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Article: Investcorp Real Estate Group Announces Transactions With The Procaccianti Group Totaling Approximately $450 Million.
- Article from:
- PR Newswire
- Article date:
- May 15, 2007
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-- Acquisition of Portfolio of Full-Service Hotels Reflects Increased Focus by Leading Real Estate Group on U.S. Property Sector; Approximately $500 Million in Hotel Purchases over Past Eight Months --
NEW YORK, May 15 /PRNewswire/ -- The Investcorp Real Estate group today announced the acquisition of a 96 stake in a series of assets within The Procaccianti Hotel Portfolio, a portfolio of full-service hotels located across the United States, in a joint venture with leading U.S. hotel operator The Procaccianti Group. The total transaction value is approximately $450 million.
The Procaccianti Hotel Portfolio consists of nine full-service hotels in ...