NATIONAL REPORT—In investment news this morning, HFF refinances a Boston-based hotel portfolio, a newly formed resort company completes its acquisition of Deer Valley Resort and Chandler Hotel Group markets the selling of Quality Inn Aloha-Beaverton, OR.
HFF Refinances Boston-Area Hotel Portfolio
Holliday Fenoglio Fowler L.P. (HFF) has refinanced a three-property hotel portfolio totaling 623 rooms in the Boston-area communities of Natick and Somerville, MA. The HFF team worked on behalf of the borrower, Distinctive Hospitality Group, to place the 10-year, fixed-rate loan with Bank of America’s CMBS Group. Additionally, HFF will service the securitized loan, proceeds of which will be used to refinance existing debt and reinvest in the property. The portfolio comprises the 251-room VERVE-Crowne Plaza Boston-Natick and the 188-room Hampton Inn Boston-Natick in Natick, and the 184-room Holiday Inn Boston Bunker Hill Area in Somerville.
Newly Formed Resort Company Completes Acquisition of Deer Valley Resort
The newly formed entity controlled by affiliates of KSL Capital Partners LLC and Henry Crown and Company have completed the previously announced acquisition of Deer Valley Resort in Park City, UT. The company, with Deer Valley Resort, also unveiled that Bob Wheaton will remain at Deer Valley Resort as president and COO.
Through this transaction, Deer Valley Resort is now part of a portfolio of 13 resorts with more than seven million skier visits, 22,000 skier acres and significant land available for real estate development. The company also includes Canadian Mountain Holidays.
Chandler Hotel Group to Market for Sale for the Quality Inn Aloha-Beaverton, OR
Chandler Hotel Group has been retained on an exclusive basis to market for sale the three-story, 54-room Quality Inn Aloha-Beaverton, OR. All rooms are air-conditioned, and have functional furnishings and carpeted floors at this non-smoking hotel.