NATIONAL REPORT—Hotel Business is tracking transactions in the hospitality industry. This week, HFF has arranged financing for the development of a mixed-use project in Mountain View, CA; Marcus & Millichap has arranged the sale of the Hotel Indigo in Fort Myers, FL; and Booking Holdings has acquired a hotel metasearch site.
HFF Arranges $250M in Financing for Ameswell Mountain View
HFF has arranged $250 million in financing for the development of Ameswell Mountain View, a fully entitled, mixed-use project comprising a 255-room upscale, independent hotel and a 216,700-sq.-ft. Class A, LEED-Platinum office building in Mountain View, CA.
The HFF team worked on behalf of the developer, Broadreach Capital Partners LLC, to arrange a joint venture equity partnership with Rockwood Capital LLC. Additionally, the HFF team worked on behalf of the parties to secure the $140 million construction financing with Wells Fargo Bank.
Upscale Boutique Gulf Coast Hotel Changes Hands at $9.35M
The 67-room Hotel Indigo in Fort Myers, FL has sold for $9,325,000. Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a limited liability company, and procured the buyer, Iowa-based Hawkeye Hotels, in a joint venture with Georgia-based HOS Management.
Booking Holdings Agrees to Acquire HotelsCombined
Booking Holdings has entered into an agreement to acquire hotel metasearch site HotelsCombined. The acquiree will report into Booking Holdings’ Kayak. The acquisition has been approved by HotelsCombined’s board of directors and stockholders. The deal is expected to close later this year, subject to regulatory approval and satisfaction of closing conditions.