BATON ROUGE, LA. — Atlanta-based Hunter Hotel Advisors has brokered the sale of Crowne Plaza Executive Center Baton Rouge, a 294-room hotel located near the campus of Louisiana State University (LSU) and Tiger Stadium. APM Property Holdings LLC purchased the hotel from a private seller for an undisclosed price and has selected Schulte Hospitality to operate the hotel.
The Crowne Plaza features an outdoor pool, a 3,000-square-foot fitness center, the Patio Grille and Lounge restaurant and more than 32,000 square feet of flexible event space, including 17 meeting rooms and three ballrooms.
Tim Osborne and Kami Burnette of Hunter brokered the transaction. Additionally, Adeel Amin of Hunter arranged an $11.7 million acquisition loan that was underwritten at a 65 percent loan-to-value ratio with interest-only payments over the three-year term.