Sale of Chicago's Omni Ambassador East Hotel Arranged by Molinaro Koger
MCLEAN, VA, December 22, 2005. Molinaro Koger announced today that the firm acted as advisor to Omni Hotels in the sale of the Omni Ambassador East Hotel to FHM Ambassador East, LLC, a joint venture of the Fordham Company, The Harp Group and Mid-America Development Partners.
The four-diamond hotel, together with its award winning Pump Room Restaurant, is located in the exclusive Gold Coast neighborhood of Chicago adjoining North Michigan Avenue and the fashionable River North district.
"Investors were attracted to the quality of the real estate given its Gold Coast location," commented Bill Stadler of Molinaro Koger.
"Furthermore, investors recognized the potential opportunity for an upscale condo-hotel structure," added Mark Rome of Molinaro Koger.
Molinaro Koger's other notable transactions in greater Chicago during 2005 include the Westin O'Hare, DoubleTree Guest Suites - North Michigan Avenue, Marriott Schaumburg and The Lenox Suites Hotel.
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