» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
TDN Services
Research millions of people and properties [+]
Monitor any person, property or company [+]

Skip Navigation LinksHome >
VOL. 133 | NO. 5 | Friday, January 5, 2018

Memphis Hilton Sells for $31M

By Patrick Lantrip

Print | Front Page | Email this story | Email reporter | Comments ()

The Memphis Hilton, the iconic cylindrical hotel located 939 Ridge Lake Blvd. in East Memphis, has sold for $31 million.

In the deal, Hanover, Massachusetts-based Linchris Hotel Corp., doing business as LCBV Memphis Investment LLC, purchased the 314,782-square-foot hotel from Atlanta, Georgia-based Davidson Hotels and Resorts, doing business as RBD Memphis LLC.

Davidson Hotels and Resorts senior vice president and general counsel Crystal Beasley signed the Jan. 3 warranty deed on behalf of the sellers.

Meanwhile, Lincris took out a $32.5 million construction mortgage through Phoenix, Arizona-based Western Alliance Bank.

Linchris chief financial officer Glenn Gistis signed the warranty deed on behalf of new owners.

Built in 1979, the 405-room hotel sits on 8.7 acres near Poplar Avenue and Interstate 240, and was last appraised for $25 million by the Shelby County Assessor of Property.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 56 437 16,061
MORTGAGES 76 508 18,556
FORECLOSURE NOTICES 8 56 2,461
BUILDING PERMITS 241 876 33,390
BANKRUPTCIES 64 301 10,314
BUSINESS LICENSES 15 125 5,303
UTILITY CONNECTIONS 17 125 6,273
MARRIAGE LICENSES 19 98 3,511