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C&W to coordinate project in Ireland.

Cushman & Wakefield, Inc., in conjunction with its European joint initiative partner, Healey & Baker, has entered into an agreement with the Rockfield Corporation, whereby Cushman & Wakefield will obtain hotel management and procure debt financing and equity for an international hotel, conference center and golf resort at Lough Key, Roscommon, Ireland.

Rockfield Corporation entered into an agreement with the Irish Forestry Board to purchase the 540-acre Lough Key Forest park overlooking the 600 acre lakes of Lough Key. Approximately 300 additional acres adjacent to the park will also be acquired for the development of the golf course.

Formerly know as the Rockingham Estate, Lough Key has been designated "The Jewel in the Crown" by the Irish tourist Board. Located on Ireland's largest river, the Shannon, Lough Key is approximately 115 miles outside of Dublin, 28 miles from the City of Sligo and 32 miles from Knock International Airport.

Historically, Lough Key has been recognized as one of Ireland's premier tourist attractions, and a recent survey ranked it number 5 in attracting tourists, with the City of Dublin in first place.

Rockfield has applied for and received planning permission from local government to build a 156-room four- or five-star hotel, a health leisure center, a courtyard center with shops and restaurants, an equestrian center, a marina center, 38 chalets, and an 18-hole championship golf course.

Merrie Frankel, a director of Cushman & Wakefield's Corporate Finance Group, said Cushman & Wakefield was very excited to be a part of the Lough Key International Hotel and Golf Resort, which, she said, is regarded as "a gateway to Europe and Europeans regard as a gateway to the United States."
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Title Annotation:Cushman and Wakefield Inc. contract with Healey and Baker for management and debt financing services for international hotel, conference center and golf resort at Lough Key, Roscommon, Ireland
Publication:Real Estate Weekly
Date:Sep 1, 1993
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