Deal Report: Five Acquisitions and Reflaggings

Graduate Cincinnati (Courtesy of Graduate Hotels)
Graduate Cincinnati (Courtesy of Graduate Hotels)

1AJ Capital Partners Acquires Kingsgate Marriott in Cincinnati

AJ Capital Partners acquired the Kingsgate Conference Center at the University of Cincinnati. The hotel will run independently of any affiliation through February 2020 and begin renovations in November to convert to Graduate Cincinnati, part of the Graduate Hotels collection. The 206-room hotel is on the University of Cincinnati campus.

2HREC Arranges Sale of the Sea Ranch Lodge in California

HREC Investment Advisors arranged the sale of the full-service, 19-room Sea Ranch Lodge. Situated on 52 acres, the resort property is located in a planned oceanfront development in Sonoma County, California. HREC Investment Advisors exclusively represented Fillmore Capital Partners, LLC during the transaction.

3Walker Reynolds Acquires Three-Property Portfolio in Midwest

HREC also arranged the sale of a three-property portfolio of select-service hotels in the Midwest to Denver-based Walker Reynolds. The properties include the 122-room Hampton Inn Appleton-Fox River Mall Area, Wis.; the 119-room Hampton Inn Milwaukee/Brookfield, Wis.; and the 135-room Hampton Inn West Des Moines, Iowa. HREC exclusively represented the seller, affiliates of The Raymond Group and North Central Group, which are both headquartered in Madison, Wis.

4Nebraska Lodge and Oregon Inn Join By Magnuson Worldwide

Drop Tyne Lodge in Franklin, Neb., and Washington Square Inn in Tigard, Ore., have both joined the By Magnuson Worldwide collection. Drop Tyne Lodge is a Veteran-owned and operated property located near Harlan County Lake, Franklin County Museum and Franklin County Memorial Hospital. Washington Square Inn is 13.4 miles from Portland International Airport and within 7 miles of The Portland Japanese Garden, Washington Park, Pittock Mansion, and the Oregon Zoo.

5HTL Arranges Sale of SpringHill Suites Jacksonville Airport 

HTL Hospitality Advisors arranged the sale of the SpringHill Suites by Marriott Jacksonville Airport in Florida. This sale was part of HTLHA’s growing off-market practice and the fifth off-market Marriott franchised hotel HTL has recently sold. The new owners plan to extensively renovate the 104-room hotel, built in 2007, to meet the new SpringHill Suites brand standards.

 


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