NATIONAL REPORT—Hotel sales are happening across the country, with two in Florida and another in Kansas City, KS. Here’s a look at recent transactions:
Hunter Hotel Advisors Sells Hilton Three-Pack in Orlando, FL
Hunter Hotel Advisors revealed that it represented Kalson’s Hospitality in the sale of the Homewood Orlando Theme Parks, Homewood Lake Buena Vista and the Hilton Garden Lake Buena Vista in Orlando, FL.
The seller, Kalson’s Hospitality, was legally represented by Chirag Kabrawala of the Kabrawala Law Group. The buyer, Tishman Select Partners (TSP), is an affiliate of New York City-based Tishman and was established to manage the acquisition and development of Tishman’s investments in the select-service asset class. Tishman also owns the nearby Walt Disney World Swan and Walt Disney World Dolphin Resorts in Central Florida. Tishman has engaged Stepstone Hospitality to manage the three assets on its behalf.
Hunter Hotel Advisors Sells Hilton Garden Inn in Kansas City
Hunter Hotel Advisors represented an affiliate of Fairwood Capital in the sale of the 147-room Hilton Garden Inn in Kansas City, KS, to Peachtree Hotel Group.
Located in Kansas City’s business and government district, the hotel is near EPA Region 7 offices, the Dole Federal Courthouse, and corporations including General Motors, Colgate Palmolive and Keebler Associated Wholesale Grocers. Also nearby is the Reardon Convention Center and American Royal and Bartle Convention Center. In addition, the hotel offers more than 1,375 sq. ft. of meeting and convention space.
Braemar Sells Renaissance Property in Tampa, FL
Braemar Hotels & Resorts Inc. completed the sale of the 293-room Renaissance Tampa International Plaza Hotel in Tampa, FL for $68 million ($232,000 per key), previously announced on May 8. The Plasencia Group represented Braemar in the transaction.
A partnership between Clearview Hotel Capital, a California-based private investment firm, and funds managed by Oaktree Capital Management L.P. acquired the Renaissance. The Plasencia Group’s CEO Lou Plasencia, and Vice Presidents Joe Corcoran, Chris Plasencia and Nick Plasencia advised the seller in this disposition.
The Renaissance is proximate to Tampa International Airport, which is undergoing a billion-dollar expansion, and attached to the International Plaza mall.