$200M CONSTRUCTION LOAN FOR HILTON’S HAWAII HOTEL: Civitas Capital Group, the Dallas-based alternative investment manager, has closed a $150 million senior loan to fund the construction of a Hilton hotel in Kauai, Hawaii. Civitas is providing the senior loan to affiliates of Silverwest Hotels and its institutional equity partners for a 210-room Curio Collection by Hilton hotel. Sitting on a 8.5-acre plot in a master-planned, 450-acre oceanfront luxury resort community, the hotel will feature a restaurant, an outdoor pool, a fitness center, 27,000 square feet of meeting and event space and pro shop for the 18-hole Jack Nicklaus Ocean Course at Hokuala. This marks Hilton’s second branded hotel on the island. In the past 12 months, Civitas’ platform in the past 12 months has grown to more than half a billion of closed or currently in-process deals.
ASHFORD HOSPITALITY SELLS TWO HOTELS: Ashford Hospitality Trust has closed on the sale of the two select-service hotels in Kennesaw, Ga. for $17.5 million. The properties include the 90-room SpringHill Suites and the 86-key Fairfield Inn. The sale price represented a 4.8% capitalization rate on trailing 12-month net operating income through April. The properties were encumbered with a mortgage loan with an outstanding balance of around $10.8 million. The proceeds from the sale will be used for general corporate purposes, including the pay down of the company’s strategic financing.
DAVIDSON ADDS TO FLORIDA PORTFOLIO: Davidson Hospitality Group has been selected by InSite Development Group and Quadrum Global to manage the newly opened Renaissance Orlando Resort in Disney Springs, Fla. The hotel is an official Walt Disney World Hotel and features 394 revitalized rooms, a zero-entry pool and hot tub, restaurant and more than 20,000 square feet of indoor meeting space. Renaissance Orlando Resort adds to Davidson’s portfolio in Florida, where it currently operates 23 properties.
AUTOGRAPH COLLECTION AT LAKESIDE VILLAGE: Realty Capital, the Dallas-Fort Worth-based developer of Lakeside Village in Flower Mound, Texas, has signed an agreement with Marriott International to develop an Autograph Collection Hotel and Residences on Lake Grapevine. The hotel will be located within the 160-acre, $2 billion Lakeside Village mixed-use project, which is in the last phase of its development. The 12-story hotel will consist of 181 rooms and suites with balconies, a rooftop pool and terrace, spa, private yacht, multiple restaurants, fitness center, ballrooms, chapel and an outdoor music amphitheater. The top three floors of the hotel will feature 21 branded condominium residences. Coury Hospitality will manage the hotel. Lakeside Village will have more than 40 shops and restaurants, offices, entertainment, public amenities and around 2,500 residences. The final phase features single-family villas, high-rise residences, hotels, a private social club, shops, offices, a wedding chapel and lakefront restaurants.
AVA RESORT OPENS IN CANCUN: AVA Resort Cancun, led by the AIC Hotel Group, has officially opened in Cancun, Mexico. The all-inclusive resort offers 1,600 ocean-facing rooms, 27 restaurants and bars, 22,000 square feet of spa and wellness center, a kid’s club and six swimming pools. The villas have private pools, full bars, kitchens and dining for up to 12 persons as well as dedicated butler services. The resort also includes a 120,000-square-feet saltwater bay and 90,000 square feet of flexible event space. The luxury resort offers a range of activities and experiences for all age groups. AVA Resort Cancun was designed by Boris Pena Architects and Gensler Architects and features local artwork, including tiles, fabrics and woodwork. The property’s design was led by HKB Design.
