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8/17/18
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AJ Capital Partners has secured $71 mil in financing for the acquisition and transformation of the Hilton Eugene to the Graduate Eugene in Eugene, OR, near the University of Oregon.
Originally constructed in 1982, the hotel currently has 274 guestrooms and, with its access to the adjacent conference center, has 30k sf of meeting and event space, making it the only hotel in the market that can accommodate large conferences, meetings and banquets. 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 Ave, 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. Located 12 miles from Eugene’s airport, Graduate Eugene provides quick access to Interstate 5 and is situated just two blocks south of the Eugene Amtrak station.
Danny Kaufman, Casey Davidson, Jeff Bucaro and Nicole Aguiar with HFF arranged the three-year, floating-rate loan with two one-year extension options, which was funded through 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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