The Crowne Plaza
Wilmington Team
PROJECT SPONSOR /
CIL CAPITAL
The CIL Capital team is led by David Michael (“Mike”) Hockett, an award-winning and innovative leader in the automotive industry for over six decades. Mike built and developed 40 auction facilities throughout the U.S. and Canada. He founded what have become two of the largest vehicle auction chains and independent financing services in North America.
Mike recognized how businesses are being transformed through the use of the internet and how distribution has become instrumental in the overall success of any business. Mr. Hockett established CIL Capital to identify and close industrial supply chain gaps.
The CIL Capital strategy focuses on providing resources to growing small to mid-sized businesses in in combination with real estate development
Representative Projects
- Acquisition of a 67,000 square foot industrial storage
- Redevelopment of a three million square foot (approximately 70-acre) former GM manufacturing facility in Framingham, MA into an auction facility in less than a year
- Demolition of a former John Manville Manufacturing facility comprised of 19 buildings and two million square feet and redeveloping the 217-acre site into an auction facility in Manville, NJ in less than a year
- Development of three first-of-their-kind auction facilities in Nashville, TN, Washington Dulles, VA, and Indianapolis, IN in a two-year time span and incorporating theaters that facilitated the selling of vehicles online
PROJECT DEVELOPER /
AC DEVELOPERS LLC
AC DEVELOPERS LLC (“AC”) has been an active hotel developer since 2006. Its principals are: brothers Stephen “Chip” Weiss and Andrew Weiss, fourth generation real estate professionals; Ray Dar, AC’s Director of Construction, has 35 years of development and construction experience; Caleb Weiss, AC’s Senior Project Manager, has more than 13 years of similar experience.
AC has developed or co-developed 10 hospitality projects, with 3 more in development as of February 2024. AC is active in all phases of each project including land acquisition, planning and design, selecting the brand, negotiating the franchise and hotel management agreements, arranging debt and equity financing, FF&E design and procurement, permitting and approvals, and construction supervision. Additionally, we specialize in fee development and property improvement plans (PIP.) The Company’s principals have also been investors in nearly all of these projects and have performed asset management.
Their development expertise was honed in New York City, which is one of the highest barrier-to-entry markets in the world. Factors such as land prices, fluctuating construction costs, complex development rules, logistics and site logistics, an aggressive Buildings Department and the largest city bureaucracy in the nation contribute to make any hospitality project far more challenging than in other locales. No independent builder in New York is more experienced in the nuances of the development and construction of hotels than AC Developers.
AC is currently the fee developer for an IHG owned 288 key hotel project in Orlando, Florida.
AC has developed 10 hotels (1,747 keys) in New York City, totaling more than 1,200,000 square feet with a total development value of nearly $1,300,000,000.
- Wyndham Garden (224 keys)
- The Distrikt Hotel (155 keys)
- Hilton Fashion District (280 keys)
- TRYP Hotel Times Square South (173 keys)
- Courtyard by Marriott Chelsea (273 keys)
- The Archer Hotel (180 keys)
- HY36, A Crowne Plaza Hotel (251 keys)
- Hotel Shocard (47 keys)
- voco The Franklin Hotel (50 keys)
- voco Hotel Fiorello- LaGuardia East (114 keys)
GENERAL CONTRACTOR /
W.M. Jordan Company
ARCHITECT/INTERIOR DESIGNER /
CMJW ARCHITECTURE
