ACORE Capital Mortgage, LP, acting as administrative agent for lenders under certain mezzanine loan agreements, has announced a public auction for the sale of collateral associated with four Delaware limited liability companies linked to real estate assets in Cincinnati, Ohio, and Providence, Rhode Island. The auction is scheduled to take place at 1:30 p.m. Eastern Time on January 20, 2027, at the New York Supreme Court in New York County. Qualified bidders will have the option to participate either in person or virtually via videoconference.
The collateral offered includes all limited liability company interests held by AJ GCOH MEZZ LLC, AJ GCOH TRS MEZZ LLC, AJ PROVIDENCE MEZZ LLC, and AJ PROVIDENCE TRS MEZZ LLC, which collectively own interests in entities holding leasehold and fee interests in two hotel properties branded as Graduate by Hilton. Specifically, GCOH Owner LLC holds the ground leasehold interest and GCOH Lessee LLC holds the subleasehold interest in the Cincinnati property located at 151 Goodman Street. Meanwhile, Biltmore Providence Owner LLC holds the fee interest and Biltmore Providence Lessee LLC holds the leasehold interest in the Providence property at 11 Dorrance Street.
The Cincinnati property is secured by a first priority mortgage loan with an original principal amount of approximately $26.2 million and an unpaid balance near $22 million as of September 1, 2026. The Providence property is similarly encumbered by a first priority mortgage loan originally amounting to approximately $43.2 million, with an outstanding balance of about $36.3 million as of the same date.
The sale will first be offered in two separate lots—one consisting of collateral tied to the Cincinnati hotel and the other the Providence hotel—before potentially being offered as a combined lot. The secured party will accept the highest aggregate bid option. All sales will be conducted on an “as is, where is” basis without warranties or representations.
Prospective bidders must satisfy several conditions, including submitting a written Bidding Certificate attesting to their status as accredited investors and confirming acquisition intentions for investment purposes only, consistent with securities regulations. Additional requirements include demonstrating financial capability to complete the purchase, compliance with leasing agreements (notably the ground lease for the Cincinnati property involving the University of Cincinnati), and timely submission of a change of ownership transfer application to Hilton Franchise Holding LLC for hotel operations.
Interested parties are required to register in advance with Cushman & Wakefield U.S., Inc., submit necessary documentation, and provide an initial deposit of $25,000 at least two business days before the auction. The secured party reserves the right to accept or reject any bid and may also participate in the auction.
Detailed terms of sale, relevant agreements, and additional information are available through Cushman & Wakefield U.S., Inc., with contacts provided for inquiries and a dedicated online portal hosting further documentation.