A 28-year-old attorney, Jack Bacevice, moved to WT Grant Lofts because of its unique architectural details and great amenities.
His two-bedroom apartment features “20-foot-high ceilings, red brick around the fireplace, and exposed brick walls that have been painted.” He especially appreciates having an in-suite washer and dryer and an icemaker in his refrigerator.
He had lived in downtown Cleveland while he was in college. He liked the urban lifestyle so much that he moved back downtown in November of 2011.
Chandler’s Crowne Plaza San Marcos Golf Resort has a new owner and soon will have a new look.
Interwest Capital, which purchased the historical property on Jan.28, plans a top-to-bottom renovation, including revamping guest rooms and meeting spaces and improving the golf course and grounds, said Karl Coleman, president of Interwest Capital.
“Our goal is to have that finished this year so we can celebrate the centennial of the hotel,” Coleman said.
CHANDLER, AZ-Business Real Estate Weekly of Arizona reports that Interwest Capital Corp., operating under the name San Marcos Hotel LLC, has paid $11 million to buy the 249-room Crowne Plaza San Marcos Golf Resort. The La Jolla, CA investor bought the 100-year-old hotel from CP San Marcos LLC, an entity created by Guaranty Bank and Trust Co. in Denver.
Following bankruptcy, foreclosure and receivership, the historic Crowne Plaza San Marcos Golf Resort in downtown Chandler has been purchased by Interwest Capital Corporation. The hotel, built in 1912, will be managed by an affiliate of GF Management, a hospitality management and development company.
The hotel, which has 249 rooms, will also be undergoing “exciting renovations and updates” to the property throughout 2013 and leading into early 2014, according to a news release from Ashleigh Mason, director of development for GF Management in Philadelphia.
Interwest Capital Corporation acquired the historic Crowne Plaza San Marcos Golf Resort in the heart of Chandler, and awarded the management contract to an affiliate of GF Management, a hospitality management and development company.
The 249-room hotel offers various amenities and activities and sits in Downtown Chandler. It includes more than 30,000 SF of indoor/outdoor flexible event spaces. It is undergoing renovations and updates to the property that will continue in 1Q 2014.
The Galleria Park Hotel, one of Interwest Capital’s San Francisco assets, was selected as a 2012 Runner Up for the Revinate Hotel of the Year Award. Out of a pool of more than 15,000 hotels operating across 120 countries, Revinate chose Galleria Park because the hotel has one of the best online reputations in the hospitality industry.
HOUSTON – A San Diego buyer has nabbed a Class-A apartment complex and plans to convert it to student housing.
Interwest Capital Corp. acquired the 180-unit Savoy Apartments at 5500 Sampson St. in Houston’s Medical Center area. The new owners will convert the property to serve University of Houston and Texas Southern University students.
HOUSTON - Interwest Capital Corp. has purchased the 180-unit Savoy Apartments, 5500 Sampson St. in the Medical Center area, from Internacional Realty.
The 11-year-old, Class A multifamily property will soon be converted into student housing to serve University of Houston and Texas Southern University.
Hyatt Place New Orleans/Convention Center is now open in the city’s Warehouse District. The property marks the brand’s first entry into the New Orleans market. It is owned by Hotel New Orleans Holdings LLC, a joint venture between affiliates of HRI Properties and Interwest Capital Corp.
A troubled Midtown Nashville hotel has reopened under a new name and new management.
The former Hotel Indigo on West End Avenue has reopened under the Aloft hotel brand, which is operated by Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT)
TEMPE, AZ-AG-ICC Haven Owner LLC, a joint venture between San Diego-based Interwest Capital Corp. and Angelo, Gordon & Co. in New York City acquired the 660-unit Haven from foreclosure. The JV paid special servicer Petra Capital Management $46.5 million for ownership rights, and plans additional capital investment of $5,000 per unit for upgrades, as well as extra for landscape improvement and a new clubhouse.
