Linchris Acquires 225-Room Hotel Near University of Michigan
ANN ARBOR, MICH. — An affiliate of Linchris Hotel Corp. has acquired the Holiday Inn Ann Abor near the University of Michigan for an undisclosed price. The 225-room, full-service hotel was developed in 1980 and renovated in 2012. The property features more than 6,800 square feet of meeting space, a full-service restaurant, fitness center, video arcade, business center, salon, pool and tennis and basketball courts. Greg LaBine, Jeff Bucaro, Nicole Aguiar and Matthew Schoenfeldt of HFF arranged a five-year, fixed-rate loan for the acquisition. Loan proceeds will also be used to execute a property improvement plan that will include modernizing the guestrooms, bathrooms and building envelope.