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Press ReleaseREH Capital Partners, LLC ______________________________________________________________________ News June 3, 2005 FOR FURTHER INFORMATION AT THE FIRM:
FOR IMMEDIATE RELEASE REH Assists in Completion of JV Sale of Sheraton Yankee Clipper and Yankee Trader Hotels in Fort Lauderdale June 3, 2005 Fort Lauderdale, Florida (June 3, 2005) – In what may be one of Fort Lauderdale's largest ever hospitality transactions, REH Capital Partners served as advisors to the Gill family of Fort Lauderdale in arranging and facilitating a transaction with Starwood Capital for the JV sale, recapitalization, and repositioning of the famous Sheraton Yankee Clipper and Sheraton Yankee Trader beachfront hotels in Fort Lauderdale, Florida, totaling some 950 hotel rooms. According to Frank Nardozza, Chairman of REH, “this transaction provides further evidence of the strong national interest amongst prominent real estate investors towards investment and rejuvenation of Fort Lauderdale beachfront hotel properties.” He added, “the time is now right for repositioning of these hotels while the lodging industry remains strong and approaching a full recovery from the downturn that followed the catastrophic events of September 11, 2001.”
*********** REH Capital Partners, LLC is a national real estate and hospitality investment and advisory services firm headquartered in Fort Lauderdale, Florida with regional offices in Los Angeles, California and Washington D.C. The Firm makes investments directly and on behalf of clients in real estate and hospitality assets and portfolio companies as well as provides strategic investment advice, transactional services, asset management services, and strategic consulting services to a wide range of public and private sector clients.
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