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| DoubleTree by Hilton Downtown Little Rock Hotel, 424 West Markham Street, Downtown Little Rock, AR |
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| John Bourret |
BOSTON, MA – HFF announced it has closed the sale of the
288-key DoubleTree by Hilton Downtown Little Rock hotel in Little Rock,
Arkansas.
HFF marketed the property on behalf of the seller, a joint
venture between Trinity Hotel Investors L.L.C. and BayNorth Capital LLC. An affiliate of New York-based Fifth Avenue
Capital, LLC and the Waterford Hotel Group of Connecticut purchased the
offering free and clear of debt.
The
full-service DoubleTree by Hilton Downtown Little Rock is located at 424 West
Markham Street in the northern part of downtown Little Rock and is attached to
the Robinson Center Music Hall, Little Rock’s premier performing arts venue,
which is undergoing a $68.6 million reconstruction.
The hotel is within walking distance to the River Market
Entertainment District, approximately one mile to both the William J. Clinton
Presidential Center and Library and Highway 167, and less than a mile and a
half from the Arkansas State Capitol.
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| Alan Suzuki |
The 14-story hotel has completed more than $10 million in
capital expenditures in recent years and features the Plaza Grille and Lounge,
a business center, swimming pool, fitness center and 12,000 square feet of
meeting space.
The
HFF investment sales team representing the seller was led by managing directors
Denny Meikleham and John Bourret and director Alan Suzuki.
“The DoubleTree Little Rock transaction represented a
fantastic opportunity for potential buyers to acquire a well-located,
DoubleTree-branded hotel, with strong in-place cash flow and tremendous upside
potential following the reconstruction of the Robinson Center Music Hall,”
Meikleham said.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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