Search
 

Wye River Conference Center's Owner Seeks Equity Partner

QUEENSLAND, MD-The owner of the Wye River Conference Center, where Israeli and Palestinian officials negotiated a 1998 peace accord, wants to find a joint venture partner or a leasehold client that will help finance the expansion and renovation of the 86-room facility.

By Mike Cleary | Updated on October 26, 2000

QUEENSLAND, MD-The owner of the Wye River Conference Center, where Israeli and Palestinian officials negotiated a peace accord in 1998, wants a business partner to take a piece of its next deal. The nonprofit Aspen Institute wants to expand and renovate the 86-room conference center on Maryland’s Eastern Shore, and is looking for an equity finance partner to bring cash or management ability to the facility. The deal could be structured as a joint venture or as a long-term leasehold for a partner willing to manage the facility.

The Denver-based group wants to add at least 100 rooms and renovate the facility’s rooms, built in three parts over the last 66 years. As a dedicated conference center with 5,446 sf of meeting space, recognized by the International Association of Conference Centers, the facility lacks new telecommunications technology. Aspen and Jones Lang LaSalle Hotels, its adviser, have not named a price for the renovations or an equity investment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.