POTOMAC, Md., Oct. 5, 2016 /PRNewswire/ -- The Cordish Companies have acquired combined Homewood Suites and Hilton Garden Inn properties, with plans to rebrand the hotels as a 250 room boutique hotel known as Live Lofts. This acquisition will compliment the $1.3 billion project known as Maryland Live! Casino in Hanover, Maryland, which includes a $200M expansion of the casino property near the BWI Marshall Airport. The Cordish Companies plan a major renovation that will reposition the property as a boutique hotel with top tier accommodations. Sam Spiritos, chair of the Hospitality Practice at Shulman Rogers and leader of their acquisition team, said, "I was very pleased to work with David Cordish, Charlie Jacobs and the whole Cordish team in Baltimore on this latest step in realizing their vision for Maryland Live! as a first class destination for lodging and entertainment."
The Shulman Rogers Hospitality Practice represents clients across the nation in new hotel development projects, as well as the rebranding and repositioning of existing hotels, including construction and permanent financing, joint ventures and licensing and management agreements. Recent projects include: a joint venture project for the development of a conference center and 336 room combined Marriott Residence Inn/Marriott Courtyard hotel for a leading hotel management company as part of a $200M mixed-used development in Metro Washington; representing a national lender/developer in a $50 million hotel portfolio financing for properties in Atlanta, Georgia; negotiating joint venture documents for the acquisition of a portfolio of hotels in Florida; and the negotiation of a management agreement for a conference center and hotel containing 128 guest rooms and suites in Illinois.