AWH Partners Acquires Mortgage on Hilton Jackson
JACKSON, Miss.—AWH Partners, LLC., a joint venture of Winston Harton Holdings, LLC (WHH) and August Group Ventures, LLC (AGV), announced the all-cash acquisition of the mortgage secured by Hilton Jackson Mississippi. The 276-room hotel will remain a Hilton property and immediately utilize new capital to enhance the guest experience while maintaining its reputation as a distinguished Jackson gathering location. READER COMMENTS
“The mortgage was acquired in less than 40 days from when the parties agreed on deal terms and fewer than 30 days from the contract signing,” said Russ Flicker, principal of AWH Partners, in an announcement. “We are working consensually with Hilton and the current hotel owner to take control and invest considerable capital.”
Lane Hotels Inc., a subsidiary of AWH Partners, will continue to manage the hotel as well as the four dining outlets, including Huntington’s Grille, Wellington’s and Fitzgerald’s.
“It’s exciting to be in a position right now to be able to acquire high quality properties like Hilton Jackson,” said Principal of AWH Partners, Chad Cooley. “We can move quickly on complicated acquisitions, working with developers, owners and lenders who are seeking resolution on capitalization issues as well as focus where we see opportunities to leverage our development and repositioning experience.”
AWH Partners’ purchase is part of an ongoing joint venture with an institutional equity source designed to pursue additional hospitality investments.
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