Jones Lang LaSalle Closes on Radisson Fort Worth
FORT WORTH, TX, January 2, 2007. Jones Lang LaSalle Hotels Select Service Division announced today that they advised Allegiance Hospitality Corporation in the disposition of the Radisson Fort Worth North Hotel in Fort Worth, Texas. The hotel was sold to Tog Enterprises, headed by Terry Tognazzini. The Radisson Fort Worth North is comprised of one, six-story interior corridor building consisting of 247 guest rooms. The hotel was built in 1986 as a Holiday Inn, and in April 2006, was converted to a Radisson after an approximately $5 million renovation. The hotel provides an indoor swimming pool, fitness center, gift shop, restaurant and lounge, business center, guest laundry facility and approximately 11,000 square feet of flexible meeting space.
"We were delighted to achieve a relatively quick disposition of this asset at a very favorable price for our client," said Monty Levy, senior vice president for Jones Lang LaSalle Hotels Select Service Division.
"The property represents a good opportunity for the buyer to expand its holdings in Texas," said Ros Mallory, vice president for Jones Lang LaSalle Hotels Select Service Division.
According to Jason Clouet, president of Allegiance Hospitality Corporation, "Monty, Ros and the entire Jones Lang LaSalle Hotels team provided us with excellent advice and representation in the sale of this hotel, and were critical in helping us achieve our goal in this disposition."
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