{"id":1004017902,"date":"2010-02-21T22:50:10","date_gmt":"2010-02-22T06:50:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004017902"},"modified":"2022-12-09T01:40:38","modified_gmt":"2022-12-09T09:40:38","slug":"ing-clarion-buys-cape-cod-resort","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ing-clarion-buys-cape-cod-resort\/","title":{"rendered":"ING Clarion Buys Cape Cod Resort"},"content":{"rendered":"<p>February 22, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004017903\" style=\"width: 160px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Sea-Crest.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004017903\" data-attachment-id=\"1004017903\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ing-clarion-buys-cape-cod-resort\/sea-crest\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Sea-Crest.jpg\" data-orig-size=\"500,355\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Sea Crest\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user Elizabeth Thomsen&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Sea-Crest.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Sea-Crest.jpg\" alt=\"\" title=\"Sea Crest\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-1004017903\" \/><\/a><p id=\"caption-attachment-1004017903\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user Elizabeth Thomsen<\/p><\/div>\n<p>In what may be one of many deals spearheaded by opportunistic funds this year, ING Clarion Development Ventures III has acquired the 23-acre waterfront Sea Crest Resort and Conference Center on Cape Cod. The deal was done in partnership with Scout Real Estate.<\/p>\n<p>The 266-room resort will be extensively renovated, with upgrades including new landscaping, a revamped lobby, and improvement of guest rooms and conference facilities. In addition, a sports pub, ice cream soda fountain, improved food service area, and new poolside bar will be built and the outdoor swimming pool area completely revamped. The renovation is slated for completion by June 2011.<\/p>\n<p>Financials for the transaction were not released.<\/p>\n<p>\u201cWe have been waiting for quality properties like Sea Crest to become available at attractive pricing,\u201d ING Clarion Partners managing director and Clarion Development Ventures III portfolio manager Doug Bowen said in a statement. \u201cThat is starting to happen as both buyers and sellers adjust their expectations to the new realities of the market.\u201d<\/p>\n<p>Opportunistic funds are expected to profit handsomely as buyers and sellers adjust. Several sources have told CPE that these funds are poised to make a good deal of money in the coming year. <\/p>\n<p>CDV III was launched in 2007 and can invest in all property types, but fund management has most recently been focused on hotels and multifamily housing, two of the most strongly hit sectors in the recession.<\/p>\n<p>The Americas arm of ING Real Estate Investment management, ING Clarion Partners and affiliates manage $43 billion in assets in private equity, public equity, and public debt sectors of the real estate markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In what may be one of many deals spearheaded by opportunistic funds this year, ING Clarion Development Ventures III has acquired the 23-acre waterfront Sea Crest Resort and Conference Center on Cape Cod. The deal was done in partnership with Scout Real Estate.<\/p>\n","protected":false},"author":936,"featured_media":1004017903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21742,21785],"tags":[],"class_list":["post-1004017902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-latest","category-property-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ING Clarion Buys Cape Cod Resort - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ing-clarion-buys-cape-cod-resort\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ING Clarion Buys Cape Cod Resort\" \/>\n<meta property=\"og:description\" content=\"In what may be one of many deals spearheaded by opportunistic funds this year, ING Clarion Development Ventures III has acquired the 23-acre waterfront Sea Crest Resort and Conference Center on Cape Cod. The deal was done in partnership with Scout Real Estate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ing-clarion-buys-cape-cod-resort\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-02-22T06:50:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:40:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Sea-Crest.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"355\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"ING Clarion Buys Cape Cod Resort\",\"datePublished\":\"2010-02-22T06:50:10+00:00\",\"dateModified\":\"2022-12-09T09:40:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/02\\\/Sea-Crest.jpg\",\"articleSection\":[\"Hotel\",\"News\",\"Property Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ing-clarion-buys-cape-cod-resort\\\/\",\"name\":\"ING Clarion Buys Cape Cod Resort - 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