Nashville-based AJ Capital Partners is seeking to sell one of its only two international hotels on the market, according to a news release from broker CBRE, which is managing the transaction.
The 148-room Graduate by Hilton Cambridge, in the English university city, has an expected guide price “in excess of £60 million ($81.44 million) to £65 million ($88.23 million),” according to CBRE.
AJ Capital Partners founded Graduate in 2014, and it currently has 35 hotels, with 33 of them being in the U.S.
Hilton acquired the Graduate Hotels brand in March 2024 for $210 million. The brand's portfolio is geared toward hotels in university cities.
According to CoStar, AJ Capital Partners acquired the Cambridge hotel in 2019 for an undisclosed price, when it was known as the DoubleTree by Hilton Cambridge. The property became part of the Graduate brand in 2020 and was last renovated with an additional 10 rooms in 2021. The hotel is held on a long leasehold basis and has a restaurant and 151 parking spaces, among other facilities.
On the banks of the River Cam, the Graduate by Hilton Cambridge is operated by Louisville, Kentucky-based Schulte Hospitality Group, which manages more than 230 properties across the U.S. and U.K.
Graduate Hotels' only other property in England is the 151-room Randolph Hotel Oxford, a Graduate by Hilton Hotel, in Cambridge’s university rival, Oxford. Similarly, AJ Capital Partners owns the Randolph Hotel Oxford Graduate and Schulte also manages the property.
According to CoStar, AJ Capital Partners acquired The Randolph in November 2019 for approximately £11.9 million from U.K. hotel firm Macdonald Hotels & Resorts and Scotland’s Strathclyde Pension Fund. The pension fund had owned the property's freehold interest since May 2014.
AJ Capital Partners' portfolio includes approximately 60 properties, including more than 7,400 hotel rooms.