Inland American Lodging Buys 248-Key Hilton Hotel

GAINESVILLE, FL-Orlando-based Inland American Lodging Corp. has acquired the 248-room University of Florida Hilton Hotel. The hotel was acquired from Cornerstone Real Estate Advisors LLC. The acquisition price was not released, but the property is valued at more than $20 million, according to public records. Inland American Lodging Corp. is a subsidiary of Oak Brook, IL-based Inland American Real Estate Trust Inc. The hotel will remain a Hilton property and will be managed by Memphis-based Davidson Hotel Co. “Investors were attracted to the Hilton’s overall quality, extensive conference center facilities and the consistent demand base generated by its University of Florida orientation,” says Molinaro Koger senior vice president Ali Baheri. Washington, DC-based Molinaro Koger represented Cornerstone Real Estate Advisors.