Rockbridge Announces Investment for Sarasota, Hyatt Place
SEPTEMBER 24, 2008. RockBridge Capital, LLC ("RockBridge") today announced the recent closing of a first mortgage investment for the development of a 114-room Hyatt Place in Sarasota, FL. James T. Merkel, Managing Director of RockBridge, made the announcement.
The Hyatt Place will benefit from its location directly across from the main entrance of the Sarasota International Airport and close proximity to major corporate demand centers and leisure destinations such as Sarasota's finest beaches and many cultural and arts facilities located nearby. The Hyatt Place will offer all-suite accommodations and in-room amenities such as the Hyatt Grand Bed, a living room w/ large sectional sofa and ottoman, work area integrated with a 42" plasma television, and complimentary high-speed internet access. Other property amenities include a self check-in kiosk, an inviting wine / espresso bar, complimentary continental breakfast, and the Guest Kitchen offering freshly prepared and made-to-order dining options.
The Sponsor is White's Lodging, located in Naples, Florida. White's Lodging was formed in 1999 by Tom and Ron White to develop, own and operate hotels. White's Lodging currently owns and operates the Hawthorn Suites in Naples, Florida. This transaction represents the first between RockBridge and White's Lodging.
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