AWH Partners Acquires Boca Raton Bridge Hotel

BOCA RATON, Fla. and NEW YORK (September 5, 2012) - AWH Partners, LLC (AWH) -- a joint venture of Winston Harton Holdings, LLC (WHH) and August Group Ventures, LLC (AGV) -- in partnership with The Lane Organization, LLC today announced the acquisition and planned reinvention of the Boca Raton Bridge Hotel, the waterfront boutique hotel in which every room presents water views, ideally located on the Intracoastal Waterway among pristine beaches, champion golf courses and world-class shopping and dining in Boca Raton. The seller and transaction price were not disclosed. 
  
“This purchase represents our continued belief that hotel repositionings in strong submarkets offer huge opportunities for value-add investing.” said Russ Flicker, principal of AWH Partners. “Our past experience in Boca Raton was extremely positive; we love the market and look forward to putting together a seasoned team of designers and consultants to completely transform the hotel into a premier South Florida experience.” more >>>

AWH Partners Acquires Lane Hospitality

NEW YORK (April 24, 2012) – AWH Partners, LLC -- August Group Ventures, LLC (AGV) and Winston Harton Holdings, LLC (WHH) -- has announced a joint venture to purchase Lane Hotels, Inc., the nationally recognized hotel company, as well as individual hotels owned by Lane Hospitality, LLC, for an undisclosed price. AWH Partners’ purchase is part of an ongoing joint venture with an institutional equity source designed to pursue additional hospitality investments.

“With the infusion of capital we are contributing through AWH Partners, the recapitalization of Lane Hotels will bring a renewed focus on portfolio growth while continuing to deliver a high caliber of service to Lane’s existing clients,” said Chad Cooley, president of August Group Ventures.

“We are confident that this high-quality portfolio will further flourish under the hands-on asset management skills we bring to the table,” said Jon Rosenfeld, owner and co-founder of Winston Harton Holdings. “The purchase of Lane Hospitality presents an attractive opportunity for us to continue expanding our presence in the hospitality investment area." more >>>

RLJ Buys Doubletree Metropolitan in Manhattan for $355MM

RLJ Hotels has cut a $335 million deal for a Midtown hotel known for its striking architecture.

The upscale Doubletree Metropolitan Hotel is the third hotel that Mr. Johnson's RLJ Development has bought in Manhattan since 2008. He also bought the Hilton Garden Inn at 63 W. 35th St. and the Fashion 26 Hotel at 152 W. 26th St. for more than $100 million each.

"These assets are compliant with our investment strategy to buy high-caliber real estate," RLJ Development President Thomas J. Baltimore Jr. said in an interview Friday. "In New York, we have significant demand growth and high barriers to entry." Read the article here in the WSJ or read more about it here at real capital analytics

Breaking News: W Hotels (Tuscany & Court) Finally Sell - To Become St. Giles New York

After months and months of radio silence, there is finally some news regarding the sale of Starwood's two NYC W hotels on 39th Street....and also here.

The hotel will drop the W brand and will be knows as the St. Giles New York. Congrats to the new owners -- you got a great deal on these hotels! We were runners up on this deal, so naturally we're excited to see what your plans are for the two properties. 

Here is how Starwood deals with hotels that are leaving it's system.

Helmsley Carlton House Sells for $170MM

The estate of real-estate baroness Leona Helmsley has signed a deal to sell one of its prime Manhattan hotels for about $170 million, in a sign that investor appetite is keen for trophy assets.

The sale of the Helmsley Carlton House to a venture of private-equity firm Angelo, Gordon & Co. and Extell Development Co. also marks the beginning of the final act of the Helmsley saga in which the properties accumulated over four decades by the late Harry Helmsley are going to be sold.

When Mrs. Helmsley, who inherited the empire, died in August 2007, her estate began moving to sell properties. But those plans were shelved when the credit crunch and recession unhinged the commercial real-estate market.

While that sector is still suffering from the downturn, a growing volume of distressed property and trophy assets are attracting attention from investors who have accumulated large war chests in hopes of taking advantage of market woes. The buyer of the Carlton House, Angelo Gordon, raised a total of $2 billion in 2006 and 2007 and had spent only 25% of that capital until mid-2009, when the firm began buying again, according to an investor in its funds. Located in the heart of the tony Madison Avenue shopping district, the retail space in Carlton House is among the most valuable in the world. [ read more ]