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Hampton Inn Houston
Sale of the 74-room Hamption Inn & Suites Cypress Station location in Houston, Texas. The buyer, an out-of-state owner/operator, also acquired an adjacent hotel development parcel.
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Doubletree Albuquerque
Arranged senior financing for the 295-room Doubletree located in Downtown Albuquerque. HREC procured a $8.5 million five-year floating rate, interest-only loan through a commercial real estate finance company.
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Crowne Plaza Grand Rapids
Sale of the 320-room Crowne Plaza Hotel located in Grand Rapids, Michigan. The buyer is a San Diego-based private hotel company. The hotel was sold by Sunstone Hotel Investors.
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Sheraton Albuquerque
Arranged senior financing for the 276-room former Wyndham located at the Albuquerque International Airport. Procured a $23.24 million, five-year floating rate, interest-only loan through a commercial real estate finance company. Upon completion of a $7,500,00 renovation, the property will be converted to a Sheraton Hotel.
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Hotel Zoso
Arranged senior financing for the 163-room Hotel Zoso and 63-suites in the adjacent Marquis Villas Resort in downtown Palm Springs, California. Procured a $20.8 million non-recourse, five-year floating rate, interest-only loan through a commercial real estate finance company.
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Hotel La Jolla
Arranged senior and mezzanine financing for the 108-room Hotel La Jolla in La jolla, California. Procured a $23.1 million three-year floating rate loan through a Wall Street Investment bank and a $7.0 million mezzanine loan through a hospitality real estate investment trust.
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