N.A.T. Hospitality Group: Is pleased to announce the successful sale of the Universal Sheraton Hotel Los Angeles, California (United States)
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N.A.T. Hospitality Group: Is pleased to announce the successful sale of the Universal Sheraton Hotel Los Angeles, California (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy -
Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2011-01-07
N.A.T. Hospitality Group: Is pleased to announce the successful sale of the Universal Sheraton Hotel Los Angeles, California.
Craig Sullivan, Vice President Hospitality Group for North American Title Company is pleased to announce his firm’s involvement with the sale of the Universal Sheraton Hotel Los Angeles, CA.
This twenty-story, 451 room hotel in excellent condition transformed by a recent $30 million renovation, the Sheraton Universal Hotel is ready to give you a warm, red carpet welcome. Known as the “Hotel of the Stars" this landmark hotel unveils an artistic wonder that blends four-star service with nostalgic design elements from the golden age of film: the 1920's through the 1940's. Guests will revel in the newly renovated rooms and amenities while they enjoy daily service rituals that will reassure them of their star status. North American Title Company’s Hospitality Group is proud to have been a part of this transaction for title and settlement services. We congratulate Shenzhen New World Group Co., Ltd; the new owner, John Strauss, Managing Director Jones Lang LaSalle Hotels and his team who brokered this transaction. Guy Maisnik and the entire Hospitality Group at JMBM, Karl Lott of Holland & Knight, Paul Yuen at Wing Lung Bank, Ltd. Jo Anne Erro settlement services along with Mike Heil and Trish Hines and Brent Diamond handling the title services at North American Title Company.
About North American Title Company – We are a full service transactions title company based in Irvine, CA. Within our offices are the Hospitality Group, Commercial Title and Escrow Services, New Communities and DRE Division, Trustee Sales Guarantee Group, Customer Service and our Residential Title and Escrow Services. We have a focused experience in hospitality real estate and the ability to close your transaction on time with 16 billion dollars worth of hospitality closings. We also launched our Distressed Hospitality Asset Program or “DHAP”. Bringing together the expertise and resources you need to help you with a distressed hospitality asset.
The Hospitality Group at North American Title Company maintains solid relationships with the industry’s most active capital sources, brokers, owner/operators and attorneys as well as other real estate professionals and advisors.
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network. In 2008, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on over $3.7 billion worth of transactions globally relating to more than 120 assets. In addition, advisory and valuation services were provided on more than 600 assignments. The global team comprises over 220 hotel specialists, operating from 32 offices in 19 countries. The firm’s advice is supported by a dedicated global research team, which produced 87 publications in 2008 in addition to client research. Jones Lang LaSalle Hotels’ services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels’ clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL).
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