NATIONAL REPORT—An affiliate of Blackstone is selling the Boca Raton Resort & Club in Florida, a private investment group is investing in a DoubleTree near Atlanta’s airport, and there are more acquisitions to watch.
MSD Partners L.P. to Acquire Boca Raton Resort & Club
MSD Partners L.P. has entered into a definitive agreement to acquire the Boca Raton Resort & Club from an affiliate of Blackstone.
The property, which was built in 1926, today comprises 1,047 hotel rooms across 337 acres. Its amenities include two 18-hole golf courses; a 50,000-sq.-ft. spa; seven swimming pools; 30 tennis courts; a full-service, 32-slip marina; 13 restaurants and bars; and 200,000 sq. ft. of meeting space. A perennial award-winner, the property was the beneficiary of more than $300 million in investment under Blackstone’s stewardship, both preserving and enhancing this resort.
Terms of the transaction, which is expected to close by the end of the second quarter, were not disclosed. The property will continue to be managed by Hilton under the Waldorf Astoria Hotels & Resorts brand. Jeffrey Davis and Gregory Rumpel of JLL Hotels & Hospitality led the marketing efforts for the resort on behalf of the seller.
“This transaction represents the beginning of a wonderful next chapter in the story of Boca Raton Resort & Club,” said John Tolbert, president and managing director of Boca Raton Resort & Club. “Since its founding, Boca Raton Resort & Club has been a truly special place, which over the years has evolved to become a premier experience for guests and members alike. We look forward to working with the MSD team to further develop the Boca Raton Resort & Club experience, rooted firmly in Addison Mizner’s vision, to deliver a unique destination for today’s discerning traveler and our members.”
HHM Completes Acquisition of DoubleTree by Hilton Hotel Atlanta Airport
Philadelphia-based HHM has completed its acquisition of the DoubleTree by Hilton Atlanta Airport, which has 220 guestrooms, 4,500 sq. ft. of updated meeting space, multiple food and beverage outlets, and a fitness center and swimming pool. The DoubleTree by Hilton Atlanta Airport is in close proximity to Hartsfield-Jackson Atlanta International Airport.
“The DoubleTree Atlanta marks HHM’s first hotel with the DoubleTree brand, further expanding a strong and growing partnership with Hilton, which now includes 27 managed hotels in our portfolio,” said David McCaslin, EVP, HHM. “Further, this acquisition marks continued growth for our investment and operations platform, which now oversees six major airport hotels, including the Westin Dallas Fort Worth Airport and the Sheraton Miami Airport.”
MCR Acquires the Hilton Garden Inn Near Las Vegas
MCR has acquired the 139-room Hilton Garden Inn Las Vegas/Henderson. Located less than 15 minutes from McCarran International Airport, the 139-room pet-friendly property offers free WiFi, a 24-hour business center and a hot tub and heated outdoor pool. Rachel’s Kitchen serves up breakfast, lunch and dinner, and there’s The Pavilion Pantry, a 24-hour convenience store available to guests.
Sold: Comfort Suites Near Texas Medical Center/NRG Stadium in Houston
HVS Brokerage & Advisory has closed on the sale of the 55-key Comfort Suites near Texas Medical Center/NRG Stadium for an undisclosed amount. HVS worked closely with the seller and buyer throughout the transaction.
Avalon Sai Hotels LLC acquired the Comfort Suites near Texas Medical Center/NRG Stadium from seller NKB Investments Inc. “HVS was great to work with and made the transaction smooth. We are excited to add this Comfort Suites to our growing Houston portfolio,” said Anil Verma, president, Avalon Group. The hotel, which was built in 2002, includes a breakfast dining area, an outdoor pool and whirlpool, a fitness room and 700 sq. ft. of meeting space.