News for the Hospitality Executive |
for Radisson Hotel Research Triangle Park July 24, 2008 - Ackman-Ziff has arranged fixed-rate first mortgage financing for the Radisson Hotel Research Triangle Park, located in Durham, North Carolina. The financing was provided by an international capital source. The 198-room, full-service property was acquired in 2006 by a leading global real estate investor and fund manager with approximately $11 billion in equity commitments. The Company�s aggressive asset management and the skilled management team increased NOI by more than 13% within a year of acquisition. Additionally, the hotel is the only lodging property within Research Triangle Park, one of the country�s most prestigious high-tech research and development centers, a barrier to entry that further enhanced the overall appeal of the asset. About The Ackman-Ziff Real Estate Group
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Contact:
The Ackman-Ziff Real Estate Group, LLC
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Also See: | Svetlin Ganchev, Mark Owens and Linda Yang Join Ackman-Ziff; Will Focus on Debt Placements and Equity Joint Ventures within the Hospitality Group / June 2007 |
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