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ALOFT HOTEL TO OPEN IN HISTORIC HOUSE AT IMPERIAL MARKET

SUGAR LAND, Texas — A 120-room Aloft hotel will be part of the new Imperial Market, a redevelopment of historic structures in the former Imperial Sugar Refinery near Houston, the Houston Chronicle reports.

The historic, eight-story Imperial Sugar Char House was built in 1925.

Imperial Market will be an upscale shopping, dining, entertainment and cultural destination incorporating the boutique hotel with office space and multi-family residences. Construction of the 777,500-square-foot project will begin in late 2015. Imperial Market is being created by Imperial Market Development, LLC.

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 LE MERIDIAN HOTEL SOLD IN DALLAS

DALLAS Holliday Fenoglio Fowler handled the sale of and secured acquisition financing for Le Méridien Dallas by the Galleria, a 258-suite, upscale hotel.

HFF marketed the property on behalf of the seller, a partnership between Arden Group, Inc. and HEI Hotels & Resorts.  NB Holdings purchased the asset for an undisclosed amount.  Additionally, HFF worked on behalf of the new owner to place the 10-year, fixed-rate acquisition loan with Principal Commercial Capital, part of Principal Real Estate Investors.

Le Méridien Dallas by the Galleria is an all-suite 11-story hotel with a contemporary, European aesthetic.  Constructed in 2002, the hotel is situated on three acres in the North Dallas Galleria market, at the intersection of Interstate 635 (LBJ Freeway) and the North Dallas Tollway.

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FELCOR SHEDS TEXAS HOTELS IN PORTFOLIO REPOSITIONING

IRVING, Texas — FelCor Lodging Trust, Inc. has sold three hotels for aggregate gross proceeds of $90 million. The properties include two hotels in Texas — the 216-room Embassy Suites-San Antonio and the 260-room Embassy Suites Austin-Central – and the 274-room Embassy Suites in Charlotte, N.C. The firm owned 50% of the North Carolina hostel as part of a joint venture.

Based in the Dallas suburb of Irving, FelCor has nearly completed its portfolio repositioning plan, having sold 38 hotels for $884 million gross. The company has executed contracts on its two remaining hotels and expects to sell both during the third quarter of 2015.

FelCor is a real estate investment trust that owns upscale and luxury hotels in major and resort markets throughout the U.S

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NEW 366-ROOM WESTIN AUSTIN DOWNTOWN OPENS ITS DOORS

AUSTIN — Westin Hotels & Resorts has opened its latest Austin hotel, the 366-room Westin Austin Downtown, at San Jacinto Boulevard and Fifth Street.

A joint venture among White Lodging Services Corporation, the Harry Whittington family and REI Real Estate Services, LLC, the 19-story lodging site is Westin’s second property in Austin and one of five new Westin Hotels opening in North America this year.

The structure, which draws design inspiration from the local music scene, used HKS Architects, Inc. and was designed by Simeone Deary.

The hotel chain is part of Starwood Hotels & Resorts.

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 M&M INVESTMENT SELLS 116-ROOM MANOR INN FOR $6 MILLION

COLLEGE STATION, Texas — Manor Inn, a 116-room hospitality property, has been sold by the real estate investment group of Marcus & Millichap for its list price of $6 million.

Manor Inn College Station Aggieland is located at 2504 Texas Ave. South in College Station.

Rahul Bijlani, Eric Guerrero and Michael Yu of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor.

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AUGUST START SET FOR SPRINGHILL SUITES IN SAN ANTONIO

SAN ANTONIO– A four-story SpringHill Suites hotel will be built on San Antonio’s northeast side at 4613 Rittiman Road.

Construction of the $6.5 million lodging center will begin in August. The hotel should open during the summer of 2016.

SpringHill Suites is part of Marriott International hotels. The chain accommodates the upper-moderate-priced, all-suite lodging segment of the industry.

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HOTEL ALESSANDRA UNDER CONSTRUCTION IN DOWNTOWN HOUSTON

HOUSTON – A 225-room, 21-story full-service Hotel Alessandra is now being built in the GreenStreet mixed-use development at Fannin and Dallas streets in downtown Houston

Midway Co., which is developing the hotel in partnership with the Valencia Group, recently began construction. Completion is expected during the fourth quarter of 2016.

The new hotel will bolster Houston’s convention appeal as the city awaits the Super Bowl being played here in 2017.

A 1,000-room Marriott Marquis is also under construction in downtown Houston.

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WHITE LODGING DEVELOPING AUSTIN CONVENTION HOTEL

AUSTIN – White Lodging Services Corp. has locked up a half-block across the street from the Austin Convention Center for development of a major hotel.

White Lodging, an Indiana-based firm, a major player in the Austin hotel market, signed a long-term ground lease for the half-block, at the northwest corner of Trinity and Cesar Chavez streets.

Earlier this year, White Lodging opened two hotels in downtown Austin: a 1,000-room J.W. Marriott and 366-room Westin. The firm also plans to develop Aloft and Element branded hotels in a new dual-branded tower at Seventh Street and Congress.

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HISTORIC DOWNTOWN HOUSTON BUILDING REDEVELOPING

HOUSTON – The historic Stowers Furniture building in downtown Houston is being redeveloped into a 173-room Aloft hotel.

Built in 1913, the 10-story Stowers building is located at 820 Fannin at Walker Street adjacent to the BG Group Place tower.

Construction is underway and the Aloft hotel, part of the Starwood Hotels organization, will open next summer, said Houston developer William R. Franks, who is working with Trend Hospitality to develop the hotel. Arch-Con, a Houston construction firm led by Michael Scheurich, is the general contractor for the hotel redevelopment.

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HISTORIC YANKEE CLIPPER TO BE RE-BRANDED

FORT LAUDERDALE, Fla. – The iconic beachfront Yankee Clipper hotel will be renovated and reopened as the new 487-room B Ocean Resort in Fort Lauderdale will muster in a new era of beachfront hospitality. The project led by New York City-based Stonehill & Taylor will include redesigns to the resort’s lobby, restaurants, corridors, outdoor and public spaces.

Built in 1956 by Fort Lauderdale hotel pioneer Robert “Bob” Gill Jr., the historic hotel is set to celebrate its 60th anniversary next year.

 

 

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