August 17, 2018
Chicago-based AJ Capital Partners secured $71 million in financing for the acquisition and transformation of the Hilton Eugene to the Graduate Eugene in Eugene, OR, near the Univ. of Oregon campus. HFF worked on behalf of the borrower 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 renovation and rebranding of the property at 66 East 6th Ave. The hotel will remain open during the work, which will include a complete overhaul of all guestrooms, bathrooms, corridors, lobby and common areas.
Originally constructed in 1982, the hotel currently has 274 guestrooms and, with its access to the adjacent conference center, 30,000 square feet of meeting and event space.
HFF’s debt placement team included Danny Kaufman, Casey Davidson, Jeff Bucaro and Nicole Aguiar.
For comments, questions or concerns, please contact Dennis Kaiser