Search
 

Plasencia Advises $88M Sagamore Sale

TAMPA, FL-The transaction is completed amid the nation's worst financial markets since 9/11.

By Carl Cronan | Updated on September 22, 2008

(Carl Cronan is editor of Real Estate Florida.)

TAMPA, FL-The Plasencia Group, a locally based hospitality investment advisory firm, has guided the $88-million sale of the historic Sagamore Resort in Bolton Landing, NY by Green Island Associates to Sagbolt LLC. The firm cites the significance of the single-asset transaction as one of the largest of its kind in the past year, amid the worst financial markets since the events of Sept. 11, 2001.

“The tumultuous investment and credit markets, combined with the property’s complex array of components and resort amenities, made this an extremely challenging transaction,” says Lou Plasencia, TPG chairman and CEO. He adds that his firm was able to close the high-profile asset in a seasonally driven market with short due-diligence and closing periods.

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.