AJ Capital Partners has announced its acquisition of the President Hotel Apartments in Palo Alto, California. Formerly the Hotel President, the six-story property in the heart of the city’s downtown area will be overhauled and rebranded as the Graduate Palo Alto when it reopens in 2020.
First constructed in 1929, the hotel is located in close proximity to Stanford University’s educational, medical, and research campuses. Upgrades will be made to the building’s interiors by AJ Capital’s internal team. The original façade and select historical elements will remain intact to express the structure’s original splendor. The revamped property will be home to 100 guestrooms as well as a lobby coffee shop, retail, and a restored rooftop garden.