New York, New York – November 10, 2022 - RobertDouglas announced today that it represented, as exclusive advisor, Affiliates of Concord Hospitality, Whitman Peterson, and Creation Gardens in the successful marketing and sale of the AC Hotel Louisville Downtown. The transaction was valued at $51 million.
The institutional-quality asset, newly built in 2018, features 156 guestrooms, the 3,290-SF leased restaurant bar Vetti, 2,629 SF of meeting space, and a parking garage with 187 spaces.
The Hotel is desirably located in the heart of Downtown Louisville's hippest neighborhood, the East Market District or New Louisville ("NuLu"), which is home to award-winning restaurants and some of the most renowned distilleries, breweries, and eateries in Kentucky.
Within a mile radius, Downtown Louisville features over 17 million SF of office space, including the headquarters of Humana and Kindred Healthcare. In addition, Downtown Louisville is home to the recently renovated and expanded 960,000 SF Kentucky International Convention Center, the 22,000-seat KFC Yum! Center Arena, the 13,000-seat Louisville Slugger Field, and the 12,000-seat Louisville City Football Club Stadium.
Patrick Tan, RobertDouglas Vice President, commented, "NuLu will be the beneficiary of a $500 million real estate development pipeline that will transform the landscape of both the submarket and Louisville as a whole. The AC Hotel Louisville Downtown will be at the center of this growth for many years to come"
"The AC Hotels by Marriott brand continues to be a rising star among the premium-branded select service category," added Evan Hurd, RobertDouglas Principal and Managing Director. "We are proud to have represented Affiliates of Concord Hospitality, Whitman Peterson, and Creation Gardens in this competitive sale process. The high level of interest in this sale speaks volumes to their visionary development strategy. This transaction represents a record price for the market, and continues what has been an outstanding year for our firm."
According to Paul Novak, Whitman Peterson Executive Director, "The RobertDouglas team recognized the value of this hotel and executed through the difficult capital market environment. We value our relationship with RobertDouglas and are delighted with the outcome of this transaction."
About RobertDouglas
RobertDouglas is a real estate investment banking firm with offices in New York, Nashville, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded in January 2013 and currently led by its four partners, Rob Stiles, Doug Hercher, Stephen O'Connor and Evan Hurd, RobertDouglas offers access to exceptional domestic and international institutional investor and lender relationships as it combines the capital markets sophistication of top-tier investment banks with diligent hotel underwriting and proven asset management experience. For more information, contact info@robert-douglas.com or go to www.robert-douglas.com.
