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Kane joins New York group to buy North Raleigh Hilton for $42 million

MAY 4, 2016

Kane Realty Corp. has stretched out of its traditional zone of building new hotel developments in Raleigh to buying one of the largest existing hotel properties in Raleigh.

Kane Realty, as part of an equity partnership with New York-based Fortress Investment Group (NYSE: FIG), has acquired for nearly $42 million the 333-room Hilton North Raleigh/Midtown hotel and conference center, known locally as the North Raleigh HIlton, on Wake Forest Road.

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