Sonnenblick Goldman's $237m vacation package.
Sonnenblick Goldman, serving as the exclusive advisor to Plant Hotel N.V., has arranged the sale of the ownership entity holding the leasehold interest in the 413-room Aruba Marriott Resort & Stellaris Casino for $237 million to the Caribbean Real Estate Opportunity Fund.
NIBC Bank
"Aruba is an ideal market for investment given its unique attributes which include great airlift, ideal weather, a stable political climate and labor pool, high barriers to entry and strong asset performance," commented Mark J. Gordon, managing director and principal of Sonnenblick Goldman and head of the firm's International Lodging & Leisure Group.
"Furthermore, the long term management contract with Marriott will ensure the resort's successful performance. These factors, in addition to a favorable interest from the lenders to finance the acquisition resulted in strong interest from the international investment community."
Aruba, a bustling resort destination known for its pristine white sand beaches, championship golf courses and pleasant tropical climate, is home to approximately 100,000 residents. With tourism as its key industry, the island of Aruba hosted 732,400 visitors in 2005 alone.
According to Travel + Leisure Magazine, Aruba is the sixth most popular island resort location in the world.
Mark Owens, a vice president at Sonnenblick Goldman added, "Aruba's market dynamics combined with the contemplated renovation strategy the buyer intends to pursue will make the Aruba Marriott one of the Caribbean's leading vacation destinations."
In addition, make sure to read these articles:
- With Custom-Designed Program Aruba WelcomesHoneymooners; ONE COOL HONEYMOON.
- Aruba's ``One Cool Honeymoon'' ExpandsOffer; Now Newlyweds Enjoy Perks All Year Long.
- Aruba's Hotels Celebrate 48th Annual Carnival With Special Packages.
- Bankers arrange $50m hotel sale.
- US$237 million sale of Marriott Resort.
- Sonnenblick Goldman.
- Sonnenblick Goldman.
- Firm gets happy ending.
- Three hotels recapitalized in $475m one-time deal.
- Sonnenblick-Goldman report: lodging market strong in 1Q 2002.
- Cushman & Wakefield Sonnenblick Goldman.
- Sonnenblick Goldman.
- Sonnenblick-Goldman completes $90m in hotel and mall deals.
- Sonnenblick closes city's biggest hotel deal this year.
- SG arranges $208m loan.
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