West Anderson Partners, a hospitality-focused real estate investment firm, has acquired the Graduate by Hilton Storrs, a lifestyle hotel in Storrs, Conn., located directly on the campus of the University of Connecticut. Other terms and conditions were not disclosed.
The acquisition further advances West Anderson Partners' strategy of investing in institutionally branded hospitality assets located in university-anchored markets with durable demand drivers. The Graduate by Hilton Storrs is the primary lodging option for university visitors, alumni, athletic programs and campus-related events.
"The acquisition of this high-quality hotel reflects our continued conviction in university-oriented hospitality assets with strong brand affiliation and year-round demand drivers," Dylan West, co-founder and managing partner at West Anderson Partners, said in a statement. "Graduate by Hilton Storrs sits at the center of a flagship university, and benefits from a combination of strong market fundamentals, prime location, and brand, supporting long-term ownership."
"We look forward to further cultivating our relationship with the university, ensuring the property remains a vital hub for campus life and a premier destination for alumni, students, and visitors," added Steve Anderson, co-founder and managing partner. "The firm intends to invest in property enhancements while continuing to support operational excellence and premier guest service delivery."