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Dec. 21, 2012

Glenwood Hospitality Debuts $15M New Hampton Inn and Suites Hotel in Raleigh

by Adriana Pop, Associate Editor

The new Hampton Inn & Suites Raleigh Downtown is officially open.  Located at 600 Glenwood Avenue, the boutique-style property offers 126 guestrooms.

According to the Triangle Business Journal, it is the first hotel to open in the city’s downtown area since the Raleigh Marriott City Center launched on Fayetteville Street in 2008. The property is also the first lodging construction project in the Glenwood South district.

Glenwood Hospitality Associates LLC has developed the $15 million six-story building. Amenities include free hot breakfast, a 24-hour business center, a modern fitness center, and an indoor heated pool. Guestrooms are equipped with free high-speed internet access, lap desk and HDTV. The hotel also features 1,000 square feet of retail space, a 970-square-foot meeting room and a patio with a fire pit.

“Hampton combines quality, innovation, comfort and plenty of value-added extras, making it the brand of choice in the marketplace today,” said Tony Gomez, general manager of the Hampton Inn & Suites Raleigh/Downtown.

Hampton Inn & Suites Raleigh Downtown is owned by Stewart Hotel Associates LLC and operated by Prime Investments LLC. The new hotel is the tenth Hampton property in Raleigh, while five more are slated to open in North Carolina.

In regional news, Weinstein Properties of Glen Allen, Va. has acquired the 288-unit Alexan Panther Creek apartment complex in Cary. The Triangle Business Journal reports that Trammell Crow Residential of Dallas sold the upscale property for $33.5 million.

Developed in 2008, Alexan Panther Creek is the seventh multifamily acquisition for Weinstein Properties in the Raleigh region. The investor now plans to re-brand its new property as Bexley Panther Creek. The company owns and operates six other Bexley-branded luxury apartment communities in Raleigh, Cary, Morrisville and Wake Forest. Since 2004, Weinstein has invested more than $232.1 million in the purchase of its Triangle apartment complexes for an average of $103,900 per unit.

Photo credits: hamptoninn3.hilton.com

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