For Release Monday, January 15, 2007 9:00 a.m.
Watermark Capital Partners, LLC and Montclair Hotel Investors, Inc. Partner to Acquire Two Wisconsin Hotels
Chicago, IL, January 15, 2007 – A Partnership led by affiliates of Watermark Capital Partners, LLC and Montclair Hotel Investors, Inc. has acquired two leading full-service hotels located in the Fox Cities area of Wisconsin. The Radisson Paper Valley Hotel, a 390-room, full-service conference hotel located in downtown Appleton, is one of the leading convention and group conference hotels in the State of Wisconsin. It is also home to the renowned Vince Lombardi Steakhouse and host to all National Football League teams that visit the Green Bay Packers at their home Lambeau Field Stadium. The Holiday Inn Riverwalk, located in downtown Neenah, is a full-service property offering 107 guestrooms and 11,100 square feet of meeting space.
“Our long-standing relationship with Montclair has spanned a number of hotels and resorts and we are pleased to partner with them once again on the acquisition and improvement of these two irreplaceable assets,” said Michael G. Medzigian, Chairman of Watermark Capital Partners, LLC.
“Montclair has managed the hotels for a number of years and has led significant renovations and improvements to the properties. We will immediately begin additional targeted capital investments that will further enhance the hotels,” said Peter T. Cyrus, co-President of Montclair Hotel Investors, Inc.
“Both hotels are leaders in their respective markets and they have long been valued assets in their communities. We will continue to be active members of the Appleton, Neenah and regional communities, and to improve the properties for the benefit of our customers and associates,” said Dennis Langley, co-President of Montclair Hotel Investors, Inc.
Watermark Capital Partners, LLC is a Lake Forest, Illinois based private investment firm that specializes in real estate private equity transactions. Watermark is led by Michael G. Medzigian who has been responsible for over $13 billion of real estate investments and has an exceptional track record of integrity and for sourcing proprietary opportunities, creatively enhancing value and delivering superior risk-adjusted returns to his investors. Watermark’s primary investment focus is on assets that benefit from specialized marketing strategies and demographic shifts including hotels and resorts, golf and recreation, resort residential, fractional and club programs, and mixed-use projects. Additional information regarding Watermark is available at www.watermarkcap.com.
Montclair Hotel Investors, Inc. is a Chicago-based hotel investment and management company who’s managing partners, Peter T. Cyrus and Dennis Langley, have managed hotel portfolios with values in excess of $3 billion. The managing partners have been involved with the property management and ownership of numerous prominent resort and hotel investments, including the Boca Raton Resort & Club, Arizona Biltmore, Indian Lakes Resort, Nordic Hills Resort, RockResorts, Four Seasons Las Colinas (Dallas, TX), Lansdowne Conference Center Resort (Washington, DC), and Hyatt Grand Champions Resort (Palm Desert, CA). Additionally, the managing partners have been involved in the ownership and management of mid-market properties, including a portfolio of 24 Holiday Inns. Additional information regarding Montclair is available at www.montclairhotels.com.
back to news index