LOS ANGELES, CA / ACCESSWIRE / December 17, 2014 / ASAP International Holdings ("ASAP") (OTCQB: ASAE), announced today that it has successfully advised on the acquisition for Urban Commons LLC of the 777 room Nickelodeon Suites Resort Orlando which closed on November 25, 2014, Cushman & Wakefield, Inc represented the Seller, Iron Hound Management Company arranged the financing for the Buyer.
Nickelodeon Suites Resort in Orlando Florida is located in the heart of Orlando, Florida, just 20 minutes from the Orlando International Airport. The Nickelodeon Suites Resort is a 777 key family-friendly hotel with 24-acres of stomping grounds, in close proximity to the Magic Kingdom, Disney's Animal Kingdom, and Universal's Islands of Adventure as well as other exciting Orlando area attractions.
The acquisition of the Nickelodeon Suites Resort represents Urban Commons' second hotel acquisition in Florida. The acquisition presented the opportunity to invest in one of the most diverse and fastest growing markets in the country at an attractive basis.
Mr. Frank Yuan stated, "The Nickelodeon Suites Resort represents the type of projects sophisticated investors are searching for. Investors understand the Orlando market because of the stable demand generators and understand further developing the hotel with an internationally visible location." Yuan also commented "We really appreciate every party in the transaction, including Urban Commons, Cushman and Wakefield, Sellers and Iron Hound together with the lender working diligently together to ensure the proper close. Everyone's cooperation made the transaction smooth and successful."
CEO Frank Yuan and CIO Jerome Yuan led the ASAP team on the transaction. ASAP is one of the most active hotel buyers in the U.S. for the past three years, constantly searching for more hotels and will remain active in the hospitality buy side for the foreseeable future.
About Urban Commons
Over the last several years Urban Commons has completed a large number of commercial property acquisitions. Urban Commons targets value-add opportunities where they see the greatest growth potential and upside opportunities for returns. With their success, Urban Commons continues to aggressively grow its portfolio in the hospitality sector. Urban Commons, a Los Angeles-based real estate investment firm, specializes in hospitality and residential income generating assets. Urban Commons targets value-add property acquisitions in highly populated, predictable markets. With decades of cumulative real estate investment, development, and management experience, the company has proven the ability to thrive in the US market throughout all market cycles. Urban Commons owns, manages and invests in a variety of assets including land, apartment buildings, condominium projects, hotels, retail and commercial properties. Hospitality partners include names such as, Starwood Hotels and Resorts Worldwide, Hilton Worldwide, InterContinental Hotels Group and Wyndham Worldwide. For further information about Urban Commons, please visit www.urban-commons.com.
About Iron Hound
Iron Hound Management Company, LLC is a full service investment advisory shop for commercial real estate owners. Since its inception in 2009, Iron Hound has advised its clients on over $3.0B of debt and equity assignments and over $9.5B of restructuring assignments. Visit www.ironhound.com to learn more about the company.
About ASAP
ASAP is a holding company that operates real estate, investment banking and consulting for Chinese companies. Our mission is to be the bridge between China and the Western world. Our Real Estate division assists with institutional and high net worth individuals with acquisition advisory and asset management. Corporate website www.asapholdings.com.
Forward-Looking Statements
With the exception of historical information, the matters discussed in this news release include "forward-looking statements" within the meaning of the federal securities laws that are qualified by cautionary statements herein and in all company's filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.
CONTACT:
Ana Gandara Morales
(213) 625 1200
[email protected]
SOURCE: ASAP International Holdings