Latest news: Henderson Park buys 5 in France; notable refis in NYC, Seattle

Henderson Park acquires 5 in France. London-based Henderson Park has acquired a portfolio of five hotels in France and Paris-based asset management company Atream for an undisclosed amount. The purchase was made in two separate transactions, first from French institutional investors of the hotel properties and second, the transfer of operations by the hotel operator. The properties have 645 total rooms in mid-scale hotels built between 2000 and 2011 that are operated Novotel Suites brand. Accor, which has signed new management agreements, will continue to manage the hotels.

$40M NYC refinance. Lake Oswego, Oregon-based The Lam Group has secured a $40 million refinance for the 158-key Chelsean New York Hotel. The Lam Group will use some of the proceeds to fund capital improvements. Chatham, New Jersey-based Cronheim Mortgage arranged the financing.

$29.5M refi in Seattle. Bellevue, Washington-based Staypineapple has secured a $29.5 million refinancing for the 139-key The Maxwell Hotel, a boutique hotel in Seattle. JLL worked on behalf of the borrower to secure the 10-year, fixed-rate loan through a regional credit union.

Brooklyn hotel won at auction. Santa Monica, California-based Beach Point Capital won the historic Hotel Bossert in Brooklyn, New York, at a foreclosure auction on Thursday with the sole $120 million bid. Joseph Chitret of The Chetrit Group and David Bistricer acquired the 14-story hotel in 2013 and ran into multiple financial difficulties with loans that were obtained for renovations. Chitret bought out Bistricer’s interest in the building in 2019, but the financing then went into special servicing.

Wyndham, Signum partner. Wyndham Hotels & Resorts is partnering with Faridabad, India-based Signum Hotels and Resorts to operate hotels under Wyndham’s Trademark Collection in India, the U.K., and the United Arab Emirates. This collaboration aims to add 5,000 keys over the next five years. As part of this collaboration, properties will join under the Trademark Collection by Wyndham and will be managed by Signum Hotels. Signum has an established presence in the U.K. and the Middle East, including 900 serviced apartments.

KKR closes on $850M fund. New York City-based KKR has raised more than $850 million at the final close of its opportunistic real estate credit fund II (ROX II). ROX II is KKR’s flagship private fund investing across KKR’s real estate capabilities and is dedicated to investments in senior loans and real estate securities in the U.S. and Western Europe. The strategy has a flexible mandate to pursue attractive risk-adjusted returns across both loans and securities. Loan originations focus on first mortgages secured by high-quality properties owned by institutional sponsors and in major U.S. and Western European markets.

Extended-stay RevPAR. Extended-stay hotel RevPAR has gained 40%-plus in 19 MSAs since 2021, but some still lag in 2019, according to the latest data from The Highland Group. The recovery from the pandemic is a distant memory in most markets, and extended-stay hotels in 19 MSAs reported RevPAR growth of 40% or more since 2021, with only four showing a decline. Five MSAs, including San Jose and San Francisco, still reported lower extended-stay hotel RevPAR in 2024 compared to its nominal value in 2019. “With increasing demand and low supply growth forecasted, the near-term outlook for extended-stay hotels is very good in many MSAs and nationally,” said Mark Skinner, partner at The Highland Group.

Minor adds in UEA. Minor Hotels is partnering with Dubai-based RRS International Development FZ-LLC to bring its NH Collection brand to Al Marjan Island in Ras Al Khaimah in the United Arab Emirates. The 156-key NH Collection Ras Al Khaimah Al Marjan Island Hotel & Apartments is scheduled to open in early 2028. Minor Hotels currently operates 17 properties in the UAE across four brands.