Buying & Selling: Four Transactions to Know

NATIONAL REPORT—Boyne Resorts has completed the acquisition of seven resorts and attractions, while MCR picked up a property near Cincinnati—and there’s more.

Boyne Resorts Buys Seven Resorts & Attractions

Boyne Resorts closed on a purchase transaction with Ski Resort Holdings LLC, an affiliate of Oz Real Estate, to acquire six mountain resorts and a scenic chairlift attraction previously leased by the resort company.

Boyne Resorts has been the long-term operator of the seven newly acquired assets and also owns three resorts in northern Michigan and Big Sky Resort in Montana.

Included in the transaction with Oz Real Estate are Brighton Resort in Big Cottonwood Canyon near Salt Lake City; Cypress Mountain in Vancouver, BC; Gatlinburg SkyLift in Gatlinburg, TN; Loon Mountain Resort in Lincoln, NH; Sugarloaf in Franklin County, ME; Sunday River Resort in Newry, ME; and The Summit at Snoqualmie near Seattle.

MCR Acquires Hilton Garden Inn Cincinnati Northeast

MCR has acquired and will manage the 84-room Hilton Garden Inn Cincinnati Northeast in Loveland, OH.

Guestrooms have Garden Sleep System beds and ergonomic workstations, as well as free WiFi. Amenities include a fitness center with an indoor pool, two meeting rooms that can host up to 80 people, and a 24-hour business center with free copying services. For dining, there’s the Garden Grille and Bar, which offers room service, and the Pavilion Lounge cocktail bar. A 24-hour convenience store is also available.

HREC Arranges Sale of DoubleTree Hotel

HREC Investment Advisors has arranged the sale of the 295-guestroom DoubleTree Hotel located in Williamsburg, VA. The hotel was acquired by an affiliate of Shamin Hotels.

HREC Investment Advisors exclusively represented an affiliate of Waramaug Hospitality, which was the seller of the hotel. The sale was negotiated by Ketan Patel, managing director in the Washington, DC office, and Monty Levy, managing director in the Atlanta office.

HFF Coordinates Sale, Financing for Hotel MdR

HFF arranged the sale of and acquisition financing for Hotel MdR, a DoubleTree by Hilton Hotel. The 283-room, full-service hotel is located in West Los Angeles within the Marina del Rey submarket.

The HFF team arranged the sale on behalf of Lubert-Adler, Channel West Group and Arris Investments to U.K.-based London & Regional Properties (L+R). This is the first hotel acquisition in the U.S. for L+R, which has a long-standing relationship with HFF’s London office. Additionally, the HFF team worked on behalf of L+R to place the five-year, floating-rate loan with a Germany-based lender.

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