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Hilton Eugene, Eugene, OR
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| Daniel Kaufman |
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the $71 million financing for the acquisition and transformation of
the Hilton Eugene to the Graduate Eugene in Eugene, Oregon, near the University
of Oregon.
The HFF team worked on behalf of the borrower, AJ Capital
Partners, to place the three-year, floating-rate loan with two one-year
extension options with Starwood Property Trust.
Loan proceeds will be used toward acquisition
costs along with the transformation and rebranding of the hotel into Graduate
Eugene, part of the Graduate Hotels® collection.
The hotel will remain open during the
renovations, which will include a complete overhaul of all guestrooms,
guestroom bathrooms, corridors, lobby and common areas.
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| Nicole Aguiar |
Originally constructed in 1982, the hotel currently has 274
guestrooms and, with its access to the adjacent conference center, has 30,000
square feet of meeting and event space, making it the only hotel in the market
that can accommodate large conferences, meetings and banquets.
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| Jeff Bucaro |
Graduate Eugene will create a unique food and
beverage space reflecting the local culture and cuisine, including a lobby café
and an indoor-outdoor beer garden that will complement and connect the hotel,
conference center and adjacent Hult Center for the Performing Arts.
Situated
at 66 East 6th Avenue, the hotel is in the heart of downtown Eugene and offers
direct, walkable access to the Central Business District, PeaceHealth Sacred
Heart Medical Center and University of Oregon campus.
Graduate Eugene is
12 miles from the Eugene’s airport, provides quick access to Interstate 5 and
is two blocks south of the Eugene Amtrak station.
The HFF debt placement team representing the borrower consisted of
managing directors Danny Kaufman and Casey Davidson, senior
director Jeff Bucaro and associate Nicole Aguiar.
“It has been a pleasure to
work on this transaction with the team at AJ Capital,” Kauffman said.
“There was strong demand for the financing due to AJ’s commitment to the
Graduate brand and their reputation as innovative hoteliers with exceptional expertise
within the boutique hotel space.”
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| Casey Davidson |
AJ Capital Partners, based in Chicago, is an accomplished team of
hospitality and real estate investors whose innate passion is to create a
one-of-a kind portfolio of timeless assets.
The
counter-culture investors acquire, design and develop transformative real
estate throughout the United States. In fall 2014, AJ Capital Partners launched
the Graduate Hotels® collection.
AJ Capital Partners continues to grow its
portfolio of lodging investments, firmly establishing the group as visionary
leaders in the lifestyle-driven investment industry. For more information on AJ
Capital Partners, please visit www.ajcpt.com.
Starwood Property Trust (NYSE: STWD), an affiliate of global
private investment firm Starwood Capital Group, is the largest commercial
mortgage real estate investment trust in the United States.
For more information, please contact:
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
