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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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Cushman & Wakefield Sonnenblick Goldman Arranges
Sale of Sanibel Harbour Resort & Spa
Luxury resort sale signals continued strong demand
for upscale hotel properties nationwide
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Thursday, August 09, 2007
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New York, NY
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Cushman & Wakefield Sonnenblick Goldman has arranged the sale of the Sanibel Harbour Resort & Spa on behalf of Sanibel II Limited Partnership to Columbia Sussex. The deal represents the first hotel transaction for Cushman & Wakefield Sonnenblick Goldman since its formation in July 2007.
“This transaction is indicative of the continued strong nationwide demand for upscale hotels and resorts,” said Mark Gordon, executive vice president, principal and head of the U.S. Hotel Group for Cushman & Wakefield Sonnenblick Goldman. “The acquisition opportunity received significant demand from the international investment community.”
The Sanibel Harbour Resort & Spa is located on approximately 85 acres within the Punta Rassa peninsula, in Fort Myers, Fla. The property consists of 385 keys, and numerous luxury amenities including 45,000 square feet of meeting space, a 40,000-square-foot Spa and Fitness Center with 29 treatment rooms, five clay tennis courts, a basketball court, a 19-slip marina, a private beach area and seven food-and-beverage outlets including a yacht. The new owners plan to keep the property as an independent hotel.
Cushman & Wakefield Sonnenblick Goldman’s International Lodging & Leisure Group arranged approximately $1.5 billion of hotel transactions in the first half of 2007. Deals include arranging acquisition financings for the Paramount Hotel in N.Y., the Hotel Jerome in Aspen, Colo., the Marriott Crabtree in Raleigh, N.C., the Embassy Suites in Memphis, Tenn. and the Hilton Embassy Row in Washington, D.C.; the corporate recapitalization of the Denihan Hospitality Company and the sales of the Marriott in Austin, Texas, the LaGuardia Airport Marriott in N.Y., and the Montauk Yacht Club in Montauk, N.Y.
About Cushman & Wakefield Sonnenblick Goldman
The formation of Cushman & Wakefield Sonnenblick Goldman establishes the industry’s premier independent real estate investment banking firm. The firm was founded in 1893 to serve the financing needs of the real estate industry, and today provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services on a global basis. Further information can be found at the firm’s website at www.sonngold.com.
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About Cushman & Wakefield Sonnenblick Goldman
Cushman & Wakefield Sonnenblick Goldman is the industry’s leading independent real estate investment banking firm. The firm was founded as Sonnenblick Goldman in 1893 and it merged with Cushman & Wakefield in 2007. Cushman & Wakefield Sonnenblick Goldman provides a full range of real estate financial services, including debt and equity placements, joint ventures, hospitality investment sales and workout advisory services, and it collaborates world-wide with other divisions of Cushman & Wakefield. Further information can be found at the firm’s website at www.cushwake.com/sonngold.
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