Development firm Gateway Jax will restore the Ambassador Hotel with the partnership of The Indigo Road Hospitality Group. Gateway Jax, made up of DLP Capital and JWB Real Estate Capital, manages a private equity fund focused exclusively on Downtown Jacksonville development….
Partners Capital bought the Courtyard by Marriott Atlanta Buckhead for $24.25 million. The 181-room hotel is off Peachtree Road in the central business district. The seller was RLJ Lodging Trust. The Buckhead Courtyard, built in 1996, has about 1,500 square feet of…
Hotelier Rajesh Aggarwal is planning to build a hotel on 1407 Division St. adjacent to the Best Western Plus Music Row hotel. The project will include a 191,150-square-foot building with 222 hotel rooms. Aggarwal owns the 1.27-acre property, which includes…
A mystery buyer has apparently agreed to buy $725 million in debt on two of San Francisco’s largest hotels, reported the San Francisco Business Times. The 1,921-key Hilton San Francisco Union Square and 1,024-key Parc 55 San Francisco have been under court-appointed receivership since the fall of…
Reade Hotel Capital paid $57.5 million for Embassy Suites Nashville at Vanderbilt, which the Nashville Business Journal reports is nearly $9 million less than what it sold for a decade ago. The hotel, owned by investment trust Moody National Reit…
Urban Street Development and Berkadia secured $38.5 million in permanent and construction financing to fund the expansion of the Hotel Indigo Tallahassee – CollegeTown. The project at 826 Gaines Street, is near Florida State University. Urban Street recently bought an…
Noble Investment Group will build a four-story, 55,082-square-foot StudioRes by Marriott, an extended-stay hotel with 124 rooms, in the Collins Town Center north of Costco Wholesale. The company expects the project to cost just under $10 million. The brand is Marriott’s…
Driftwood Capital (“Driftwood”) secured $28.5 million in refinancing for the Wylie Hotel Atlanta. Fortress Investment Group provided a 36-month loan at a competitive interest rate to refinance the Wylie. Driftwood Acquisition Partners (“DAP”) acquired the independent Wylie Hotel in 2021 and…
An Atlanta-based hotel developer bought the East Nashville site where it is planning a Marriott hotel. Dream Capital paid $5 million for a 1.41-acre property near the East Bank, located at 751 S. Fifth St., where it is eyeing an eight-story,…
Leyad, a real estate investment firm based in Canada, has acquired the Ink48 Hotel in Midtown Manhattan’s Hell’s Kitchen neighborhood in a 50/50 joint venture with locally based private equity firm Capstone Equities. The deal marks Leyad’s first purchase in the New…
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