Hotel Arranged by Molinaro Koger
McLean, VA – December 22, 2005 – Molinaro Koger announced today that the firm acted as advisor to Omni Hotels in the sale of the Omni Ambassador East Hotel to FHM Ambassador East, LLC, a joint venture of the Fordham Company, The Harp Group and Mid-America Development Partners.
The four-diamond hotel, together with its award winning Pump Room Restaurant, is located in the exclusive Gold Coast neighborhood of Chicago adjoining North Michigan Avenue and the fashionable River North district.
“Investors were attracted to the quality of the real estate given its Gold Coast location,” commented Bill Stadler of Molinaro Koger.
“Furthermore, investors recognized the potential opportunity for an upscale condo-hotel structure,” added Mark Rome of Molinaro Koger.
Molinaro Koger’s other notable transactions in greater Chicago during 2005 include the Westin O’Hare, DoubleTree Guest Suites – North Michigan Avenue, Marriott Schaumburg and The Lenox Suites Hotel.
For further information about this transaction and current listings, please contact Molinaro Koger at 703.760.9600 or via www.mkhotels.com.
About Molinaro Koger
Molinaro Koger (MK) is an international hotel real estate brokerage, advisory and capital markets firm. The company structures hotel transactions of boutique through luxury market segment assets throughout the world. MK is headquartered in metro-Washington, DC, and has offices in London, Atlanta, Beijing, Chicago, Cincinnati, Dallas, Los Angeles, Phoenix, San Francisco and Shanghai.
Founded in 1959, Molinaro Koger successfully markets hotel real estate, sponsors limited partnerships, and arranges financing for clients. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 47-year history. Through this time, the company has grown and assisted clients in achieving their investment goals.
“With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve the best interests of our clients, regardless of economic cycles,” 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.mkhotels.com.
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