| McLean, Virginia � April 2, 2004 � The accelerated pace of hotel real
estate investor activity in the full-service sector is demonstrated
by Molinaro Koger�s announcement today that the firm closed the sale of
the Radisson Hotel, Charleston, South Carolina, on behalf of Airport Properties
Inc.
The 159-room, eight-story hotel was purchased by Raj Parikh of Parikh & Parikh Associates, a Maple Shade, New Jersey-based hotel owner/operator with a portfolio of 16 hotels on the eastern seaboard. �The Charleston purchase is Parikh & Parikh�s second Radisson acquisition in the past 60 days,� commented Jim Aylor, Vice President of Molinaro Koger, who structured the sale. �Located proximate to Charleston�s airport and new convention center and with 10,000 square feet of meeting space, the hotel is well-suited to the company�s business target parameters.� For further information about this transactions and current listings, please contact Molinaro Koger at 703.760.9600 or via 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, 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.
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. |
