Gemini leads investors in East Village hotel buy.Gemini Real Estate Advisors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has announced the acquisition of a Howard Johnson Hotel in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York. Situated at the corner of Houston and Forsyth in Manhattan, this 46 room hotel is located in the heart of a thriving neighborhood. Gemini Real Estate Advisors acquired the property along with 16 other tenant-in-common investors who were completing 1031 exchanges. "This is a great time to own a hotel in New York," said Will Obeid, Gemini President. "The proliferation of condo conversions as well as the growing number of visitors to New York has left the city with a growing demand for hotel rooms. "The impact of 9/11 has generally abated Abated, an ancient technical term applied in masonry and metal work to those portions which are sunk beneath the surface, as in inscriptions where the ground is sunk round the letters so as to leave the letters or ornament in relief. From 1911 Encyclopædia Britannica , with occupancy and room rates returning to pre-9/11 levels. We identified these trends and started looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the right asset." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. PricewaterhouseCoopers' 2005 forecast for Manhattan, the strong local economic growth combined with an increase in business travel and international arrivals will lead to the continuation of robust revenue per available room in 2005 and 2006. The Howard Johnson Hotel is located at a pivotal intersection of the Lower East Side and the East Village. Obeid continues, "We are thrilled to be part of the neighborhood's revitalization. This is the first securitized securitized Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds. TIC deal completed in Manhattan which is a watershed event for the industry. "The inherent challenges with acquiring real estate in Manhattan were compounded by our complex TIC structure designed to provide a suitable 1031 exchange for our investors." |
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