AVANA Companies, a private credit lender specializing in commercial real estate lending, has closed a $12.5 million loan for the acquisition of a Hilton hotel in Dublin, Ohio, through its joint venture AVANA-Oaktree Private Credit Partnership with Oaktree Capital.
Ask Dublin Holding, LLC, a long-time client of AVANA since 2005, secured funding to acquire a 126-room Home2 Suites by Hilton that will create jobs and support the local economy. “We see tremendous potential in the Dublin market, and this acquisition aligns perfectly with our growth strategy,” said Mike Desai, Chief Financial & Chief Development Officer of the Palace Group and Ask Dublin Holding, LLC.
By providing capital to experienced hotel operators, AVANA aims to create economic benefits in communities across the United States. “Private credit continues to become more valuable for the hospitality industry, offering the speed, certainty of closing and tailored solutions that entrepreneurs need in today’s dynamic market,” said Sundip Patel, CEO and Co-founder of AVANA Companies.
The post AVANA, Oaktree Partnership Closes $12M Hilton Hotel Deal appeared first on Connect CRE.
