GLOBAL HOTEL MARKET ROUNDUP - Real Estate Channel Global News Center

In Chapter 11 since May 2008, the 24-year-old, 341-room Sheraton Orlando Downtown has been sold in the benefit of an undisclosed usefulness. Georgi Zaczac, title-holder of Orlando-based CF Hospitality Inc., sold the 15-story realty to a communal offer comprised of affiliates of Glenmont Capital Management LLC and Resolution Services LLC, both based in New York City. Zaczac placed Sheraton Orlando North and a sister realty in Miami below Bankruptcy Court barrier after CF Hospitality owed a overall $90 million in loans on both assets, according to court documents. The Orlando realty recently completed a $10 million renovation.

Besides the mortgage duty, the reckon also owed creditors yon $250,000 in the benefit of other services. The uncommon owners judge they down to instal another $4 million in needed improvements. Ivanhoe Blvd. The motel opened in June 1985 as the Radisson Plaza Hotel Orlando at 60 S. (BERLIN, GERMANY) — Twenty years after the Berlin Wall came down, the borough is enjoying a resuscitation in uncommon small-sized motel full growth.

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