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Article: Interstate Hotels & Resorts and Northridge Capital Form $400 Million Acquisition Fund; Interstate to Manage All Acquired Properties.
- Article from:
- Business Wire
- Article date:
- May 30, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Real Estate Writers
WASHINGTON--(BUSINESS WIRE)--May 30, 2003
Interstate Hotels & Resorts (NYSE:IHR), the nation's largest independent hotel management company, and Northridge Capital, Inc., today announced that they had formed a hospitality fund to acquire up to $400 million of hotel assets.
Washington, D.C.-based Northridge Capital is a private real estate investment company with a total current real estate portfolio valued in excess of $300 million. Interstate will operate all of the acquired properties.
The fund will target upscale, full-service and selected premium-branded, limited-service properties in key urban ...
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