NATIONAL REPORT—In terms of transactions this week, a property in Florida changed hands, and two hotels received financing.
Hawkeye Hotels and HOS Management Acquire Florida Property
Iowa-based firm Hawkeye Hotels in a joint venture with Georgia-based HOS Management (HOS) has completed the acquisition of Hotel Indigo in downtown Fort Myers, FL, for an undisclosed sum. HOS will manage the property, which is the first Florida asset in Hawkeye Hotels’ portfolio.
HSF Closes Financing for California Property
Dallas-based HSF has closed a new first lien construction loan totaling $23 million to finance the construction of a Hampton Inn & Townhome project in Watsonville, CA. The new 112-room hotel is anticipated to open in summer 2019 while the nearby 48-unit Townhome project is expected to be completed by October.
Trez Capital Closes More Than $10M in Construction Financing
Trez Capital has closed more than $10 million in financing to Phoenix-based Virtua Partners. This loan will finance a 116-room Fairfield Inn & Suites by Marriott in Tolleson (West Phoenix) in Arizona. The hotel will anchor a 21-acre mixed-use development that will include office, retail, restaurant and 240 units of multifamily space. The hotel is slated to open in late summer of 2019.