Hotel Online  Special Report

 
Molinaro Koger Structures Sale of
Renaissance Hotel Ft. Lauderdale

 
McLean, Virginia – September 14, 2004 – Molinaro Koger announced today that the firm has structured the sale of the Renaissance Ft. Lauderdale-Plantation Hotel, on behalf of LNR Property Corp., to HEI Hospitality.

"We continue to seek to acquire upscale hotels and resorts in major markets and resort destinations," said Roger Clark, HEI Senior Vice President. "We have the flexibility and financial strength to structure unique transactions for both individual hotels and portfolios." 

Built in 2002, the 250-room hotel overlooks an artificial lake and is adjacent to a 36-hole golf course. Located off Interstate 595, four miles from the beaches, the hotel escaped the havoc wrecked by Hurricanes Charley and Frances. The property features an atrium lobby, a freeform pool, a fitness center, 24-hour business center and significant meeting space.

“Our marketing of the Renaissance generated significant investors’ interest and competitive bidding,” said Rob Koger President of Molinaro Koger. “HEI was successful in obtaining the asset because they were able to quickly evaluate the opportunity and meet the seller’s needs.”

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

About LNR Property Corporation
LNR Property Corporation, with over $3 billion of assets, is a leading real estate investment, finance and management company. LNR maintains the highest special servicing ratings issued by Fitch and Standard & Poor’s, and is responsible for special servicing 141 CMBS investment pools representing over $134 billion of original principal balance and approximately 16,700 loans located across the U.S. and in Europe.

About HEI Hospitality
HEI Hospitality, headquartered in Norwalk, Conn., is an ownership/investment firm that owns and/or operates 22 first-class and full-service hotels throughout the United States under such well-known brand names as Marriott, Sheraton, Westin and Hilton. Merritt Hospitality is an independent hotel management company and a wholly-owned subsidiary of HEI Hospitality. 

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, Los Angeles, and London, Molinaro Koger has captured the awards for Highest Volume, Largest Transaction and Salesman of the Year 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

###
Contact:

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

Sharon Lemon
sharon@zestcommunications.com
651.324.8469


 
Also See: Molinaro Koger Structures Sale of Radission Hotel Mt. Laurel on behalf of Boykin Lodging Company / September 2004
Molinaro Koger Advises William Street Hotel Associates LLC on Sale of Doubletree Hotel Chicago O’Hare Airport / August 2004
Molinaro Koger Advises on the Sale of the Beaver Creek Lodge / August 2004
Molinaro Koger Arranges Sale of Crystal City Marriott Hotel / July 2004
Molinaro Koger Facilitates Sale of Sheraton Bucks County Hotel to Ashford Hospitality Trust / July 2004
Molinaro Koger Structures Sale of Sheraton Hotel Washington, DC / June 2004
Molinaro Koger Advises in the Sale of Miami Beach Ritz Plaza Hotel — Kimpton to Rebrand and Manage / June 2004
Molinaro Koger Structures Sale of Hilton Hotel Pasadena, California / May 2004
Molinaro Koger Closes Holiday Inn East Columbus on Behalf of B.F. Saul Company / April 2004
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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