Sheraton Raleigh Hotel

In September 2012, a joint venture comprising Northview Hotel Group and a subsidiary of Oaktree Capital Management acquired the 353-key Sheraton Raleigh Hotel through an off-market opportunity.

Northview and the seller negotiated a discounted pay-off of the debt on the property (set to mature in November 2012) with Northview buying the first mortgage and the seller receiving a “hope note.” NVHG Management oversaw daily operations of the Hotel on behalf of the venture, and was responsible for the re-development and re-positioning of the Hotel, which included the addition of a new restaurant, coffee bar, great room and front desk along with a total makeover of its 25,000 sf of meeting space, plus upgrades to its suites, concierge lounge and fitness center.

Northview sold the property in July 2015.