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Virk
closes loan in Washington. Portland, Oregon-based Virk Hospitality Group has closed a $9.8 million
acquisition loan for the extended-stay Sonesta ES Suites in Vancouver,
Washington. Arriba Capital facilitated the loan.

Seven
Hills closes in Massachusetts, Newton, Massachusetts-based Seven Hills Realty Trust has closed a $37 million first mortgage loan secured by the 168-key SpringHill
Suites in Revere, Massachusetts. The property
offers ocean views, is close to Boston Logan Airport, and has strong year-round
demand drivers. The loan has an initial term extending through July 2026 and
three 12-month extension options.

Zachry
adds in San Antonio. San Antonio, Texas-based Zachry Hospitality is opening in March the luxury $185
million, 200-key The Monarch San Antonio. The 17-story property is
situated in the northwestern portion of the Hemisfair area of downtown San
Antonio and will have more than 15,000 sq. ft. of flexible event space.

ARC,
Prosper adding Tampa. Hoover, Alabama-based ARC Realty Group and Prosper Group have closed on the
second parcel for $13.5 million within the three-parcel, one-acre assemblage
for Hotel ORA + Private Residences, a $675 million, mixed-use development
coming to downtown Tampa. The newly acquired site at 205 N. Brush St. will join
the parcel at 1101 E. Jackson St., which the joint venture closed on in summer
2024. The third and final parcel is scheduled to close soon. All
pre-development costs, including land acquisitions to date, have been funded by
the developers with no debt. The milestone comes on the heels of strong sales
momentum, with the developers recently surpassing $200 million in pre-sale
contracts nine months after launching sales.

Kerten
adds in KSA. Dublin-based Kerten Hospitality is expanding its presence in the Kingdom of
Saudi Arabia with Cloud 7 Al Murjan Island Resort – Dammam, a new addition to
Saudi Arabia’s Eastern Province waterfront. The Cloud 7 Al Murjan Island Resort
– Dammam will feature 74 overwater chalets and will also be home to Nyssa
Beach, a ladies-only beach club offering a spa, wellness and fitness
facilities, elegant salon services, and curated social and workspaces.

UAE is
injecting $6B into African tourism. As Africa records fast global tourism growth, UAE leadership has announced it is set to inject $6 billion into the continent’s travel and hospitality sector,
a move expected to create 70,000 new jobs.

JD
Properties acquires in Australia. Singapore-based JD Properties, through its investment and
asset management arm High Street Holdings, has acquired the 102-key George
Williams Hotel in Brisbane, Australia, from Australia-based YMCA Queensland for
an undisclosed amount. The property will be rebranded as George Hotel Brisbane
and adds to High Street Holdings’ Australian portfolio, which includes the
120-key Rydges Perth Kings Square, 167-key The Miller Hotel, and 108-key
Kennigo Hotel Brisbane. YMCA Queensland acquired the property for AUD2.6
million in 1996 from Australia-based Commonwealth Bank of Australia.