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Article: Prudential Real Estate Investors Acquires Three Hotel Monaco Properties.
- Article from:
- Business Wire
- Article date:
- March 17, 2005
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Copyright informationCOPYRIGHT 2005 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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PARSIPPANY, N.J. -- Prudential Real Estate Investors (PREI) announced today that it has acquired three Hotel Monaco properties from the Kimpton Development Opportunity Fund on behalf of investors in its oldest open-end commingled fund. PREI is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE: PRU).
The hotels include the 189-room Hotel Monaco in Denver, Colo., the 192-room Hotel Monaco in Chicago, and the 225-room Hotel Monaco in Salt Lake City, Utah. Kimpton will continue to manage all three hotels. Terms of the sale were not disclosed. The sale was arranged by Jones Lang LaSalle Hotels on behalf of Kimpton.
"These are among the top ...
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