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VOL. 133 | NO. 5 | Friday, January 5, 2018

Memphis Hilton Sells for $31M

By Patrick Lantrip

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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.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
FORECLOSURE NOTICES 29 82 1,716
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700
BUSINESS LICENSES 28 151 3,584
UTILITY CONNECTIONS 33 172 4,155
MARRIAGE LICENSES 20 111 2,290

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