Insignia/ESG Hotel Partners, Inc. has confirmed the sale of the 196-room Radisson Inn in Greensboro, North Carolina.  The Radisson was sold by Lehman Brothers to Philadelphia-based G.F. Management for $8.05 million.  Robert Taylor of Insignia/ESG Hotel Partners represented the seller in this transaction. 

The mid-rise Radisson is located in a strong market off Interstate 40, five miles from Piedmont Triad International Airport.  The hotel was fully renovated and converted to a Radisson in 1996.

Insignia/ESG Hotel Partners, Inc. has confirmed the sale of the 120-room Comfort Inn in Revere, Mass.  IMPAC acquired the full-service hotel from Granite Manor LLC for $7.5 million, or $62,500 per room.  Jim O'Connell, managing director of the Boston office of Insignia/ESG Hotel Partners, represented the seller in this transaction and introduced the buyer to the project.

The property is located directly on Route 1 North, five miles north of Logan International Airport and five miles northeast of downtown Boston.

The new owner plans to add 40 guestrooms, reconfigure the common areas and convert the hotel to a Courtyard by Marriott.

Insignia/ESG Hotel Partners, Inc. has confirmed the sale of the 350-room Cincinnati Marriott Hotel in Sharonville, Ohio. The property, which was converted to a Radisson on the day of closing, was sold by a private partnership to American Property Management for $21 million.  American Property Management completed the transaction within 35 days of signing the letter of intent.  Insignia/ESG Hotel Partners senior managing director Ron Danko represented the seller in the transaction.

With 18,000 square feet of meeting space and other full-service amenities, the property is the only dedicated first-class convention hotel in the Sharonville market.  Sharonville, a highly-developed corporate suburban market, is approximately 20 miles north of downtown Cincinnati. Companies located in the area include General Electric, Ford Motor Company, Ethicon, Toyota, Mercantile and Proctor & Gamble.

Insignia/ESG is one of the largest commercial real estate services providers in the United States, with comprehensive brokerage, consulting, investment sales, property management and debt placement operations in many of America's top markets.  Insignia/ESG is a subsidiary of Insignia Financial Group, Inc., one of the largest fully integrated real estate services firms in the United States.  Insignia Financial Group is listed on the New York Stock Exchange under the symbol "IFS."