Four-Hotel Portfolio Trades Hands

COLUMBUS, OH-An investment vehicle of Prudential Real Estate Investors has sold a 1,286-room, four-hotel portfolio to locally based Rockbridge Capital LLC and the Davidson Hotel Co. of Memphis, TN for about $100 million.

Rockbridge says it put up $27.8 million of equity with the Davidson Hotel Co. and sourced a first mortgage loan of $82 million first mortgage loan from CDC Mortgage Capital of New York City to acquire the properties, each of which are located in a different state. The loan includes about $10 million for scheduled capital improvements at the properties, according to CDC.

The individual properties include the 280-room Marriott Renaissance in Agoura Hills, CA; the 273-room Hilton in Eugene, OR; the 347-room Hilton in Kansas City, MO; and the 386-room Hilton in San Antonio, TX.