Hotel Online  Special Report

 
Molinaro Koger Closes Holiday Inn East Columbus
on Behalf of B.F. Saul Company

 
McLean, Virginia – April 19, 2004  – A welcome balance between hotel real estate purchasers and sellers is indicated by Molinaro Koger’s announcement today that the firm closed the sale of the Holiday Inn East, Columbus, Ohio, on behalf of the Hotel Division of B.F. Saul Company. 

The 278-room, business class hotel was sold to Platinum Lodging LLC, a Columbus-based real estate company. Following the sale, DeSilva Properties will manage the Holiday Inn East Columbus. The full-service, 12-story hotel features newly renovated guestrooms, high-speed internet access, On Command television, Sony Play Station, and computer data ports.

“This transaction is notable due to the strong investor interest in this property which allowed us to rapidly achieve our client’s divestment goals,” said Terry O’Brien, Vice President of Molinaro Koger who structured the transaction. “Based on this and other recent sales which we have handled, I see a closing of the gap between sellers’ pricing expectations and buyers’ purchase requirements.”

For further information about this transactions and current listings, please contact Molinaro Koger at 703.760.9600 or at www.molinarokoger.com.

About Molinaro Koger

Molinaro Koger is an international hotel real estate brokerage firm. The company structures boutique through luxury hotel transactions throughout the Americas and Europe. Headquartered in metro-Washington, DC, with offices in Atlanta, Chicago, Cincinnati, Dallas and London, Molinaro Koger has captured the awards for Highest Volume, Largest Transaction and Salesman of the Year from Hotel Brokers International five times in the past decade.
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Joseph Molinaro founded the firm in 1959, and since then Molinaro Koger has successfully marketed hotel real estate, sponsored limited partnerships, and arranged financing for purchasers. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 45-year history. Throughout that time, the company has grown and assisted clients in achieving their investment goals.

“In each portion of the cycle we gather strength, expertise and contacts. We are able to serve our clients best interests regardless of economic highs or lows,” says President Robert Koger. “The results we achieve are directly attributable to the commitment and expertise of our professional staff.”

Molinaro Koger can be accessed online at www.molinarokoger.com.

About B.F. Saul Company Hotel Division

The Hotel Division of B.F. Saul Company is the hospitality subsidiary of the largest, private real estate and banking concern located in the Washington, DC area. Founded in 1892, the B. F. Saul Company has a proud tradition of consistent growth and financial strength. Utilizing time proven investment principles, quality operations, focused management and a true commitment to our team members, the organization has built a prosperous and positive history of success that spans over 110 years.

The Hotel Division operates a portfolio of business class hotels that are branded under franchise agreements with Intercontinental Hotels Group, Marriott International and Hilton. The properties are fully owned by the B. F. Saul organization and we employ a team of 1,400 enthusiastic hospitality professionals.

   
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Contact:

Molinaro Koger
1676 International Drive
Suite 575
McLean, VA 22102
703.760.9600
www.molinarokoger.com

Sharon Lemon
sharon@zestcommunications.com
 816.769.6604



 
Also See: Molinaro Koger Structures Sale of Radisson Hotel Charleston / April 2004
Molinaro Koger Closes 82 Transactions in 2003 / January 2004
Thompson Calhoun Fair and Molinaro Koger Brokers Sale of 15 - Hotel Portfolio / December 2003
Molinaro Koger Closes Sale of Renaissance Hotel St. Thomas to Palace Resorts of Cancun, Mexico / November 2003
Molinaro Koger Closes Four Full-Service Hotels / November 2003
Molinaro Koger Closes 46 Transactions Through Third Quarter 2003 / October 2003
Molinaro Koger Selected to Market 7-Property Holiday Inn Portfolio on Behalf of FelCor / May 2003
Simon Allison, Former Finance Director of Hospitality Europe BV, Named Vice President, Molinaro Koger / April 2003
Molinaro Koger Opens Atlanta Office / Oct 2002
Hotel Acquisitions Continue In Tight Market Molinaro Koger Announces 39 To Date Closings / Oct 2002
Molinaro Koger Opens Atlanta Office / Oct 2002


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