Bank documents reveal more about Kahler Hotel purchase - PostBulletin.com: Local Business

Bank documents reveal more about Kahler Hotel purchase

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Posted: Monday, March 18, 2013 5:00 pm

Loan documents filed with the U.S. Securities and Exchange Commission indicate that Javon Bea, a Wisconsin hospital executive who lives in Oronoco, is the driving force behind the $230 million purchase of four Rochester hotels, anchored by the Kahler Grand Hotel.

Bea, along with his wife Vita Bea, signed as "sponsors" to borrow $145 million from Deutsche Mortgage & Asset Receiving Corp., part of the German banking giant Deutsche Bank, to finance the deal to buy the hotels from Sunstone Hotel Investors, according to the documents, which are public information and available online. The deal, which was announced in February, also included the Textile Care Services laundry business.

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