Innsbrook Hilton Garden Inn Sold for $20 million

September 23, 2014

The Hilton Garden Inn on Cox Road sold earlier this month for $20 million, Henrico County property records show.

The six-story hotel was sold Sept. 12 by LTD Hospitality Group, a Chesapeake business that owns dozens of hotels under a variety of brand names around the country. The buyer is MCR Development, which is based in New York City. MCR bought the building under a limited liability corporation called MCRT2 Richmond LLC.

The assessed value for the property is $11,182,600, with the value of the land accounting for about $1.46 million of that total.

The hotel isn’t the only one in Innsbrook to change hands recently. In June the Marriott West hotel was purchased by Lingerfelt CommonWealth Partners.