MODESTO, CA? The Rim Hotel Group LLC, a Modesto-based holding company for The Rim Corp.?s hotel assets, has acquired the Holiday Inn at Six Flags Marine World in Vallejo, CA for $7.2 million, or 60% of the replacement cost. The 166-room full service hotel, located adjacent to the new Six Flags Marine World Theme Park, was purchased by The Rim Corp. from Diversified Properties. To finance the acquisition, Tokai Bank, with offices in San Francisco, provided the assuming loan. Rim now manages 17 hotels in California, 15 of which are owned by the company. ?The Holiday Inn franchise affiliation will remain and is a great addition to our current portfolio,? said Mark Burden, Rim?s CEO. ?Holiday Inn is a superb brand for a family vacation destination.? ?Rim looks forward to being an active element in Vallejo?s future,? he added. The property was built in 1989 and has 166 guest-rooms, eight meeting rooms and a banquet room offering 4,000-square-feet of meeting space. Other features include executive rooms, a courtyard pool and a bar lounge with a dance floor. Rim, founded in 1983 as a family-operated, multifaceted hotel management and development company, offering hotel investment, management, real estate design and construction, provides support for the inception, development, construction and managing investments in hotels, agriculture, restaurants and real estate. Rim?s portfolio includes: Best Western Harbor Inn in West Sacramento, Best Western Mallard?s Inn in Modesto, Best Western Placerville Inn, Best Western Raffles Inn in Anaheim, Best Western Sonora Oaks in Sonora, the Courtyard by Marriott in Santa Rosa, Stockton, and Vacaville.
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