{"id":1004087602,"date":"2013-11-26T09:02:52","date_gmt":"2013-11-26T17:02:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=219882"},"modified":"2025-02-19T05:59:57","modified_gmt":"2025-02-19T13:59:57","slug":"lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\/","title":{"rendered":"Lodging Capital Partners and Lubert-Adler Team Up On Embassy Suites Memphis Acquisition"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

\"\"<\/a>Real estate investment banking firm RobertDouglas announced it has advised Chicago-based Lodging Capital Partners LLC and Philadelphia-based Lubert-Adler Management Co. on the $22.6 million acquisition financing of the 220-key Embassy Suites Memphis.<\/p>\n

Financing was provided by a national life insurance company, identified by The Memphis Daily News<\/em><\/a> as Great American Life Insurance Co. According to the same source the final sale price was $24.8 million.<\/p>\n

PropertyShark.com<\/em><\/a>\u2019s <\/em>assessment puts the property\u2019s market value in 2013, including land value, at $18,657,900. The real estate website\u2019s data also shows that its previous owner, Twenty Two Shady Grove LLC, purchased the 1989-built asset for $18.9 million in June 2007. The LLC is an affiliate of Potomac, Maryland-based Haberhill LLC. According to Haberhill\u2019s website<\/a><\/em>, the company picked up Embassy Suites Memphis from Hilton Hotels Corp. and jointly owned it with affiliates of Brickman Associates with a 125 percent return on its partner\u2019s original capital.<\/p>\n

Located at 1022 Shady Grove Road, in the East Memphis submarket, the 172,019-square-foot hotel sits on a 3.99-acre lot. Its location in the affluent Germantown\/Poplar area has enabled the hotel to boast consistent cash flow and uninterrupted RevPAR growth over the past decade, becoming one of the strongest performing hotels in Memphis.<\/p>\n

The property features amenities such as 4,000 square feet of meeting space, including a 3,000-square-foot hall, \u00a0indoor swimming pool and whirlpool, fitness center, business center, gift shop, complimentary shuttle service and famous \u00a0onsite restaurant Frank Grisanti\u2019s.<\/p>\n

Lodging Capital Partners and Lubert-Adler Management are planning a multi-million dollar property renovation, due to which RobertDouglas arranged\u00a0 \u201ca hybrid execution that provides interest-only flexibility during the renovation period while preserving attractive fixed-rate pricing through the term of the loan on a non-recourse basis,\u201d according to Chris Ropko, one of RobertDouglas\u2019 Los Angeles office directors. \u00a0Embassy Suites Memphis most recently underwent a renovation process after its 2007 sale. The $5.5 million process completed in the first quarter of 2008.<\/p>\n

Embassy Suites Memphis is Lodging Capital Partners\u2019 first Tennessee and Greater Memphis Area acquisition.<\/p>\n

Photo courtesy of Embassy Suites Memphis via Facebook<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Real estate investment banking firm RobertDouglas announced it has advised Chicago-based Lodging Capital Partners LLC and Philadelphia-based Lubert-Adler Management Co. on the $22.6 million acquisition financing of the 220-key Embassy Suites Memphis.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[1595,1815],"class_list":["post-1004087602","post","type-post","status-publish","format-standard","hentry","category-latest","tag-memphis","tag-national"],"acf":[],"yoast_head":"\nLodging Capital Partners and Lubert-Adler Team Up On Embassy Suites Memphis Acquisition - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lodging Capital Partners and Lubert-Adler Team Up On Embassy Suites Memphis Acquisition\" \/>\n<meta property=\"og:description\" content=\"Real estate investment banking firm RobertDouglas announced it has advised Chicago-based Lodging Capital Partners LLC and Philadelphia-based Lubert-Adler Management Co. on the $22.6 million acquisition financing of the 220-key Embassy Suites Memphis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-11-26T17:02:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T13:59:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/11\/Embassy-Suites-Memphis.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"Lodging Capital Partners and Lubert-Adler Team Up On Embassy Suites Memphis Acquisition\",\"datePublished\":\"2013-11-26T17:02:52+00:00\",\"dateModified\":\"2025-02-19T13:59:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/\"},\"wordCount\":351,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/11\\\/Embassy-Suites-Memphis.jpg\",\"keywords\":[\"Memphis (No longer used)\",\"National\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lodging-capital-partners-and-lubert-adler-team-up-on-embassy-suites-memphis-acquisition\\\/\",\"name\":\"Lodging Capital Partners and Lubert-Adler Team Up On Embassy Suites Memphis Acquisition - 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