NATIONAL REPORT—Hotels are changing hands across the country. Here’s a look at the recent sales in Miami; Houston; Mobile, AL; and Astoria, OR:
JLL and CBRE Arrange the Sale of Alden Hotel Miami Beach
JLL Hotels & Hospitality has advised on the sale of the Alden Hotel Miami Beach, on behalf of SMS Lodging, owned and managed by the Arnoldsson family and R^2 Companies. Hawkins Way Capital purchased the 71-key hotel for $21.3 million and was represented by CBRE. The collective firms worked together in a direct off-market transaction. The Alden Hotel Miami Beach is in Mid-Miami Beach close to entertainment venues. SMS Lodging acquired the condo-hotel through the acquisition of bulk units and individual units and ultimately converted the building to a hotel. The hotel has a historic facade, outdoor patio and a swimming pool with a sundeck.
Hunter Closes on Two Marriott-Branded Hotels
Hunter Hotel Advisors, in its continued relationship with Hospitality Investors Trust Inc., has brokered the sale of two properties. The SpringHill Suites in Houston sold to a Texas-based buyer. This 122-room property is located near the Houston Hobby Airport and recently underwent renovations. The Courtyard by Marriott, located in Mobile, AL, had renovations in 2015 and offers an indoor pool among the amenities provided to guests of this 78-room hotel.
Crystal Investment Property Facilitates the Sale of Cannery Pier Hotel
Crystal Investment Property LLC (CIP), a member of Hotel Brokers International, has facilitated the sale of the Cannery Pier Hotel in Astoria, OR. CIP, a licensed Oregon brokerage, brought together the seller and buyer of this singular property. The final sale price is confidential. The Cannery Pier Hotel and Spa has an on-site day spa, hot tub, fitness facility and a meeting room.