FelCor Lodging Trust Incorporated has sold the property as part of its long-term portfolio repositioning strategy. ASAP International Holdings also arranged CMBS senior debt from Morgan Stanley as part of the purchase.
Taylor Woods, President of Urban Commons, LLC stated, "We are pleased to be able to close on another hospitality acquisition with the support of ASAP International and to continue to build our portfolio of trophy properties."
ASAP is a holding company that operates real estate, investment banking and consulting for Chinese companies. Our mission is to be the bridge between China and the Western world. Our Real Estate division assists with institutional and high net worth individuals with acquisition advisory and asset management.
Urban Commons, a Los Angeles based real estate investment firm, specializes in hospitality and residential income generating assets. Urban Commons targets income property acquisitions in highly populated, predictable markets.
For a complete copy of the company’s news release, please contact:
:
Jerome Yuan
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