Northshore Development has acquired the 291-room Hilton Baton Rouge (La.) Capitol Center for $40.5 million. Real estate brokerage firm Marcus & Millichap oversaw the transaction.
"This was a complex, year-long transaction involving multiple stakeholders and a nationally recognized riverfront asset," Chase Dewese, senior director of investments with Marcus & Millichap, said in a statement. "The hotel is one of downtown Baton Rouge's most prominent hospitality properties, and the new ownership is well positioned to advance a targeted repositioning and operations strategy in a Louisiana State University-anchored market."
Dewese, along with Jack Davis and Joce Messinger of Marcus & Millichap—in association with Steve Greer, Marcus & Millichap's broker of record in Louisiana—exclusively represented Orlando-based Northshore Development. "The Hilton Baton Rouge Capitol Center is a wonderful, historic property, and we are excited to bring the best service and experiences to our guests," said Northshore Development CEO Franz Hanning.
The hotel overlooks the Mississippi River from the City Center in Downtown Baton Rouge. Louisiana's Old State Capitol is two blocks away and the Louisiana Art and Science museum, Shaw Center, Raising Cane's River Center and the Central Green are nearby.