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AWH Partners, LLC Acquires Mortgage on Hilton Jackson
Winston Harton Holdings, LLC and August Group Ventures, LLC Expand Venture Through Acquisition of Hilton Hotel in Jackson, Miss
May 08, 2012
JACKSON, Miss. and NEW YORK - AWH Partners, LLC (AWH) -- a joint venture of Winston Harton Holdings, LLC (WHH) and August Group Ventures, LLC (AGV) -- today announced the all-cash acquisition of the mortgage secured by Hilton Jackson Mississippi, the premier, 276-room, sophisticated hotel offering best-in-class conference and catering services from an institutional lender. The 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.
"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. "We are working consensually with Hilton and the current hotel owner to take control and invest considerable capital."
The classic elegance and exemplary customer service of Hilton Jackson is enhanced by tasteful accommodations, casual and fine dining options as well as 30,000 square feet of convention and conference space. Conveniently located in Mississippi's state capitol at Interstate 55 and County Line Road, Hilton Jackson is only 13 miles from the Jackson-Evers International Airport and minutes from downtown Jackson.
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. The seasoned team of AGV and WHH bring extensive experience in hospitality investment, development and management.
For further information or to make reservations at Hilton Jackson, visit www.jackson.hilton.com or call 800-Hiltons (800-445-8667). Media can access images and more information at www.hiltonglobalmediacenter.com/jackson.
AWH Partners, LLC
The Mayfield Group
+1 850 421-9007
About AWH Partners, LLC
AWH Partners, LLC, a joint venture between August Group Ventures, LLC and Winston Harton Holdings, LLC, offers an experienced institutional investment and management platform with dedicated capital. For more information, visit www.awhpartners.com.
About August Group Ventures, LLC
August Group Ventures is a privately held real estate investment, development and management firm founded in 2009 by New York-based Related Companies veteran Chad Cooley to pursue opportunities in the ailing hospitality market. August Group owns and manages hotels around the United States and seeks opportunities to invest in and manage assets requiring capital, repositioning and turn-around expertise. For more information, visit www.augustgroupventures.com.
About Winston Harton Holdings, LLC
Winston Harton Holdings, LLC (WHH) was established by Russell Flicker and Jonathon Rosenfeld to acquire distressed, value-added and operationally intensive real estate assets through equity and debt. Its principals have extensive experience and complementary skill set in the real estate sector, including acquisitions (private transactions and public securities), capital markets and asset management and asset repositioning. WHH will partner with both traditional institutional capital as well as private pools of capital to pursue transactions ranging from $10 - $250 mm. For more information, visit www.whhllc.com.
About Lane Hotels
Lane Hotels offers expertise in all facets of hospitality management and is committed to preserving, protecting and enhancing the value of hotel real estate. For more information, visit www.lanehospitality.com
About Hilton Hotels & Resorts
For nearly a century, Hilton Hotels & Resorts has been proudly welcoming the world's travelers. With more than 570 hotels across six continents, Hilton Hotels & Resorts provides the foundation for memorable travel experiences and values every guest who walks through its doors. As the flagship brand of Hilton, Hilton Hotels & Resorts continues to set the standard for hospitality, providing new product innovations and services to meet guests' evolving needs. Hilton Hotels & Resorts is a part of the award-winning Hilton Honors program. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount that can’t be found anywhere else, free standard Wi-Fi and digital amenities like digital check-in with room selection and Digital Key (select locations), available exclusively through the industry-leading Hilton Honors app. Begin your journey at www.hilton.com and learn more about the brand by visiting news.hilton.com or following us on Facebook, Twitter and Instagram.
Hilton (NYSE: HLT) is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 5,100 properties with nearly 838,000 rooms in 103 countries and territories. Hilton is dedicated to fulfilling its mission to be the world’s most hospitable company by delivering exceptional experiences – every hotel, every guest, every time. The company's portfolio includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton Honors. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose exactly how many Points to combine with money, an exclusive member discount that can’t be found anywhere else and free standard Wi-Fi. Visit newsroom.hilton.com for more information and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram, and YouTube.