Interesting. AAF and FEC's parent company just acquired downtown Jacksonville's largest hotel for $53 million. Gotta love the name.....Jacksonville Hotel 2014 Purchaser LLC....
Quote:
The sale of the Hyatt Regency Jacksonville Riverfront to a New York investment fund is a good thing for the Downtown hotel market, according to those in the business.
Fortress Investment Group (NYSE: FIG) paid $53 million for the 963-room Hyatt, which also boasts 110,000 square feet of meeting and convention space. Fortress purchased the hotel from the lender that foreclosed on it 2013.
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http://www.bizjournals.com/jacksonvi....html?page=all
Quote:
The Hyatt Regency Jacksonville Riverfront Hotel was sold this week for $53 million.
The city’s landmark hotel was purchased Monday by New York-based Jacksonville Hotel 2014 Purchaser LLC, a Fortress Investment Group company.
CapitalSource Bank issued a $34.5 million mortgage on Monday. The deed and mortgage were recorded Wednesday with the Duval County Clerk of
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http://jaxdailyrecord.com/showstory.php?Story_id=542234
It's been long rumored that the service would be extended to Jax, assuming the Miami/Orlando line ends up as a success.
This acquisition is probably totally unrelated with bringing passenger rail back to the old downtown terminal but this hotel is the key to getting the convention center out of the old train station, adjacent to FEC's tracks through downtown.
The Hyatt property has first dibs on the old courthouse site across the street. The old courthouse and its parking lot, are the long rumored site for a new downtown convention center.