Wednesday, December 26, 2012

HFF closes sale of The Ritz-Carlton Lake Tahoe in California



The Ritz-Carlton Lake Tahoe, Truckee, CA 
TAMPA, FL and SAN FRANCISCO, CA – HFF announced today that it has closed the sale of The Ritz-Carlton, Lake Tahoe, a 170-room luxury resort in Truckee, California.

                HFF marketed the property on behalf of the seller, Truckee Highlands Syndicated Holdings, LLC.  International real estate investment and services company Kennedy Wilson purchased the property free and clear of existing debt.

 The Ritz-Carlton, Lake Tahoe is a AAA Five Diamond resort situated mid-mountain at Northstar California providing ski-in/ski-out access. 

Completed in 2009, the hotel features three dining options including Manzanita, the resort’s signature restaurant by James Beard award-winning chef, Traci Des Jardins. 

Other amenities include the 17,000-square-foot Ritz-Carlton Spa, more than 15,000 square feet of indoor meeting space, two heated outdoor pools, state-of-the-art fitness center and business center. 

Holden Lim
The transaction also included 23 unsold condominium units, ranging between 1,500 and 3,500 square feet, and an adjacent 3.4-acre development parcel.  

                The HFF investment sales team representing the seller was led by senior managing director Dan Peek and managing director Holden Lim along with senior managing directors Michael Leggett and Gerry Rohm, director Max Comess and real estate analyst Cyrus Vazifdar.

Michael Leggett
 “The Ritz-Carlton, Lake Tahoe is one of the most spectacular ski resort hotels in the country, offering a truly unique mid-mountain ski-in/ski-out experience,” commented Peek.

 “Beyond the ski season, it benefits from a beautiful setting for year-round vacationing and meetings in the world-renowned Lake Tahoe area.  We were pleased to represent the seller in the sale of this iconic asset, and believe the Kennedy Wilson team has acquired an asset with tremendous future potential.”

Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |


No comments:

Post a Comment