[Deptheads] Re: Radisson Ownership Change Info

[Eric M. Aldrich I]

This corresponds with Joey leaving. Makes more sense now.

Eric

On 13 Dec 2007, at 1:01 PM, Mark K Hyman wrote:

> Sigh.   This is not especially welcome news.
>
> Mark.
>
> Robert Lionheart wrote:
>> From a CoStar article November 15, 2007
>>
>> The Harp Group, a Chicago-dased firm, purchased the 582-room LAX  
>> Radisson Hotel at 6225 W. Century Blvd. in Los Angeles from  
>> Pacifica Cos. for $93 million, or about $159,794 per room.
>>
>> Built in 1963 and renovated in 1996, the 472,000-square-foot LAX  
>> Radisson is on 7.37 acres. The new buyer plans to renovate the  
>> property even further.
>>
>> The 582-room hotel, centrally located within the Los Angeles  
>> International Airport, boasts approximately 42,000 square feet of  
>> meeting space and contains a 14,000-square-foot ballroom. In  
>> addition, the property includes four restaurants and bars, an  
>> outdoor pool and a mix of retail units.
>>
>> The building had an average occupancy rate of 83% in 2006. Average  
>> room rates are $90 per night. The transaction included 4 acres of  
>> excess land entitled for the development of a parking structure and  
>> or a Residence Inn by Marriott. It sold at an 8% cap rate, based on  
>> a mix of actual and pro forma data.
>>
>> John Strauss and James Stockdale of Jones Lang LaSalle Americas  
>> Inc. represented the seller. The buyer represented itself.
>>
>> Please refer to CoStar COMPS #1427716 for more information on this  
>> transaction.
>>
>> Be a better friend, newshound, and know-it-all with Yahoo! Mobile.  
>> Try it now.
>
> -- 
> Mark Hyman
> VP Administration
> XCOM Wireless, Inc.
> 2815 Junipero Ave #110
> Signal Hill, CA 90755
> (562) 981-0077 x11
> (562) 981-0089 fax

---
Eric M. Aldrich I
Apple Core Audio Engineering
Audio Codecs