Transaction of the Year Award
The Plasencia Group’s handling of the Amelia Island Plantation bankruptcy sale on behalf
of the property’s owner garnered honors as the Single-Asset Transaction of the Year for 2010
|
News for the Hospitality Executive |
| Tampa, Fla.- February 1, 2011 – The Plasencia
Group (TPG) was honored with the
2010 Single Asset Transaction of the Year award at the Americas Lodging
Investment Summit for its handling of the sale of the 249-room Amelia
Island
Plantation to TRT Holdings/Omni Hotels & Resorts in late
2010. The
announcement was made during the conference’s luncheon on January 25 at
the
Hilton San Diego Bayfront. TPG’s chairman and chief
executive
officer Lou Plasencia accepted the award. The Plasencia Group is
a
national investment advisory and consulting firm that specializes
exclusively
in the hospitality industry. Amelia Island Company, owners of the independent resort since its opening 30 years ago, retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code. During the process, the firm generated over 90 bona fide inquiries and conducted nearly 30 formal property inspections by pre-qualified investors. Following a standing-room only bankruptcy auction in which Starwood Capital and Noble Investment Group also vied for the storied north Florida beach resort, TRT/Omni prevailed with a bid of $67.1 million ($269,478 per room). “We are truly humbled to have been recognized by our peers in this way for the work we did on Amelia Island,” commented Plasencia. “Getting to a successful outcome – for our client, for the creditors, and for the residents of the Plantation – is extremely gratifying. We are very proud of everyone on the team who worked so diligently through this extraordinarily complex and challenging assignment. It’s a proud day for the TPG family.” Amelia Island Plantation, located just 29 miles north of Jacksonville International Airport, is a 1,350-acre property that overlooks the Atlantic Ocean on the east and the Intracoastal Waterway on the west. The sale included two golf courses, a tennis center, spa, 50,000 square feet of meeting space, and 45,000 square feet of commercial retail space plus 3.5 miles of beach and entitlements for future development. About The Plasencia Group, Inc. Founded in 1993, The Plasencia Group provides hospitality investment sales, consulting, and advisory services throughout the United States, Canada and the Caribbean. The Plasencia Group offers personalized lodging-related investment sales opportunities, asset disposition, and advisory services to life insurance companies, banks and pension funds, and private owners of hotels, resorts, and golf courses. With offices across the country, TPG offers a full range of value-added solutions, including single asset and portfolio dispositions, strategic portfolio analysis, asset and loan monitoring, note sales, operations benchmarking, operator and brand negotiations, hotel development consulting, asset management, and debt and equity placement. |
| Contact:
Karen
Brand Vice President of Marketing & Communications The Plasencia Group, Inc. [email protected] |