Hotel Online  Special Report

 
Sale of Sheraton Hotel Oklahoma City
Arranged by Molinaro Koger 

 
Phoenix, Arizona – April 30, 2007 – Molinaro Koger (MK), announced today that the firm marketed and structured the sale of the Sheraton Hotel Oklahoma City to American Property Management Corporation (APMC) on behalf of an affiliate of Blackstone Real Estate Acquisitions V LLC.  Following the sale, the 395-room upscale hotel will retain the Sheraton brand and undergo a $3.8 million renovation to public spaces. 

“Set in Oklahoma City’s famed Bricktown area, the Sheraton OKC is one of the city’s premier destinations as a result of its combined services, facilities and irreplaceable location connected to the city’s convention center,” commented Bill Murney, Managing Director of MK’s Phoenix office, who marketed the property and arranged the sale. 

“I’m pleased our ability to identify and communicate this asset’s unique attributes and value facilitated strong interest from an array of investors. Strong investor interest naturally benefited our client which is always our goal when marketing an asset,” concluded Mr. Murney.

The 15-story hotel places guests in the center of the Oklahoma City entertainment district that includes the 20,000 seat Ford center, home to the NBA Hornets’ 2006-2007 season, the newly renovated 200,000 square foot convention center, as well as proximity to the city’s canal water taxi and Bricktown Ballpark. The hotel’s completely renovated guest rooms feature the Sheraton Sweet Sleeper Bed, Executive Club Level accommodations, full-service business and fitness centers, and 27,000 square feet of meeting space.

During the last 12 months MK has structured more than $3 billion in hotel real estate worldwide. For further information about this transaction and current hotel property offerings, please contact MK at 703.760.9600 or via www.mkhotels.com.

About American Property Management Company

Based in San Diego, APMC was ranked as the 8th largest hotel management company in the April 2006 issue of Hotel Business magazine and the 5th largest independent third-party hotel management company in the June 2006 issue of Hotel and Motel Management magazine. With a portfolio value of more than $1.6 billion, APMC currently owns and operates 45 lodging properties encompassing over 13,500 rooms and employs over 5,500 personnel throughout the United States. 

.

.
About Molinaro Koger

Founded in 1959, Molinaro Koger (MK) is the world’s leading hotel-exclusive real estate brokerage, advisory and capital markets firm. MK provides clients with unparalleled service and commitment. During the past four decades the company has closed more than $15 billion in hotel property sales. Headquartered in Washington, DC, MK’s offices are located in Atlanta, Chicago, Cincinnati, Dallas, Los Angeles, Phoenix, San Francisco, London, Beijing, and Shanghai. 

MK structures the transactions of luxury hotels and resorts, and urban and mid-scale properties throughout the Americas, Europe, and the Far East.  In the last 12 months MK has completed more than $3 billion in hotel transactions.  The firm closes, on average, more than 75 hotel property sales each year.  MK employs 20 hospitality advisor professionals and 40 support staff in administration, marketing, finance, technology and operations.  Each member of the MK team possesses a unique perspective and invaluable insight. Together they have leading-edge expertise in every aspect of the hospitality business.  The tremendous pool of talent among MK’s professionals makes for a powerful, results-driven sales team.  MK can be accessed online at www.mkhotels.com.

###
Contact:

Sharon Lemon
slemon@mkhotels.com
1.970.769.0510


 
Also See: Molinaro Koger Structures Sale of DoubleTree Hotel Tucson at Reid Park / April 2007
MK Capital Markets Welcomes Equity Specialist Bracken White / April 2007
Molinaro Koger Advises Hotelinvest Kalvebod A/S on Sale of Copenhagen Marriott Hotel / February 2007
Beej Das Joins Molinaro Koger as Managing Director, India / January 2007
Molinaro Koger Structures $169 Million Sale of Summerfield Suites Portfolio to Hersha Hospitality Trust on behalf of LodgeWorks / January 2007
MK Structures Disposition of Three Select Service Hotels in Metro-Birmingham, Alabama / December 2006
MK Capital Markets Secures Financing for Two Park City Hotels on Behalf of Navnish Development, LLC / September 2006
Molinaro Koger Structures Sale of Two Tempe, Arizona, Hotel Properties / September 2006
Molinaro Koger Structures Disposition of Westin Kierland Resort & Spa to Host Hotels & Resorts for $393 Million / September 2006
Sheraton Hotel Krakow, Poland Sold to Quinn Group for 45 Million in Transaction Structured by Molinaro Koger / August 2006
Molinaro Koger Welcomes Industry Veteran David Altobello as Vice President / August 2006
Molinaro Koger Structures Shamrock-Hostmark Acquisition of Radisson Hotel Princeton, New Jersey / May 2006
Molinaro Koger Structures Sale of Fairfield Inn, Scottsdale / April 2006
Molinaro Koger Advises on £150 Million Great Eastern Hotel Transaction / March 2006
Cincinnati Office of Molinaro Koger Sells Holiday Inn Cincinnati North / February 2006
Molinaro Koger Announces Record $2.2 Billion in Hotel Transactions in 2005 / January 2006
Sale of Chicago’s Omni Ambassador East Hotel Arranged by Molinaro Koger / December 2005
Hotel Monticello of Georgetown, A European-style Luxury, Boutique Hotel, Sold by Molinaro Koger / June 2005
Molinaro Koger Structures Sale of Sierra Suites® Portfolio / May 2005
Molinaro Koger Structures Sale of Hilton Deerfield Beach Florida / April 2005
Molinaro Koger Structures Sale of Two Residence Inns Portland, Oregon / February 2005
Molinaro Koger Structures Sale of Lenox Suites Hotel Chicago / February 2005
Molinaro Koger Structures Sale of Hilton College Station & Conference Center / January 2005
The Outstanding Year that Was: MK Records $1.3 Billion in Hotel Real Estate Transactions in 2004 / January 2005
Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda / December 2004
Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort / December 2004
Hospitality Financier Edward Blum Joins Molinaro Koger / December 2004
FelCor Sells North Dallas Crowne Plaza Hotel, Advised by Molinaro Koger / October 2004
Bill Murney Joins Molinaro Koger, Opens Firm’s Phoenix Office as Managing Director / October 2004
Molinaro Koger Advises FelCor on the Sale of the Harvey Hotel DFW / October 2004
Molinaro Koger Structures Sale of Hyatt Hotel Orange County / October 2004
Molinaro Koger Structures Sale of Renaissance Hotel Ft. Lauderdale / September 2004
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


To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.