Tempe - AG-ICC Haven Owner LLC, a joint venture formed by Angelo, Gordon & Co. in New York City, N.Y. (John Angelo, Michael Gordon, partners), paid $46.5 million ($70,455 per unit) to buy the 660-unit Haven apartments at 1440 E. Broadway Road in Tempe. The seller was Haven Holder LLC, a collateralized debt obligation investment managed by Petra Capital Management in New York City, N.Y.
The Hyatt Place New Orleans/Convention Center hotel is located in the heart of New Orleans’ downtown Arts District, across the street from the Convention Center, and within walking distance of award-winning restaurants, museums and art galleries, shopping, Harrah’s Casino, the riverfront, Aquarium of the Americas, and the French Quarter. The hotel offers a dine-in atrium restaurant, a fitness and business center, three meeting spaces, and complimentary wireless Internet access in guest rooms and public areas. The hotel’s convenient location also offers a direct route to the city’s airport, only 20 minutes away. The hotel has 170 guestrooms.
Interwest Capital Corp. has paid $17.2 million, or $57,333/unit, for the Camino Del Sol Apartments, a 300‐unit complex in the Dallas suburb of Denton, Texas.
The San Diego opportunistic investor, which pursues loans as well as properties, bought the property from a venture of Sterling American Property and Westdale Asset Management, which had owned it since 2006.
NEW ORLEANS, LA – Hyatt Hotels Corporation (NYSE: H) today announces the opening of Hyatt Place New Orleans/Convention Center, marking the first Hyatt Place in the Greater New Orleans area and the 165th Hyatt Place property to date. Centrally located, the hotel is steps away from award-winning restaurants, the Ernest N. Morial Convention Center, and the famous French Quarter. The Hyatt Place opening hits in the midst of peak travel season for the Big Easy on the heels of numerous festival celebrations, including the French Quarter Festival, New Orleans Jazz and Heritage Festival and New Orleans Wine and Food Experience.
DENTON, TX-Following its success with the 240-unit Bridgemoor at Denton, Interwest Capital Corp. came back for more, acquiring the 300-unit Camino Del Sol for $17.2 million. The San Diego investor will renovate the 100% occupied multifamily property, situated on 11 acres, in hopes of boosting rent growth.
Interwest Capital Corporation is proud to announce the acquisition of Camino Del Sol Apartments located at 1030 Dallas Drive in Denton, TX. The property consists of 300 units throughout 24 buildings on more than 11 acres of land. The project will be managed by Pinnacle Realty (www.pinnaclerealty.com), a nationwide management company that currently operates multiple properties on behalf of Interwest.
HFF announced today that it has closed the portfolio sale of 398 rooms consisting of three iconic, generational hotels in the San Francisco Bay area – The Huntington Hotel in San Francisco, and the La Playa Hotel and Cottages-by-the-Sea in Carmel-by-theSea, in which the seller held a fee interest in the properties, as well as the Galleria Park Hotel in San Francisco, in which the seller held a leased-fee interest in the land beneath the hotel.
Interwest Capital Corporation of San Diego is proud to announce the successful acquisition of the 11,943 sf land parcel that sits under the 8-story, 177 room Galleria Park Hotel at 191 Sutter Street in San Francisco. An Interwest entity has owned the improvements on the land since 2005.
NEW ORLEANS—Hotel New Orleans Holdings, a joint venture between affiliates of HRI Properties and Interwest Capital Corporation, has purchased the Hotel New Orleans located across the street from the Ernest N. Morial New Orleans Convention Center. Under a franchise agreement with an affiliate of Hyatt Hotels Corporation, Hotel New Orleans Holdings will rename the property Hyatt Place New Orleans Convention Center, announced Gary Gutierrez, president of HRI Lodging. FBR Capital Markets acted as exclusive advisor to HRI Properties on the transaction.
New Orleans, LA - Hotel New Orleans Holdings, LLC a joint venture between affiliates of HRI Properties and Interwest Capital Corporation, has purchased the Hotel New Orleans located across the street from the Ernest N. Morial New Orleans Convention Center and has executed a franchise agreement with a major national brand.