Hotel investment vets join C&W.Paul C. Fitzpatrick and Thomas P. McConnell, two of the real estate industry's most experienced hotel investment specialists, have joined Cushman & Wakefield as senior managing directors in the firm's Financial Services Group to form a national hotel practice. They were previously senior vice presidents with CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. , and senior managing directors with Insignia/ESG prior to the merger. Timothy Welch, executive managing director and head of Cushman & Wakefield's Financial Services Group, said the two hires establish a highly respected hotel investment sales practice for Cushman & Wakefield that complements the firm's established Financial Services Group. "Our strength nationally in Financial Services has been in all asset classes other than hotel properties," Welch said. "Adding two professionals as strong as Paul and Tom completes the loop, and rounds out our expertise in office, industrial, retail, residential and now hotel." Fitzpatrick has represented owners, developers, operators and institutions in the sale and acquisition of hotel properties, and advised on debt and equity placements. Prior to joining CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) in May 1999, he was the president of Fitzpatrick Associates Inc., a private real estate investment banking firm that represented principals in capital transactions, and was co-developer on a number of hotel, golf and residential developments 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 and Pennsylvania. Some of Fitzpatrick's clients include UBS AG, British Airways, KUO KUO Kuopio, Finland - Kuopio (Airport Code) Investments, Linchris Hotel Corp. In 2003, Mr. Fitzpatrick was involved in the sale of the Gorham Hotel in Manhattan, and the Castle at Tarrytown in Westchester, N.Y., among other significant transactions in the area. McConnell established Insignia/ESG's hospitality transaction practice in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. following that company's merger with Hotel Partners in 1998. He specializes in financial advisory services to hospitality clients in the primary areas of capital solicitation (equity and debt) and asset disposition for single assets, portfolios and corporate transactions. Prior to Insignia/ESG, Mr. McConnell was a director in Arthur Andersen's Real Estate Services Group in New York. A selection of McConnell's clients include Wyndham International, Finova Capital, AEW AEW Airborne Early Warning AEW Air Expeditionary Wing AEW Airborne Electronic Warfare AEW Agr' Eau' Wat (Canadian agricultural consultant) AEW Amckerns Explosion Wars (Half Life community) and UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System . |
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