Government of Kansas City sells Hilton Garden Inn

Hilton Garden Inn Kansas City

The Unified Government of Kansas City, Mo., and Wyandotte County unloaded a downtown hotel to pay back outstanding debt.

The 147-room Hilton Garden Inn in downtown Kansas City was sold to Fairwood Capital, a real estate firm based in Memphis, Tenn., for $8.8 million.

The sale was organized to cover outstanding debt obligations held by city government and create a base for $2 million in planned renovations to the Reardon Convention Center, which is attached to the hotel. The Unified Government continues to own the Reardon Convention Center.

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In addition, the Unified Government signed a five-year management agreement with Brancato Catering to manage the Reardon Convention center, providing exclusive booking, event and catering services.

Before the sale, the Unified Government owned a 49.5 percent stake in the hotel, with the remainder held by KCK Investors (49.5 percent) and Landmark Hotel Co. (0.1 percent). The hotel was constructed in 2002 and completed a $2-million renovation in 2013.

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