Wednesday, September 2, 2009

Ramada Property to be Moldova’s First Internationally Branded Hotel

PARSIPPANY, N.J. (Sept. 2, 2009) – Ramada Worldwide, one of the world’s leading international hotel chain’s with nearly 900 locations around the globe, today announced that the 140-room Ramada Chisinau City Center (top left photo) property in the Republic of Moldova will be the country’s first internationally branded hotel.

Formerly the Hotel Codru, the seven-story, four-star hotel is owned by US-based Investment Development Group, a privately held investment firm specializing in commercial and residential real estate in Eastern Europe.

The property will undergo a multi-million dollar renovation before re-opening as a Ramada hotel in the third quarter of 2010.

“Eastern Europe represents a great opportunity for Wyndham Hotel Group as there is a growing need for quality, value-rich hotels that provide a consistent and familiar guest experience,” said Martin Armitstead, Wyndham Hotel Group senior vice president of development for the Europe, Middle East and Africa region.

“Branded properties like the Ramada Chisinau City Center hotel not only allow Wyndham Hotel Group to cater to those needs but further establish the company as the consumers’ global lodging provider of choice.”

CONTACT: Christine Da SilvaDirector. 973-753-6590,

Plaza Advisors Announces Shopping Center Sale

TAMPA, FL--Plaza Advisors is pleased to announce the recent sale of the Plaza 66 shopping center (top left map) located in Kenneth City (Tampa Bay MSA), Florida.

This center totals 95,320 square feet (SF) of gross leasable area and features a 55,230 SF Sweetbay Supermarket, which completed a substantial store renovation in September 2006.

The property was 91% occupied at the time of sale and included several additional recognizable tenants such as Family Dollar, Cici’s Pizza, Rent a Center, Fantastic Sam’s, and Jackson Hewitt Tax Service.

Plaza Advisors represented the seller in the transaction and co-managing partners Jim Michalak and Anthony Blanco, together with Senior Financial Analyst, Lenard Williams were involved in the engagement.

The seller and buyer were Centro Properties Group and Plaza 66 LLC, respectively.

The sale of Plaza 66 is the sixth investment sale transaction for Plaza Advisors in 2009. Earlier this year, Plaza Advisors sold Plant City Crossing and Regency Village, Publix-anchored centers located in central Florida, The Village Shopping Center, a Publix and Bealls Outlet anchored center in Orange Park, Belleair Bazaar, a Bonefish Grill-anchored center in the Clearwater area, and Palafox Square, a WalMart Supercenter and Office Depot shadow anchored center located in Pensacola, FL


Jim Michalak, office 813-837-1300, fax 813-831-2627,

Anthony Blanco, office 305-629-3606, fax 305-647-6441,