The company renovating the former Savoy Hotel in downtown Kansas City has purchased the stake of Savoy Acquisition Co. LLC in the hotel at 205 W. Ninth St.
The purchase by 21c Museum Hotels of Savoy Acquisition’s interests also completed 21c’s refinancing plan with Junius Real Estate Partners.
The transaction was announced by Whitney E. Kerr Sr., with Cushman & Wakefield, who represented Savoy Acquisition. In the deal, Eric Holtze, managing member of Savoy Acquisition, received cash and conveyance of the parking lot adjacent to the hotel.
A complete remodeling of the historic hotel has begun, with McCownGordon as contractor.
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