Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park, a 249-room, full-service hotel in North Carolina’s Research Triangle area. HFF marketed the property on behalf of the seller, Driftwood Hospitality Management, LLC. Southwest Value Partners purchased the hotel and […]
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Tempe Office Fetches $17M
PHOENIX — ViaWest Group has sold 96,691 square feet of office space within the commercial complex, Crossroads of Tempe. Phoenix-based ViaWest Group acquired the nearly vacant office-retail property in 2011 for $4 million and sold the retail portion shortly after for $1.3 million. Four years later, after investing in the two remaining vacant, shell condition […]
OGI Campus Sells for $15 Million
The former Hillsboro campus of the OGI School of Science and Engineering has been purchased for $15.1 million – a 66 percent decrease in value from its price tag when Oregon Health & Science University sold the property in 2006. Public documents show that Tigard-based Criteria Properties sold the OGI site to Southwest Value Partners, […]
HREC Arranges Sale of DoubleTree Suites SouthPark Hotel
HREC Investment Advisors (www.hrec.com) is pleased to announce it has arranged the sale of 208 all-suite DoubleTree Suites SouthPark Hotel located in the exclusive SouthPark submarket in Charlotte, North Carolina, on behalf of a subsidiary of FelCor Lodging Trust (www.felcor.com). Monty Levy (SVP – Atlanta), Bill Murney (SVP – Phoenix) and Scott Stephens (COO and […]
Southwest Value Partners Purchases Continuum Business Park in Chandler
PHOENIX – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced the sale of Continuum, a ±152-acre master planned business park to San-Diego based Southwest Value Partners (“SVP”), Managing Principals Mark Schlossberg and Cary Mack. SVP purchased the project in Chandler, Arizona for $51.75 million. The seller was Capital Commercial Investments, […]
Intercontinental Starts Renovation
InterContinental New Orleans is undergoing a $26 million renovation, the first major work performed at the hotel property since its opening in 1984. Work is expected to be completed by early fall, with plans for minimal impact on hotel guests. General Manager John Romano said the renovation is the most important investment made to date […]
Ribbon Cutting Held for Newly Renovated Westin HHI Resort and Spa
The Westin Hilton Head Island Resort and Spa has a new look. On Friday, the ribbon was cut with the help of Gov. Nikki Haley. The event marked the reopening of the $30 million renovated resort. Some of the highlights are a panoramic oceanfront restaurant and bar, and a two story vertical garden. “It just […]
Southwest Value Partners Acquires Landmark New Orleans Hotel
On behalf of Pan-American Life Insurance Group and InterContinental Hotels Group (IHG), Jones Lang LaSalle’s Hotels & Hospitality Group announced the firm has arranged the sale of the InterContinental New Orleans hotel to Southwest Value Partners. The 479-room premier full-service hotel will continue to operate under the InterContinental® Hotels & Resorts brand and is superbly […]
Commercial Investors Fear New Precedent Set for ‘Extend and Pretend’
Commercial real-estate investors thought they had it bad before, but the fallout from a December court decision is causing a new level of uncertainty. The turmoil stems from a decision dealing with a $207 million loan on a pair of Westin hotels. A bankruptcy court ordered that the loan’s maturity be extended by an unusually […]
Westin Hilton Head to Undergo ‘Complete Renovation’
The Westin Hilton Head Island Resort and Spa will be extensively remodeled as part of a recent agreement that has emerged from bankruptcy proceedings. Southwest Value Partners assumed ownership of the second-largest hotel on Hilton Head, replacing Transwest Resort Properties, which filed for bankruptcy protection in November 2010. The agreement was contingent on the new […]