NATIONAL REPORT—Hotel Business has been rounding up financing news. Here’s what we found:
Mission Capital Advisors Arranges Loan for DoubleTree by Hilton Greensboro
Mission Capital Advisors has arranged a $21.35-million non-recourse loan to refinance the DoubleTree by Hilton Greensboro, a 175-key, full-service hotel located in Greensboro, NC. The Mission Capital team of Beau Williams, Steven Buchwald, and Justin Hunt represented Milestone Hospitality Management in arranging the loan, which refinances the property’s existing financing and includes funding for a brand-required PIP.
Columbia Sussex Acquires Intercontinental Dallas
InterContinental Dallas has been purchased by Columbia Sussex. The privately held company is rebranding the 528-room property. Renovations are already underway.
HREC Arranges Sale of Hampton Inn Seneca Falls, NY
HREC Investment Advisors has arranged the sale of the 81-guestroom Hampton Inn located in Seneca Falls, NY. SF Hotel Group LLC acquired the property.
Crystal Investment Property Arranges Sales of Econo Lodge in Newport, OR
Crystal Investment Property LLC has arranged the sale of the Econo Lodge in Newport, OR. CIP represented the seller and buyer in the sale. The final sale price is confidential.