Recent transactions include Dynamic City Capital acquiring an Element hotel near Disneyland, Dreamscape Companies adding the Sheraton Grand in Nashville to its portfolio and more.
Dynamic City Capital acquires Element in Anaheim, CA
Dynamic City Capital (DCC), a Utah-based real-estate investment firm focused on premium-branded hotel investments, has acquired the Element Anaheim Resort Convention Center. The property will open next month.
The Anaheim Element is DCC’s third hotel acquisition this year. With the purchase of the two Hilton-branded San Diego Bayside hotels in January, DCC has acquired a total of 538 hotel rooms in the first half of this year.
The hotel is near Disneyland and Downtown Disney, the Anaheim Convention Center, Knotts Berry Farm and Angel Stadium of Anaheim. The five-story property features 174 suites with in-room kitchens.
Dreamscape Companies purchases Nashville Sheraton Grand
Dreamscape Companies, founded by real estate industry veteran Eric Birnbaum, has acquired the Sheraton Grand Nashville Downtown. This newest addition to the company’s portfolio illustrates its commitment to the targeted goal of $1 billion in acquisition over the next 24 months, as well as signifies the company’s first foray into the Nashville market.
As the exclusive operating partner for Dreamscape Companies’ collection of hospitality properties, Aimbridge Hospitality will assume management of the 482-room hotel, including food and beverage and fitness, as well as its meeting and event space.
AMS, Black Salmon acquire Circa 39 Hotel
AMS Hospitality, the affiliate hospitality group of The Allen Morris Company, and Miami-based national commercial real estate investment firm Black Salmon have acquired Circa 39 Hotel in Miami Beach. The 97-key boutique hotel marks the most recent acquisition for the group as part of its plans to acquire $300 million in hospitality assets across the U.S. The two firms have additional assets under contract throughout the southeast U.S.
The Art Deco-style property is across from the Miami Beach boardwalk and housed within two buildings, which include a surface lot across the street. The asset will undergo a multimillion-dollar renovation which will reposition it as an upper-upscale, independent lifestyle hotel with a reimagined pool deck and new internationally recognized food and beverage concepts.
Lodging Partners sells three extended-stay hotels
Lodging Partners LLC, a member of Hotel Brokers International, has sold three mid-market extended-stay hotels, the Affordable Corporate Suites located in Concord, Statesville and Kannapolis, NC. Ford C. Barton, principal, Lodging Partners LLC, coordinated the marketing and negotiations on these transactions.
This portfolio of extended-stay hotels is located across multiple markets in North Carolina and provides the buyer significant in-place cash flow in good growth markets.