Ackman-Ziff Group Arranges Financing for Radisson, Research Triangle Park
JULY 24, 2008. Ackman-Ziff has arranged fixed-rate first mortgage financing for the Radisson Hotel Research Triangle Park, located in Durham, North Carolina. The financing was provided by an international capital source.
The 198-room, full-service property was acquired in 2006 by a leading global real estate investor and fund manager with approximately $11 billion in equity commitments. The Company's aggressive asset management and the skilled management team increased NOI by more than 13% within a year of acquisition. Additionally, the hotel is the only lodging property within Research Triangle Park, one of the country's most prestigious high-tech research and development centers, a barrier to entry that further enhanced the overall appeal of the asset.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
