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Madison Seeks to Increase Residence Inns Stake

FAIRWAY, KS-Madison Liquidity Investors 117, LLC will own about 10.45% of 23 Marriott Residence Inn properties in 16 states. The seller's s search for a buyer suffered a setback from the Sept. 11 attacks.

By Jim McCartney | Updated on May 02, 2002

FAIRWAY, KS-Madison Liquidity Investors 117, LLC has agreed to buy about 1,717units of Marriott Residence Inn II Limited Partnership, representing about 2.45% of theoutstanding units. The Marriott Residence Inn II has hired Merrill Lynch to find a buyer, and had been negotiating with a buyer until Sept. 11 put those negotiations on hold.

The company recently disclosed it is still talking to the potential buyer.

The Marriott Residence Inn II partnership described the Madison offer as an “unsolicited tender,” in its annual report filed March 28.

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