{"id":1004050435,"date":"2012-10-22T13:21:40","date_gmt":"2012-10-22T21:21:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=75408"},"modified":"2022-12-08T22:17:52","modified_gmt":"2022-12-09T06:17:52","slug":"westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\/","title":{"rendered":"Westin Imagine Follows in Streak of Recent Orlando Hospitality Transactions"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor\"\"<\/a><\/em><\/p>\n

The last few weeks stand as clear proof of the increasing appeal of Central Florida hotels; following the sale of two luxury Bohemian hotels and that of the Lake Eve Resort last week, Westin Imagine Hotel was next in line to trade owners.<\/p>\n

The 315-room Westin Imagine Hotel was purchased by ERGS WI Orlando REO LLC for the reported amount of $34.5 million or roughly $109,523 per room. Holliday Fenoglio Fowler marketed the Westin on behalf of the seller, a bank group using the name REDUS Imagine LLC, which foreclosed on the property earlier this year.<\/p>\n

The Westin Imagine is located adjacent to the Orange County Convention Center at 9501 Universal Boulevard, close to Orlando\u2019s world-famous theme parks and numerous shopping destinations. Completed in 2008, the hotel features Fiorella\u2019s Cucina Toscana restaurant, more than 7,000 square feet of meeting space, and resort-style pool and fitness amenities. The transaction also included a condominium-hotel component and approximately 24 acres of land surrounding the hotel.<\/p>\n

The HFF investment sales team representing the seller was led by senior managing director Daniel Peek, directors Max Comess, Michael Weinberg and Paul Hsu, and senior real estate analyst Cyrus Vazifdar.<\/p>\n

\u201cWe congratulate both parties on a successful and timely transaction,\u201d commented Peek. \u201cThis was a highly complicated asset with many moving parts; however, both sides and their respective counsels remained focused on the deal and achieved a mutually beneficial outcome.\u201d Comess added, \u201cThe hotel\u2019s improving performance in a strong, global market, superb physical condition, and attractive investment basis were all attributes that made this opportunity attractive to numerous investors from around the world.\u201d<\/p>\n

For legal counsel, the seller was represented by the Orlando office of Lowndes, Drosdick, Doster, Kantor & Reed. The buyer was represented by the Pittsburgh office of Eckert Seamans Cherin & Mellott and the Miami office of Greenberg Traurig.<\/p>\n

Image via www.westin.com\/Orlando<\/cite><\/p>\n","protected":false},"excerpt":{"rendered":"

The last few weeks stand as clear proof of the increasing appeal of Central Florida hotels; following the sale of two luxury Bohemian hotels and that of the Lake Eve Resort last week, Westin Imagine Hotel was next in line to trade owners.<\/p>\n","protected":false},"author":39,"featured_media":1004506720,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1493],"tags":[],"class_list":["post-1004050435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-orlando"],"acf":[],"yoast_head":"\nWestin Imagine Follows in Streak of Recent Orlando Hospitality Transactions - 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\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westin Imagine Follows in Streak of Recent Orlando Hospitality Transactions\" \/>\n<meta property=\"og:description\" content=\"The last few weeks stand as clear proof of the increasing appeal of Central Florida hotels; following the sale of two luxury Bohemian hotels and that of the Lake Eve Resort last week, Westin Imagine Hotel was next in line to trade owners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\/\" \/>\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=\"2012-10-22T21:21:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T06:17:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/westin-imagine.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\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\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/\"},\"author\":{\"name\":\"Amalia Otet\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"headline\":\"Westin Imagine Follows in Streak of Recent Orlando Hospitality Transactions\",\"datePublished\":\"2012-10-22T21:21:40+00:00\",\"dateModified\":\"2022-12-09T06:17:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/\"},\"wordCount\":323,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/westin-imagine.jpg\",\"articleSection\":[\"News\",\"Orlando\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westin-imagine-follows-in-streak-of-recent-orlando-hospitality-transactions\\\/\",\"name\":\"Westin Imagine Follows in Streak of Recent Orlando Hospitality Transactions - 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