Jackson Hilton’s new owners get $16 million loan on hotel

August 16, 2012

Banking & Finance, Real Estate

August Group Ventures has received a $16 million loan to complete its acquisition of Jackson’s Hilton Hotel at 1001 County Line Road.

August Ventures is taking over the 276-room hotel as part of its April acquisition of the hotel’s previous owners, Lane Hotels.

The hotel will remain a Hilton, according to Adam Robinson, loan officer for American Real Estate Capital, a Coral Gables, Fla., firm that provided the $16 million. “Hilton will remain the flag for at least the next 15 years,” Robinson said in an interview Thursday.

The multi-story Hilton, built in 1985, is a full-service property that has 27,000 square feet of meeting space.

Robinson said some upgrades are likely for the hotel to keep it a “Class A” property. “They’ll put some additional money into hotel for the next couple years,” he said.

 

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