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The Hilton Eugene hotel has been sold to Chicago-based A.J. Capital Partners, which announced plans to renovate the building and rebrand it as Graduate Eugene.

The 274-room hotel was built in 1982. It’s located in downtown Eugene at 66 E. Sixth Ave., adjacent to a 30,000-square-foot conference center and the Hult Center for the Performing Arts. The hotel also is not far from the University of Oregon campus.

Major renovations will begin to transform the hotel into Graduate Eugene 鈥� part of A.J. Capital Partners‘ Graduate Hotels brand. Renovations will include a 鈥渃omplete overhaul鈥� of all guest rooms, bathrooms, corridors and common areas, according to a news release.

The new owners will also expand the hotel’s food and beverage options, and open a lobby caf茅 and an indoor-outdoor beer garden.

Holliday Fenoglio Fowler arranged a $71 million loan to fund the acquisition and renovations. The HFF debt placement team representing the borrower consisted of managing directors Danny Kaufman and Casey Davidson, senior director Jeff Bucaro and associate Nicole Aguiar.