Check-In/Out for Leisure Travelers Q&A: Western U.S. Pipeline Softgoods - Beds and Bedding Transactions A Cause Célèbre Awards People on the Move Events Cleaning and Maintenance Solutions Marketplace Ad/Editorial Index Classifieds Checking Out

Hotel & Motel Management - October 1, 2007

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