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Location:
Tarrytown, NY
Date of Acquisition:
June 29, 2007
Seller:
Morgan Stanley
Primary Focus:
Asset management and construction management
In June 2007, a joint venture of Northview Hotel Group and an institutional private equity partner acquired the Westchester Marriott Hotel from Morgan Stanley. Located 30 minutes north of New York City at the crossroads of Interstate 87 and Route 287, the property features 444 recently-renovated guestrooms, 26,000 square feet of meeting space, three food and beverage outlets, a gift shop, and an indoor swimming pool with a whirlpool, sauna, and retractable skyroof. Debt financing for the transaction was provided by Morgan Stanley Mortgage Capital. The Hotel is operated by Marriott International under a long term management agreement.
Northview serves as asset manager and construction manager on all capital improvement projects on behalf of the venture.
