Total $0.00


Palo Alto, Ca. – AJ Capital Partners announced today that it has acquired the President Hotel Apartments, formerly Hotel President, in Palo Alto, California. The six-story building is located on University Avenue, in the heart of downtown Palo Alto. Completed in 1929, the iconic Hotel President was named to honor then-President Herbert Hoover, who was one of the first students to enroll at Stanford University. Currently a mix of retail and apartments, the building will undergo an historic renovation to convert to Graduate Palo Alto, part of the Graduate Hotels® collection, and open in 2020. Following the renovation, the hotel will offer 100 guestrooms, a lobby coffee shop, street level retail and the restoration of its original rooftop garden. AJ Capital selected LoanCore Capital to provide financing for the project.

Prominently situated in the center of Palo Alto’s downtown, the hotel is conveniently proximate to Stanford University’s educational, medical and research campuses and Stanford Stadium, and within walking distance to Palo Alto’s most popular restaurants, retailers, galleries and theaters. With many of the nation’s leading entrepreneurial, service and venture capital firms located in Palo Alto and Silicon Valley, as well as a diverse mix of lifestyle and recreational amenities in the area, Graduate Palo Alto will be an ideal location for business and leisure travelers alike.

Created for travelers who seek memory-making journeys, Graduate Hotels® are a well-curated, thoughtfully-crafted collection of hotels that reside in the most dynamic university-anchored cities across the country. Every property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that played host to the best days of our lives. There are currently 11 Graduate Hotels open and operating across the U.S. and an additional nine hotels under development and slated to open by 2020.

“We are incredibly proud to announce the acquisition of Palo Alto’s Hotel President, one of the first hotels built in Palo Alto,” says Ben Weprin, Founder and CEO of AJ Capital Partners. “The opportunity to restore an iconic and historical Palo Alto landmark back to its original intent is the exact type of project that defines our company’s mission.”

The building will undergo a comprehensive renovation, which will touch all guestrooms, corridors and the lobby, while still preserving its façade and interior historic elements in order to restore the hotel’s original luster.

For more information on Graduate Hotels®, please visit

About AJ Capital Partners

Adventurous Journeys Capital Partners, based in Chicago, is an accomplished team of hospitality and real estate investors whose innate passion is to create a one-of-a kind portfolio of timeless assets. The counter-culture investors acquire, design and develop transformative real estate throughout the United States. In fall 2014, AJ Capital Partners launched the Graduate Hotels® collection. AJ Capital Partners continues to grow its portfolio of lodging investments, firmly establishing the group as visionary leaders in the lifestyle-driven investment industry. For more information on AJ Capital Partners, please visit / 212.505.8200

Related News

AJ Capital Partners Acquires The Chancellor Hotel in Fayetteville, Arkansas to Be Renovated and Rebranded as a Graduate Hotel

AJ Capital Partners to Develop 194-Room Graduate Hotel in East Lansing Adjacent to Michigan State University

Graduate Hotels Opens 154-Room Graduate Seattle in Washington Led by General Manager Senada Hajric

AJ Capital Partners Acquires The Inn at USC in Columbia, South Carolina

AJ Capital Partners Acquires Atherton Hotel in State College, Pennsylvania, to Become a Graduate Hotel

AJ Capital Partners Appoints Two Key Executives to Graduate Hotels Acquisitions and Development Team

UConn, Graduate Hotels® to Enter Deal for Purchase of Nathan Hale Inn

AJ Capital Partners Acquires Maryland's Loews Annapolis Hotel for Conversion to Graduate Annapolis

AJ Capital Partners Breaks Ground on Graduate Nashville Set to Open Fall 2019

AJ Capital Partners Acquires Hilton Eugene With Renovation and Conversion to Graduate Eugene Planned

AJ Capital Partners and Cornell University Begin Construction for Graduate Roosevelt Island Hotel at Cornell Tech Campus

AJ Capital Partners Opens 304-Room Graduate Minneapolis Following Renovation and Rebranding

AJ Capital Partners Acquires Providence Biltmore Hotel; Plans Renovation and Conversion

Graduate Charlottesville Appoints Frank D. Paris III as Executive Chef

AJ Capital Partners Converting Ohio’s Former Bollinger Tower Into Graduate Columbus Set for Spring 2019 Opening

AJ Capital Partners Acquires Hotel Duncan in New Haven, Connecticut to Reopen in 2019 as Graduate New Haven

AJ Capital Partners Acquires Iowa City Sheraton to Be Relaunched as Graduate Iowa City by Summer 2018

AJ Capital Partners Acquires Sheraton Iowa City from Rockbridge

George Stowers Joins AJ Capital Partners as Senior Vice President of Development and Construction

Albert Rothman joins AJ Capital Partners as Senior Director of Food & Beverage

All News »

Please login or register to post a comment.